SushiSwap’s large decentralized platform is the latest to consider for reducing excessive Ethereum transaction fees, and includes a potential gateway to the Solana blockchain.
The proposal, posted to the SushiSwap forum on February 22, codenamed “Bonsai,” involves expanding the platform to the Solana ecosystem. The integration is designed to reduce high Ethereum transaction fees, which have grown into new full-time points in the last 24 hours.
The proposal will include SushiSwap’s integration with the Raydium platform with the launch of a Solana-based automated market maker on February 21.
The author of Handroll’s suggestion notes that Raydium does indeed support sushiSwap’s liquidity aggregators:
“We have been working on AMM and Raydium liquidity pooling protocols since Fall 2020 and just launched our platform […] The Raydium protocol can actually support liquidity pooling from SushiSwap for serum order book.”
Handroll proposes to begin integration with Raydium who works with SushiSwap to build support for Solana’s liquidity pools and Serum DEX efforts. After a trial period on the Raydium test network, teams were able to examine the Bonsai distribution on Solana’s main network.
The proposal argues that SushiSwap users will be able to make token swaps and manage a much faster ROI with significant transaction cost savings once the integration is complete.
The SushiSwap team expects bonsai to reach testnets in the first quarter of 2021.
“We see the end product as a supplement to SushiSwap, which supports Sushi’s user interface and design, but plugs into Raydium server modules,” added Handrol.
Uniswap’s SushiSwap fork in late August 2020 has grown to become one of the most popular decentralized exchanges in the industry, with closed assets of $ 3.6 billion, according to Dappradar.
Solana tokens, SOL and SRM, are up nearly 27% in the past 12 hours.