Decentralized Finance (DeFi) platform SushiSwap (SUSHI) integrates the so-called price feeds, or supply of price data, from Chainlink (LINK) with the decentralized trading platform. The automated market market (AMM) announced this on April 23.
The price feeds of the so-called oracles from Chainlink are intended for Kashi, a new loan platform for SushiSwap. Kashi is a credit and margin trading trading platform for lending various DeFi tokens.
Kashi uses a unique structure where each market on the platform is isolated from each other and forms a separate entity. The goal is to reduce the risk that a particular asset can slow down the entire protocol. Chainlink will provide accurate and current price data to the new platform.
“Chainlink’s historic achievement in securing billions for the DeFi ecosystem and easy integration is why we launched with Chainlink. Other Oracle solutions will be integrated into Kashi in the coming months. ”
Thus the reason for the collaboration. SushiSwap has also been on the Binance Smart Chain (BSC) since March due to the huge transaction costs on Ethereum (ETH). The new integration applies to both blockchain networks.
SushiSwap had a somewhat rocky start last year, accompanied by a lot of controversy. It has since grown into one of the largest DeFi platforms on the market. In March, SushiSwap hit a record $ 5 billion in crypto locked. Today, however, there is a considerable decline due to the red-colored market.
SushiSwap is a clone of Uniswap (UNI), which recently set a new record of $ 10 billion in one-week transactions. PancakeSwap, also a clone, but on BSC, recently surpassed both platforms. As a result, BSC recently processed even more transactions than Ethereum. Yet Maker (MKR) is currently the largest DeFi platform.