Sushi

SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens.SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens.SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI. SushiSwap was founded by the pseudonymous entity known only as Chef Nomi.

Little is known about Chef Nomi, or his or her impetus for forking off from Uniswap. The project has two other pseudonymous co-founders, sushiswap and 0xMaki, also known as just Maki. Between them, they handle SushiSwap’s code, product development and business operations.More recently, de facto ownership of SushiSwap was passed to Sam Bankman-Fried, CEO of derivatives exchange FTX and quantitative trading startup Alameda Research. Bankman-Fried is a well-known participant and cryptocurrency market commentator, regularly appearing in media interviews.