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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
- Issue Price: SUSHI was issued at a price of $1.06 per token during its initial liquidity offering (ILO) on August 28, 2020.
- Total Amount: The total supply of SUSHI is capped at 250 million tokens.
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:
- 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.
- 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.
- Governance: SUSHI holders have the right to vote on proposals that impact the development and direction of the SushiSwap protocol.
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
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