Sashimi, DEX and New Revelation

The liquidity of Uniswap fell by more than 70% yesterday, and it returned to the same scale before the birth of SushiSwap, which was less than 500 million US dollars, while SushiSwap "leveraged" the liquidity of more than 1 billion US dollars. In other words, after liquidity migration, the liquidity of SushiSwap is more than twice that of Uniswap.

(The liquidity of Uniswap fell by 70% yesterday)

(The liquidity of SushiSwap was more than 2 times that of Uniswap yesterday)

No matter what people think of SushiSwap, it is a classic battle in the history of encryption. In essence, SushiSwap did not leverage too much liquidity on Uniswap, because the liquidity of Uniswap before and after the birth of SushiSwap was almost the same, and what SushiSwap took away was its own liquidity.

Osasion opens all interactive functions of the new version of the APP wallet chain: According to the latest announcement of Osasion, Osasion has officially opened the new version of the Osasion wallet APP chain node creation node, asset transfer, etc. at 16:00 on October 12, 2021, Hong Kong time. All on-chain interactive functions and user node migration cycles will continue to be open, and the migration closure time is subject to the latest announcement. [2021/10/12 20:23:16]

(Judging from the Uniswap liquidity before and after the birth of SushiSwap, it just retrieves its own liquidity)

However, SushiSwap's Uniswap-based gameplay is very innovative, because it is not just a simple fork, but a token distribution mechanism (partial reference to YFI), and most importantly, a liquidity pool equity token based on Uniswap. Token distribution of SUSHI tokens, which solves the problem of subsequent liquidity for it. In other words, from the very beginning, SushiSwap doesn’t have to worry about the question of whether the chicken lays the egg or the egg lays the chicken. Because of the old hen Uniswap, SushiSwap doesn’t have to worry about having no eggs, it’s just a question of how many.

Osasion’s mining coefficient rose to 0.83 Mining difficulty range: Level 3: According to data monitoring on the Osasion chain, as of 16:00 on January 7, 2021 Hong Kong time, the Troy mainnet data is as follows: AUC: 1.47$; increase: 1470%; increase: 14.7 times; current number of activated nodes: 9531; current node mining average: 0.01439272AUC; AUC block height: 6723577; AUC circulation market value: 3316706.29296103$; According to the F.VOB team, the mining coefficient is an important indicator used to measure the difficulty of mining. Its calculation formula is: 1 - the amount of ore distributed by a single node ÷ the consumption time of the same column (D) × the number of columns it belongs to × 3s (node activation time ). The rise of the mining coefficient means that the higher the number of node array layers, the longer it takes to activate all nodes in the same row, and the higher the difficulty of mining, and the speed of community construction determines the mining time of nodes, so the variable factor has a large floating space. This data reflects It can intuitively reflect the speed of the community's acquisition of nodes to build the network and the mining cycle of the AUC ore amount. The monitoring system for the mining coefficient from level 4 to level 1 has been formed, which will form a scientific reference system. The reference indicators are as follows: Level 4: 0-0.5; Level 3: 0.5-0.9; Level 2: 0.9-0.99; Level 1: 0.99-1. In the later stage, as the coefficient and interval increase, the mining difficulty will continue to be adjusted, and 6 decimal places will be reserved. [2021/1/7 16:38:52]

This kind of gameplay seems very simple after the event, and there is not much technical content, but it combines these mechanisms and gameplay to detonate the encryption community, and it fully hits the excitement of the community.

Gate.io will launch SASHIMI liquidity DeFi lock-up GT financing: According to Gate.io information, Sashimi will launch GT lock-up mining, including GT/ETH trading pairs and GT/sashimi trading pairs.

It is understood that this update will take effect after seeking community opinions and waiting for a 48-hour lock-up period. After taking effect, GT will be listed on the Sashimi liquidity mining platform, and users of the decentralized platform can obtain income returns by mortgaging GT. The Gate.io platform will also launch SASHIMI liquidity mining wealth management products. For details, please pay attention to Gate.io wealth management treasure. Due to the high risk of DeFi products, please pay attention to risks when investing. [2020/9/13]

(Uniswap's liquidity has once again climbed over $1 billion)

After Uniswap's liquidity fell to less than $500 million yesterday, Uniswap's liquidity climbed to more than $1 billion today. What's happening here? Is the liquidity of SushiSwap flowing back again? no.

CoinW will launch SASHIMI in the DeFi zone at 11:00 on September 11: According to official news, CoinW will launch the SASHIMI/USDT trading pair in the DeFi zone at 11:00 on September 11, and at the same time open the "deposit to send SASHIMI , -0.1% Maker rate\" event. It is reported that SashimiSwap is a brand new Sushi project, no pre-mining, removal of all team shares, absolutely fair! Like other swap products, it adopts the model of an automated market maker, but SashimiSwap is not a fork of the SushiSwap platform, and the two do not share liquidity. After SashimiSwap is opened, anyone can carry out mortgage mining here, with simple operation and friendly user experience. [2020/9/11]

Blue Fox Notes found that the liquidity of SushiSwap remained at the same level as before (slight drop). So, where does the new liquidity of around US$500 million come from? It turned out that SashimiSwap (sashimi) came.

