Report: SushiSwap Takes Some of Uniswap's Market Share After Yearn Merger
Following its merger into the Yearn ecosystem, SushiSwap has been taking market share of leading decentralized exchange Uniswap, according to a report from Cointelegraph.
Messari researcher Mira Christanto tweeted data illustrating that Uniswap’s share of the Automated Market Maker sector has declined as Sushi’s share expanded from mid-December until last week.
Christanto asserts the Yearn merger has given Sushi a newfound legitimacy, allowing the project to move past criticism of the project that launched in August as a clone of Uniswap and secured TVL early on via a so-called “vampire” liquidity attack.
In November, Sushi attracted further liquidity away from Uniswap by introducing yield farming rewards for pairings that had been previously incentivized by the leading DEX.
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