SushiSwap expands DeFi capabilities with core protocol partnership

SushiSwap and Core join forces to unlock new DeFi possibilities, amplifying cross-chain functionality and liquidity aggregation

By Shashank Bhardwaj

Published: Aug 2, 2023 06:29:23 PM IST

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In a move set to redefine the landscape of decentralised finance (DeFi), SushiSwap, a prominent DeFi platform, announces its collaboration with Core, a blockchain protocol. The integration aims to leverage Core's unique consensus mechanism to offer an extensive range of DeFi services with cross-chain functionality.

With the partnership, developers in the Core ecosystem will gain increased opportunities, as decentralised applications built on the protocol will have access to SushiSwap's liquidity pools, decentralised exchange (DEX) aggregator, and cross-chain swaps. The addition of SushiSwap's automated market maker platform liquidity is expected to enhance the performance of other DeFi protocols operating on Core, bolstering the ecosystem's overall functionality.

This strategic alliance places SushiSwap alongside other major DeFi protocols, including ArcherSwap, IceCreamSwap, and OpenEx, which already operate on Core's network. The integration promises to improve cross-chain functionality further, allowing SushiSwap users to explore new possibilities facilitated by Core's protocol.

At the heart of Core's Bitcoin-powered blockchain lies its revolutionary consensus mechanism called "Satoshi Plus." Combining proof-of-work (PoW) and proof-of-stake (PoS) elements, this hybrid approach ensures scalability, security, and privacy within the protocol. Core leverages the existing Bitcoin infrastructure for security and decentralisation by delegating hashing power to specified validators. Moreover, the protocol's compatibility with Ethereum Virtual Machine (EVM) allows for use cases that were previously not possible on Bitcoin.

The spokesperson for Core highlighted that Satoshi Plus employs delegated proof-of-stake (DPoS) to verify transactions by selecting validators based on a combination of staked native tokens and delegated hash power. This unique approach ensures scalability on top of PoW's significant decentralisation and security.

As SushiSwap broadens its DeFi capabilities through the Core partnership, the crypto community anticipates exciting new possibilities in cross-chain functionality and liquidity aggregation. However, with DeFi's intricacies and risks, developers must tread cautiously, highlighting the importance of secure and transparent practices in the rapidly evolving decentralised finance space.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash