Sushi being available in iTrustCapital Crypto IRA / 401k retirement accounts is history made. This requires reflection on what has brought us here. It all started with the notorious DeFi “Food Coins” which seemingly appeared out of nowhere during the Summer of 2020. This time will forever be known as the first “DeFi Summer ” where innovation and experimentation of the new global financial system was in full swing. Entrepreneurs from every part of the world and every walk of life were able to bring their imaginations to life with nothing more than lines of solidity code.
Anonymous developers believed that Uniswap was a groundbreaking innovation, but should be owned by the community. This prompted the original Sushi team to fork the Uniswap codebase, insert a native governance token (SUSHI) and allow liquidity mining (farming) incentives in order to attract Total Value Locked and sticky users. This birthed SushiSwap – the first community owned fork of Uniswap. The Uniswap team quickly counter-punched by launching their native governance token (UNI), which likely had already been planned but was released early due to the vampire attack on their protocol.
The Sushi Team.
The Sushi team has since professionalized, growing into a heavy-hitting 15 person team led by the fearless leader 0xMaki and CTO Joseph Delong. While the team might be impressive, what is even more impressive is the die-hard community that has rallied into what is Sushi today – a community led project of entrepreneurs who want to see change in the global financial system.
What comes next for Sushi?
While SushiSwap has been a raging success by nearly every metric, including being the first decentralized exchange to be deployed on multiple Layer 1’s and Layer 2’s; the Sushi team is not stopping here. They are currently building a full-suite of products that will allow the Sushi community to add value to many parts of the Decentralized Finance Stack. The following projects are currently in development and will be owned under the Sushi brand and governed by the SUSHI token.
BentoBox is being coined as having the power to reinvent decentralized finance at large. BentoBox is a vault system that can support multiple dapps inside. These dapps are built in a gas efficient way that will save users money on network wallet fees, since tokens are already approved for use within the vault. More importantly, BentoBox automatically and algorithmically generates yield for depositors.
MISO is a suite of open-source smart contracts designed to allow nearly anyone in the world to to launch a new project on the SushiSwap exchange. MISO will help bring in new users, capital and traders to the exchange by making SushiSwap an ideal place for token creators and communities to launch new project tokens.
This is a secret project only known to the public as 7/20/21. There is not much information about this project but there are rumors that it’s specifically designed to compete with Uniswap V3 and other next-generation AMM’s due to a more improved and capital efficient design.
Tax Free Sushi
SUSHI is a community driven project operating at the cutting edges of decentralized finance and smart contracts. This means that investors need to ensure they do their due diligence before aping in. Luckily, trading SUSHI in an iTrustCapital Crypto IRA is tax-free.
If you want to learn more about tax-free trading, head to www.iTrustCapital.com
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