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Rank #928 | Category
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xSUSHI Price Chart Update [XSUSHI]

xSUSHI Price Update Today

The XSUSHI price update as of now is $1.43. In the previous 24 hours, its trading volume was $17,817, and its value has increased by 9.17%. As of now, XSUSHI's live market cap is $22,128,764, and it is ranked as the #928 on the Coincu. XSUSHI has a circulating supply of 15,496,786 and a maximum supply of 15,496,786.

About xSUSHI

Understanding xSUSHI: A Guide to the Token The xSUSHI token is acquired through staking SUSHI in SushiBar. This token has a higher value than SUSHI because the fee from the Swap feature is distributed to SushiBar. Whenever users perform transactions on the SushiSwap exchange, a fee of 0.3% is charged. Out of this fee, 0.05% is added to the Pool SushiBar as LP tokens. Once the reward Smart Contract is activated (minimum once per day), all LP tokens are utilized to purchase SUSHI. The purchased SUSHI is then distributed proportionally among all xSUSHI holders in the Pool. Due to the reward mechanism, the price of xSUSHI increases alongside the value of SUSHI, ensuring that 1 xSUSHI is always worth more than 1 SUSHI. Introduction to xSUSHI: Exploring the Token xSUSHI is a decentralized cryptocurrency exchange constructed on the Ethereum blockchain. Its objective is to enhance the Uniswap platform, which is currently the most popular Ethereum-based DEX in the cryptocurrency market. xSUSHI bears a strong resemblance to Uniswap in terms of form and function, as it is essentially a replica of Uniswap. It functions as a decentralized exchange protocol on the Ethereum blockchain, eliminating the necessity for an order book. Instead, it employs an "Automated Market Maker" (AMM) model, where liquidity providers contribute funds to Liquidity Pools for trading purposes. In return, these liquidity providers receive fees for their services. Functioning of xSUSHI: Behind the Scenes Similar to Uniswap, xSUSHI functions as a decentralized exchange protocol that does not rely on the Order book model. Instead, it utilizes an Automated Market Making model, where liquidity providers (LPs) contribute funds to Liquidity Pools. The primary distinction between xSUSHI and Uniswap lies in the SUSHI token. While Uniswap does not possess its own native token, revenue, or reward mechanism for contributors, xSUSHI incorporates all of these features. xSUSHI introduces its own token, which serves a specific purpose within the system and allows for profit sharing within the xSUSHI ecosystem. The Issue Addressed by xSUSHI - The obstacle at hand is the unequal benefits received by Liquidity Providers. - Similar to Uniswap, Liquidity Providers solely earn profits from the transaction fees of the pool they contribute liquidity to. Once they withdraw all the funds from the Pool, they no longer receive any income. - Moreover, as the Pool size expands, even early Liquidity Providers experience a decrease in profits due to the presence of more Liquidity Providers such as venture funds and exchanges. The Solution Offered by xSUSHI - Instead of using ETH Token like Uniswap, xSUSHI introduces its own token, SUSHI. - Users can earn SUSHI by providing liquidity to specific Pools, and a portion of the rewards from the liquidity pools is distributed among xSUSHI holders. - Unlike Uniswap, xSUSHI allows users to continue earning a portion of xSUSHI's fees, even if they decide to stop participating as liquidity providers. - Early participants in providing liquidity on xSUSHI have greater opportunities to earn profits on the platform.
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xSUSHI Markets
# Exchange Pair Price Volume Mkt Share Recommend
1 SushiSwap (Ethereum) XSUSHI/WETH $1.43 $8,244 46.27%
2 Uniswap v2 (Ethereum) WETH/XSUSHI $1.43 $4,819 27.05%
3 Uniswap v2 (Ethereum) XSUSHI/WETH $1.43 $4,753 26.68%
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