Why is SushiCoin Buyback (Is SushiCoin Valuable?)
Why is SushiCoin being bought back? According to Cointelegraph, recently SushiCo
Why is SushiCoin being bought back? According to Cointelegraph, recently SushiCoin has been bought back.
The founder of Sushiswap, ChefNomi, said, “In the past few months, liquidity mining has generated a lot of interest from community members in their favorite projects. Now we can explain why buybacks are needed with this concept.” Previously, on December 9, 2019, the SUSHI token price reached $1, but it was delayed due to various reasons. So why does SUSHI need a buyback?
First, the decentralized mechanism leads to a higher buyback rate; second, the liquidity pool is too large, which means traders have to deposit liquidity into exchanges to continue earning profits, hence the need for buybacks.
Is SushiCoin Valuable?
Editor’s note: This article is from Lanhu Notes (ID: lanhubiji), author: LornaQ. Authorized repost by Odaily Star Daily.
Sushiswap is one of the hottest DeFi projects currently, and its token Sushi has increased nearly 100 times in a short period of time. However, there are still some key factors to pay attention to. 1. Is it worth buying and holding? How does it operate? What is its value? What impact can it have on the future? 2. What is its relationship with other cryptocurrencies? 3. Does it have the potential to become a mainstream asset? 4. Is it available for sale or use? 5. Is it an inflationary asset or a speculative asset? I think this question is important. First, whether the price of the Sushi token will change over time. In the long run, it may experience large fluctuations (although this does not necessarily lead to market volatility). Of course, some people may already know this. So, does Sashimi have any value?
SASHIMI is a DeFi project launched in August 2020. The total supply is 21 million, of which 60% is used for liquidity mining and 30% is for transaction fee rewards pool. This means that only 1 SUSHI is produced and locked for one year in each block. In addition, the total supply of tokens for this project is less than 10 million, and the team is researching other protocols to promote network development. (Lanhu Notes note: According to official data, the market value of Sashimi is about 150 million US dollars) According to Twitter, if calculated at the current price, this number is equivalent to 250 million US dollars. However, if calculated at the current price, this number is about 20 million US dollars. But to understand the price of Sashimi, apart from whether it has investment attributes, you can also see if it can reach 10 dollars. So we can see that there is a certain risk in this situation. The following example will explain the reasons why the Sashimi price should be able to maintain a high position.
First, SashiMI is a deflationary cryptocurrency. Nothing is destroyed (even in some cases), it is just designed to incentivize positive behavior among participants in the ecosystem. It is not scarce like Bitcoin and cannot achieve financial freedom, and it is not even restricted. Therefore, when it starts to attract investors, it is no longer welcome because it only occupies a small market share of “altcoins”. Second, it is a weighted index generated based on an algorithm, which allows users to create more complex applications. Finally, this is a manifestation of decentralized financial applications, providing various services and governance functions (such as mortgage lending and liquidity mining).
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