The main DeFi protocols develop a multi-chain decentralized financial ecosystem, with SushiSwap providing its contracts in five networks and announcing balancer ports for Moonbeam and Polkadot.
On March 3rd, Joseph Delong, CTO of SushiSwap, announced that DEX had signed contracts for xDai, Moonbeam Network, Binance Smart Chain, Polygon (formerly Matic) and Fantom. Delong noted that Sushi plans further future deployments, including optimism. A Solana port is also being considered.
While the CTO stated that users can expect “relatively complete” experiences with Fantom and Binance, as both networks currently “have good token list support,” “the other three networks” will “need some work” before the full user experience of sushi will be available.
Delong also noted the industry-wide trend of “Bridges and Multichain Deployments” as an interim solution, while second tier scaling solutions for Ethereum are still under development:
“These deployments are relatively easy to develop. The industry is currently leaning towards bridges and multichain deployments as a mid-step ahead of L2 to reduce high gas costs. “
Delong added that incentive rewards are not currently available for users with multiple chain pools.
According to Dune Analytics, SushiSwap is currently the second largest DEX with a weekly volume of nearly $ 3 billion, trailing Uniswap’s $ 6.5 billion.
Sushi isn’t the only major DEX for Moonbeam Network, which offers a Polkadot-powered Ethereum-compliant smart contract platform that allows developers to build interoperable applications.
On the same day, Moonbeam announced that the popular DEX balancer will work with the Parity team to port its AMM to its platform.
The announcement indicated that Polkadot-based assets will be available for trading as ERC-20 tokens on Balancer once the exchange is deployed on Moonbeam.
Balancer is currently the fifth largest DEX by volume and has completed a trade worth $ 525 million in the past seven days.
The announced ports were created after record high gas fees on Ethereum.
