- SushiSwap recently revealed that it has built new crypto trading products for its decentralized exchange platform.
- Invented as “The Next Generation AMM”, users of the exchange will be able to create their own pools of liquidity.
- The DeFi platform aims to enable users to choose a pool that suits their risk appetite.
Ethereum-based decentralized exchange SushiSwap has announced its recent development of four new Automatic Market Makers (AMMs), which will function as a base layer for DEX.
SushiSwap unveils new MAs designed to be gas efficient
During the SushiSwap presentation at ETHCC in Paris, the CTO of the firm DeFi, Joseph Delong, revealed that the DEX has launched a new development called “The Next Generation AMM”.
The CTO added that the redesign of the DEX platform was designed in response to criticism from SushiSwap that said Sushi was just a fork of Uniswap.
The new AMMs, called “Trident”, will allow SushiSwap users to create their own liquidity pools. DEX further revealed that the team has built four AMMs.
New features in Trident will include different types of pools, making SushiSwap more unique as most DeFi protocols only use one constant product pool.
The ‘Hybrid Pool’ feature introduced by SushiSwap would reduce the impact of the swap price by using a stablewap curve when trading between similar cryptocurrencies.
While the presentation revealed that there will be four types of pools initially when it launches, other types of pools need to be added. Main DEX users could choose a pool that suits their risk appetite, as SushiSwap aims to reduce the market risk and volatility that cryptocurrency investors face.
Integrated with BentoBox – the token safe system behind SUSHI will be able to offer passive returns on deposited funds.
Trident will remain open-source, unlike its predecessor, Uniswap v3, which has not opened its code to the public. The new MAs will be publicly launched in the coming weeks.
SushiSwap price ready for a rebound
SushiSwap’s price has lost over 70% of its value since the May 18 high. While SUSHI has undergone a massive correction, the DEX token is poised to perform the fortunes reversal.
SushiSwap price revealed several trend extension troughs on the Dynamics Reversal Indicator (MRI) as SUSHI declined on the daily chart. This indicator suggests that the token is ready for a trend reversal.
SUSHI / USDT Daily Chart
For the SUSHI bulls to have hope, the SushiSwap price needs to close above yesterday’s red candlestick for confirmation. If buying pressure increases, the DEX token could mark the 20-day Simple Moving Average (SMA), approaching the 23.6% Fibonacci extension level at $ 7.70.
However, if the bears take control of the market, SushiSwap could retest the June 22 low at $ 5.97 before settling in the demand zone which stretches to $ 4.30.