What kind of project is sushiswap, which has doubled 7 times in two days?

Hello everyone, I am Pepe, who looks confused while eating melons and watching dramas. Today’s currency circle, more precisely, should be called the DeFi circle. It can be said that even sleeping is a luxury. If you don’t watch the group for a while, you may miss it. After a short period of silence in the market, with the explosive growth of the new Internet celebrity sushi (sushi) we are going to talk about today, and some good news about liquidity mining, Ethereum is moving towards a new high , All kinds of defi coins also show a state of continuing to play music and dance. I have seen a lot of tutorials on how to mine sushi in the past two days, but I don’t know, except for the 10-20 times high annualized rate of return and the soaring token price on the page: How many people know what happened here? What kind of story is too easy to copy, why is this swap so different? To be honest, as an old leek who is often confused now, I also come to help the old leeks around us, not necessarily to pick up the plate, but at least you must know what music is playing and which one is dancing. dance. Simply put, Sushiswap is a copy + micro-innovation product of Uniswap, and it is also a decentralized trading platform that forms pricing through automated algorithms of market makers. Since uni has evolved into a speculative holy land for various Internet celebrities and native dogs, there are many imitators. For example, there was a mooniswap before, but it seems that even after the coin was issued, it did not generate enough popularity. But why is sushiswap this time, It actually made the community worry that the status of uniswap will not be guaranteed. GameStop's NFT market trading volume exceeded Coinbase's NFT market trading volume in two days: According to news on July 14, the US game retailer GameStop's new NFT market open beta version has only been online for two days and the trading volume has reached 3,167 ETH (about 3.5 million US dollars) ), while insignificant compared to OpenSea, has nearly doubled the historical trading volume of the Coinbase NFT marketplace, while GameStop has yet to offer the game NFTs it sees as a core product of the marketplace’s plans. According to data from Dune Analytics, Coinbase's NFT market has traded a total of 1,704 ETH since its launch, or about $1.8 million. (Decrypt) [2022/7/14 2:12:29] The main point here is sushi. Instead of adopting the traditional one, it just reopens a webpage. Instead, I think there is a word used very well in the circle-sucking blood, not only to Copy your code, but also "copy" your traffic and users, which may also change the way of competition between defi competing products in the future. How is the superpower of this "vampire" accomplished? Here we also need to talk about the mechanism of uniswap. We all know that uni does not rely on an order book, but an exchange price generated by an algorithm. To make this price smooth enough to prevent it from flying away or collapsing when you buy it, you need a large enough company behind it. The pool of funds, and the bigger the better. Ethereum Burned 36% of New Coin Issuance in Two Days: Jinse Finance reports that since the activation of Ethereum Improvement Proposal (EIP) 1559, the network has removed or "burned" more than 5,000 ETH from circulation, worth About 14 million US dollars, accounting for 36% of the total amount of new currency issued in the same period. [2021/8/7 1:39:59] Decentralized platform, everyone can deposit different token assets into these fund pools, also called liquidity market makers, and the corresponding uni will also transfer platform transactions The handling fee is distributed to all market makers. Currently, this part of the profit comes from 0.3% of each transaction. Don’t underestimate this, the upsurge of IUO (the first uniswap issuance) this year has also brought about super high annualized market-making returns, such as providing liquidity to eth-ampl now, with an annualized return of 45%, which was previously popular with ampl Sometimes, the annualized rate can reach 400%! This is why, even if uni does not issue coins, there are still so many funds making markets on it. Of course, there is also a problem that needs to be paid attention to. Many people may think that this is another tm magic tool to make money. It has changed this era. Everyone can become the star Xu and Zhao Changpeng. If the handling fee is soft, it may be too young too naive. SAMAN was listed on UNIEX exchange with an increase of 159.69%, and opened the first mine two days later: According to official news, SAMAN officially launched on UNIEX.COM at 16:00 on December 30, and opened SAMAN/UCNY trading. According to the UNIEX exchange market, SAMAN opened at a price of 0.48 UCNY. Since then, the market price has continued to rise, reaching a maximum of 1.2584 UCNY. The current price is 1.1902 UCNY, an increase of 159.69%. In addition, SAMAN will officially start staking mining on January 1, 2021. The SAMAN staking official website has launched the new UNIEX LAB area. Users can find SAMAN in the LAB area of the exchange and enter the subsequent staking mining. The head mine is about to open. SAMAN aims to create a new generation of underlying chain with a triangular balance of privacy, performance, and scalability, and to realize an inclusive financial and diversified decentralized financial ecology through SAMAN. [2020/12/30 16:06:03] High returns are compensation for high risks. Don’t just see thieves eating meat and not seeing thieves being beaten. Liquid market makers are actually similar to doing grid trading. For example, for