SushiSwap, a decentralized exchange (DEX) deployed on more than 30 blockchains, is now available on Rootstock, a pioneering Bitcoin (BTC) sidechain.
The Sushi announced on Thursday the integration with Rootstock, which aims to bring decentralized finance (DeFi) to the Bitcoin ecosystem.
The value of SUSHI rose after the news, rising by about 3% to $1. 23.
Rootstock is the first EVM-compatible Bitcoin (BTC) sidechain, introduced in 2018 when the crypto industry was experiencing exponential expansion in smart contract projects.
With the security-enhanced Bitcoin mining mechanism, Rootstock aims to expand the global reach of DeFi in Bitcoin Ethereum-compatible smart contracts. The network provides must-have features of maximum scalability, fast transactions, and interoperability.
The integration of Sushi will allow SUSHI holders to trade and provide liquidity on the Bitcoin sidechain, and users will benefit from Bitcoin’s security and decentralization.
The integration will expand SushiSwap’s capabilities into Rootstock’s DeFi ecosystem.
“This collaboration marks a significant expansion into the DeFi sector for Rootstock, editing its ecosystem with Sushi’s complex business functions. It also bolsters the expansion of multiple Sushi chains by adding Rootstock to the network, offering users features that come with Bitcoin in DeFi. “the Sushi team said in a statement.
Sushi helps connect Bitcoin-Fi and DeFi, giving the network access to new opportunities by leveraging BTC assets.
Some of the features that Sushi brings to Rootstock include token swapping and liquidity provision. Users can pull them from Sushi’s Automated Market Maker (AMM) V2 and V3, a DEX aggregator, and the Route Processor four (RPfour). The latter guarantees power and optimized operations.
Rootstock users can access DeFi protocols and other RBTC dApps, a local token that is connected 1:1 to BTC.
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