Solana-powered AMM Raydium proposes SushiSwap integration to reduce fees

0
63

Large decentralized exchange SushiSwap is the latest move to consider measures to mitigate Ethereum’s extreme transaction fees and includes a potential port for the Solana blockchain.

A proposal posted on the SushiSwap forum under the code name “Bonsai” on February 22nd suggests expanding the platform for the Solana ecosystem. The integration aims to mitigate Ethereum’s skyrocketing transaction fees, which have hit new highs in the past 24 hours.

The proposal would include integrating SushiSwap with the Raydium platform, with the Solana-based automated market maker launched on February 21.

The author of the proposal, “Handroll”, notes that Raydium already provides support for SushiSwap’s liquidity pools: “

“We have been working on Raydium’s AMM and liquidity pool protocols since autumn 2020 and have just started on our platform […] Raydium’s protocol can already support SushiSwap liquidity pools for the serum order book. “

Handroll suggests integration begin with Raydium, which is working with SushiSwap to build support for liquidity pools and bet on Solana-based serum DEX. After a test phase in the Raydium test network, the teams were able to examine the provision of bonsai in the main Solana network.

According to the proposal, SushiSwap users will be able to perform token swaps and manage their income farms much faster and with a significant reduction in transaction costs after the integration is complete.

The SushiSwap team assumes that Bonsai will be live on testnet in the first quarter of 2021.

“We envision the final product as an additional offering on the SushiSwap page that retains the sushi interface and design but connects to Raydium backends,” added Handroll.

SushiSwap was separated from Uniswap at the end of August 2020 and, according to Dappradar, has become one of the most popular decentralized exchanges in the industry. The company has $ 3.6 billion in frozen assets.

Solana’s native tokens SOL and SRM have increased around 27% in the past 12 hours.