Sushi Developers Aim to Open Derivatives Exchange in Q2

Decentralized exchange (DEX) main developer of platform SushiSwap Sushiaims to open a derivatives exchange through the Sei network operating in the Cosmos (ATOM) ecosystem.

The developers coincided with the derivatives exchange plan to coincide with the mainnet launch of Sei Network. Sei Network’s mainnet chain will be active in the second quarter of the year. According to the Sushi team’s plan, the derivatives exchange will operate on a peer-to-peer basis and support cross-collateralization.

Blockchain developers, if the name of the decentralized derivatives exchange Vortex determined as.

Sushi Wants to Expand Its Domain

One of the largest decentralized exchanges SushiSwapAlthough , made a name for itself with spot trading, it lagged behind most projects in the derivatives field. Sushi manager Jared Gray stated that with the crossover of the platform from the Ethereum network to Sei, the movement areas will increase.

“Our aim is to increase our product range by benefiting all stakeholders in the Sushi ecosystem with projects such as Vortex that will come to life in the Sei network. We think Sei Network is the best network for our derivatives exchange venture.”

DeFi platforms have been showing a lot of interest in Cosmos lately. sushi, cosmos It was one of the first crypto projects to announce that it would expand to its network. Leader in the decentralized derivatives exchange space dYdX plans to switch to the Cosmos ecosystem in 2023.