the trading pair ampl/eth, if ampl has been rising relative to eth, then everyone thinks that everyone trades eth for ampl, and there will be more and more eth left in the pool. As a market maker, you It is possible that the assets retrieved in the end also accounted for a larger proportion of eth, which is equivalent to losing the income of ampl. Exclusive丨Bitcoin futures spot price difference has risen to 7.64% for two consecutive days: Jinse Finance reported that according to peer customer data, on October 10 (0:00 GMT), the annualized bitcoin spot price difference was 7.64%, which was 7.64% higher than the previous It rose 0.42% in one day, and the market sentiment index was "optimistic". Index reference: >20% extreme bull market; 10%~20% bull market; 5%~10% optimistic; 2%~5% cautiously optimistic; 0~2% cautious; -5%~0 cautiously pessimistic; -10%~- 5% pessimistic; -20%~-10% bear market; everyone is scrambling to mortgage LP tokens to the sushi platform, and as sushi has doubled 7 times in 2 days, the scene is even more out of control, and now the data on the website: crowd address: https://sushiswap.org/farms Take a look at the APY annualized income of each of the pools above. Sushi-eth is 22 times the current annualized rate, and the highest uma-eth annualized rate is as high as 34 times. The cx disks expressed that they were crying and fainted in the toilet. I don’t know whether this is a distortion of human nature or a moral decline, but what about the growth logic of sushi, except that this ingenious blood-sucking model has successfully attracted the mainstream traffic of the defi circle, and for example, the initial circulation is not high, so the sushi transaction pair is eye-catching The annualized income has given sushi a huge buying demand support, and many defi farmers have begun to choose the road of hoarding coins after exhausting many projects in the way of digging, withdrawing and selling. Another innovative concept that they focus on is that for the profit distribution of liquidity market makers in the future, 0.25% of the normal profit distribution + 0.05% will be used to repurchase and destroy sushi tokens. That is to say, it provides sushi with a value support, which is a bit similar to the story told by the platform currency in 2019. According to their official words, why market makers will choose sushi instead of uni in the future lies in: Uniswap In , liquidity providers can only get pool transaction fees when actively providing liquidity, and once they withdraw their part of the funds, they can no longer get passive income. At the same time, with the development of the agreement, although they are early liquidity providers, when venture funds, exchanges, mining pools and other (larger and richer) stakeholders join the agreement with huge funds, the early merchants Returns may be diluted. And sushi, in addition to providing some liquidity for the sushi pool and getting token rewards, unlike Uniswap, even if you decide not to participate in the liquidity supply, these sushi tokens will also give you the right to continue to earn the agreement A portion of the fee (accumulated in sushi), and as an early adopter helping provider liquidity, you will become a valued stakeholder in the protocol. We don’t know yet, because it’s still just a stage of mining and allocating chips. The real migration will be after 100,000 blocks (about two weeks). At that time, the token incentive will also be reduced from the current 1,000 blocks to 100 blocks. blocks. As a member of the people who eat melons, I don’t think it’s really clear. Two weeks is quite a long time in the defi circle, and anything can happen. For example, whether the uniswap team will respond, whether the release of sushi in the past two weeks is not small, can it be stable? A higher price, or will there be a new "blood-sucking god" born? We'll just have to wait and see. The above is the story about sushi, and finally add a few points: 1. The volume of the initial two weeks is not small, especially if it is calculated according to the current price. Although everything is possible in the defi circle, we still need to pay attention to tokens short-term risks. 2. Just now I opened the little fox wallet on sushi and saw: The single transaction fee has reached 14U, which is still too exaggerated. It is recommended that children’s shoes that do not have tens of thousands of free U to play are still in the fomo exchange It's a bargaining chip, otherwise I really don't know who to work for. 3. Of course, there is also a strategy suitable for retail investors, which is to go to the trading currency selected by the online celebrity pool, because generally speaking, the opening of a new pool will increase the demand for buying these tokens. There are quite a few reasons for the rise of ecological coins. I saw the 24-hour increase in today's market making in his pool, among which UMA+24%, Band+7.9%, AMPL+28.4%, COMP+16%... The high gas fee may not be able to make everyone I can afford to be a market maker, but it is still feasible for everyone to be a kol, haha. 4. A sentence that is often seen in the field of defi is: they have not passed the contract security audit, pay attention to risks. This is indeed a risk that needs to be paid attention to, but judging from the current situation, I am afraid that this kind of project that takes the direct distribution route will not have the money to do audits in the early stage. It will only be improved after the product is profitable, so it depends on the project. You can’t completely look at this point, of course, you still need to have risk awareness.

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