Sushi

Sushi is the native token of SushiSwap, a decentralized exchange that lets users swap digital assets without relying on a centralized intermediary. SushiSwap operates across more than 40 blockchain networks, aiming to give anyone with a compatible wallet access to trading and liquidity provision regardless of which chain they use. The protocol is designed for traders seeking permissionless asset swaps and for liquidity providers looking to earn fees by depositing assets into trading pools.

SushiSwap uses an automated market maker model, meaning prices are set algorithmically based on the ratio of assets held in liquidity pools rather than by a traditional order book. SUSHI is an application-layer token with no consensus algorithm of its own; it lives on multiple host blockchains and is used for governance of Sushi DAO as well as for directing a share of protocol revenue. Liquidity providers deposit asset pairs into pools and receive a portion of the trading fees those pools generate, while the protocol retains a separate share recorded as protocol revenue.

Fees are paid by traders each time they execute a swap, and over the trailing 30 days the protocol collected 1,331,834.81 USD in total fees. Of that, liquidity providers received 836,780.97 USD as supply-side revenue, token holders received 9,098.00 USD, and the protocol retained 495,053.84 USD as its own revenue — a take rate of roughly 37.17% of fees over that same period. Annualizing from the trailing 30 days, total fees run at approximately 16,203,990.19 USD and protocol revenue at approximately 6,023,155.05 USD. Both fee and revenue growth over the trailing 30 days were sharply negative, at -86.57% and -86.36% respectively, indicating a significant recent decline in activity compared with the prior period.