Sushi Joins Avalanche Rush Incentive Program with Combined $15M Allocation
Avalanche Foundation deepens program following initial announcement with blue-chip DeFi applications
The Avalanche Foundation has announced an expansion to its newly-launched Avalanche Rush liquidity mining program to incorporate Sushi, one of the largest DeFi applications by total value locked (TVL) and trading volume. The upcoming deployment of Sushi on Avalanche will provide DeFi traders access to a new suite of products with high yield farming rewards and near-instant finality. The recent announcement of Trident, Sushi’s next generation AMM, will provide the Avalanche ecosystem with exciting new features and abilities to maximize yield and efficiency.
The Avalanche Foundation and Sushi have each allocated up to $7.5M of liquidity mining incentives over a 3-month period. These will take the form of AVAX and SUSHI rewards, split evenly. The incentives will begin shortly, with an exact date announced soon.
Sushi has solidified itself as a DeFi Blue Chip, surpassing over $5B in asset growth in only 1 year since its launch. Its focus on multichain strategy has brought accessibility to $SUSHI incentives to a wide variety of blockchain audiences. The Sushi DEX has been deployed across 20 different blockchains with Avalanche as one of the few chains to provide $SUSHI incentives outside of the Ethereum mainnet.
“The Avalanche community is one of the most compelling reasons to align incentives with the Avalanche chain. We are a community-driven platform and admire the community focus in the Avalanche ecosystem and look forward to providing them with a positive DeFi experience.”–Sushi Lead Contributor, 0xMaki.
“Combining Sushi’s community-driven protocol with Avalanche’s high-performance capabilities will enhance the overall experience for DeFi users across the ecosystem.” –Emin Gün Sirer, Director at the Avalanche Foundation.
As part of the Avalanche Rush program, the Avalanche Foundation will work closely with Sushi and other top projects, including Aave, Curve, Stake DAO, and BENQI for interoperable farming, mining, and lending experiences. The recent launch of the Avalanche Bridge (AB) helps the program provide a diverse set of strong liquidity incentives, combined with a seamless user experience for DeFi protocols to join the Avalanche ecosystem.
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try an app on Avalanche today.
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