What is SUSHI coin? SUSHI coin issue price, total amount and white paper introduction

SUSHI, the ERC-20 token of SushiSwap, enables community governance and plays a vital role in the platform's future direction.

Oct 05, 2024 at 07:41 am

What is SUSHI Coin?

SUSHI is the native token of the SushiSwap decentralized exchange. It is an Ethereum-based ERC-20 token that plays a crucial role in the platform's governance, allowing holders to vote on proposals and shape the future of the protocol.

SUSHI Coin Issue Price and Tokenomics

1. Issue Price: SUSHI was issued at a price of $1.06 per token during its initial liquidity offering (ILO) on August 28, 2020.
2. Total Amount: The total supply of SUSHI is capped at 250 million tokens.

3. Distribution: The SUSHI supply is distributed as follows:

   • 60%: SushiSwap liquidity providers
   • 20%: SushiSwap team
   • 15%: Liquidity allocation
   • 5%: Advisors and early contributors

SUSHI Coin White Paper

The SUSHI white paper outlines the key features and goals of the SushiSwap protocol. It discusses the following topics:

1. Decentralized Finance (DeFi): SushiSwap is designed to provide a decentralized alternative to centralized exchanges, offering users greater control over their funds and eliminating the need for trusted third parties.
2. Automated Market Maker (AMM): SushiSwap uses an automated market maker (AMM) model, where liquidity pools are created by users and facilitate trades without the need for traditional order books.
3. Governance: SUSHI holders have the right to vote on proposals that impact the development and direction of the SushiSwap protocol.

4. Utility Token: SUSHI has a number of use cases within the SushiSwap ecosystem, including:

   • Governance: Voting on protocol upgrades and proposals
   • Sushi Bar: Staking SUSHI to earn rewards and increase voting power
   • BentoBox: Providing liquidity while earning yield and reducing fees
   • Sushi Analytic: Accessing exclusive data and analytics