Sushi

Sushi is the native token of SushiSwap, a decentralized exchange that operates across more than 40 blockchain networks and lets users trade a wide range of digital assets without a centralized intermediary. SushiSwap targets anyone who wants to swap tokens or provide liquidity in a permissionless environment, removing the need to trust a single company to hold or match funds. It also offers liquidity-management tools such as Smart Pools and an automated market maker designed to reduce impermanent loss for liquidity providers.

SushiSwap uses an automated market maker model, meaning prices are set algorithmically by the ratio of assets in liquidity pools rather than by a traditional order book. SUSHI is an application-layer token with no independent consensus mechanism of its own; it relies on the underlying blockchains where SushiSwap is deployed. Within the protocol, SUSHI can be staked to earn a share of protocol revenue, and the token is governed by Sushi DAO, which oversees protocol decisions through on-chain governance.

Fees are generated when traders swap assets on SushiSwap; those traders pay the fees, which are then split between liquidity providers and the protocol itself. Over the trailing 30 days the protocol recorded total fees of 660,065.64 USD, of which protocol revenue was 297,322.26 USD, implying a take rate of roughly 45.04 percent over that period. The supply side, meaning liquidity providers, received 362,743.38 USD over the same 30 days, while token holders received 7,024.00 USD. Both fees and revenue declined over the trailing 30-day window, with fee growth at negative 45.52 percent and revenue growth at negative 46.14 percent over that period.