Voice | Aleksas Sulnius: Distributed ledger technology brings new opportunities and challenges to the market: According to Babbitt, the former head of the Lithuanian Central Bank Blockchain Research Center Aleksas Sulnius said that the Lithuanian Central Bank is adapting to the new market environment rather than limitations in virtual currency. DLT brings unprecedented opportunities in fields such as finance, technology and law. If one day, the circulation of assets can be realized on the blockchain, then defining "virtual assets" now will help us adapt to the future world. [2019/3/12]

Sashimi (raw fish) not only brings new liquidity mining, but also brings new inspiration to other public chains and projects. If other public chains or projects are used properly, then these projects are also very likely to join the battle. However, the effect of joining the battle will gradually diminish.

The essence of SashimiSwap is the same as SushiSwap. It is also a DEX in AMM mode and a fork of Uniswap, but it is not a fork of SushiSwap, and the two will not share liquidity.

In terms of mechanism, SashimiSwap copied SushiSwap, and users only need to pledge the LP tokens of 11 liquidity pools on Uniswap to mine SASHIMI tokens. At the same time, the incentive mechanism is the same. In the first 100,000 blocks (from block height 10,833,000 to 10,933,000), it will give 1,000 SASHIMI tokens per block to users who pledge 11 Uniswap liquidity pool LP tokens rewards. After the first 100,000 blocks, the reward will plummet to 100 SASHIMI per block. The token incentive mechanism is the same as that of SushiSwap. It adopts the model of holding high and fighting high, trying to quickly increase the overall liquidity through short-term high-return stimulation.

In addition to the same mechanism as SushiSwap, SashimiSwap is different in that it does not have a 10% token allocation share for the developer team. In SushiSwap, 10% of the founder's share is used for development and auditing, etc., directly derived from the distribution of SUSHI tokens. The developer share of SasimiSwap does not come directly from the new token distribution, but from 0.05% of the 0.3% transaction fee, and the remaining 0.25% of the fee rewards users who provide liquidity. A 0.05% fee will be sent to the SASHIMI DAO contract.

If many projects want to take on a new look, it is very important to find a trigger point of demand. One of today's demand triggers is the high yield of liquidity mining. (Of course, this is a short-term stimulus, and long-term development requires a combination of long and short)

SashimiSwap was initiated by Aelf, and it will later be integrated with AESwap on its own blockchain. From this perspective, Aelf was originally going to release its AESwap, and SashimiSwap can kill two birds with one stone.

* Pave the way for the development of AESwap

AESwap was originally a DeFi ecological project that Aelf itself wanted to promote. If the gameplay of SushiSwap is not copied, it will take more time, energy and cost to attract people's attention. But now, just copying the SushiSwap model and removing the developer’s token share from the liquidity mining distribution, this move immediately aroused the market’s reaction.

Taking advantage of the trend to increase the demand for Aelf public chain tokens

The price of Aelf's public chain has more than doubled from yesterday to now, and its core driving force comes from the impact of liquidity mining in SashimiSwap. On Uniswap, there are 11 token pools for mining, of which there are 2 token pools, one is the SASHIMI/ELF token pool, and the other is the ETH/ELF token pool. In order to enter these two high-yield token pools for liquidity mining, users need to buy ELF with the same value as ETH to provide liquidity on Uniswap, resulting in an increase in demand for ELF. Of course, this is also the main driving force for Uniswap's liquidity to rise again.

From this perspective, it has brought new gameplay inspiration to other public chains and projects. It is to borrow the SushiSwap model to ultimately serve the development of its own ecology or projects, especially to achieve liquidity stimulation in the short term and complete the initial cold start. From the current point of view, this trick is working in the short term.

Of course, this play is not without side effects. If too many public chains or project parties frequently adopt this method, it will be a waste of money. Too frequent liquidity mining itself does not generate long-term value. The traders in the market are the ones who pay the final bill in this way of playing, and the ones who benefit are the early start-up project parties, the earliest whales participating in liquidity mining, and the miners on public chains such as Ethereum. As more people participate, The more expensive the handling fee (today's Ethereum handling fee has far exceeded the handling fee on Bitcoin, and the total value of its daily flow has also exceeded that of Bitcoin, the main reason for this is the liquidity mining). From a short-term perspective, it is essentially a zero-sum game. If traders and liquidity providers cannot be settled in the end, this is a game of little long-term value, and it may end up in a mess. For ordinary users, it is not necessarily suitable for participation, and risks need to be well controlled.

At the same time, this kind of gameplay will also have a diminishing effect, because as the people who provide liquidity find that not everyone can make money in the market, people's enthusiasm will diminish, and finally return to a relatively rational average return.

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