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DeFi

DeFi project SushiSwap 2021 roadmap and the MIRIN proposal

  • Sushiswap has announced its new roadmap for the year.
  • There are plans to transition to a new governance mode in Q4.
  • Sushiswap wants to compete with all crypto exchanges including those outside the DeFi space.

Sushiswap, a decentralized crypto exchange built on the Ethereum blockchain, announced its 2021 roadmap.

SushiSwap’s native token, SUSHI, currently trading at $4.80, gained 12% in 24 hours. The SUSHI token surged from $2.88 at the beginning of the year to its current price of nearly $5.

The project is up nearly 500% up since October last year. However, it is still more than 60% away from its all-time high of $12.50 reached in September.

One of the major highlights of the project was Binance setting up a SushiBar and addition of the SUSHI token to the exchange’s list of staking options.

The roadmap

The project is working on several milestones. 

The BentoBox soft-launch is planned for mid-January and there will be a version that includes some functionalities of BentoBox Plus.

DeFi protocols work with tokens which are stored somewhere, usually contracts for different token pairs. Tokens used in each protocol need to be approved. This is where the role of the BentoBox comes into the picture.

The BentoBox is a vault used to store all the tokens.

Sushiswap is planning to move to a new domain during the year to show that the project is no longer an automated market maker (AMM) “but an OpenOrg part of the Yearn ecosystem.

The DeFi project is considering transitioning to a new governance model and this could be completed in Q4 2021.

MIRIN introduction

SushiSwap is upgrading the protocol or Sushi Protocol v3 to MIRIN, a name derived from a light alcohol used to create sauce in Japanese cuisine. In as much as sauces are used to complement a dish, so does the MIRIN protocol. The main objective of the upgrade is to add liquidity. SushiSwap is using the update as a bridge to shift away from achieving milestones in the DeFin space to being at the forefront of the overall cryptocurrency exchange ranking.

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