Sushi to Start Weekly SUSHI Purchases on September 7th
Sushi will begin weekly SUSHI purchases for its Strategic Reserve on September 7th after the proposal passed both rounds of voting.Refer to the official tweet by SUSHI:The Sushi Strategic Reserve + Revised Buyback Program has passed both rounds of voting.What happens next:- Weekly SUSHI purchases into the Reserve start Monday, September 7th.- Monthly xSUSHI buybacks begin October 1SUSHI InfoSushiSwap is a decentralized exchange protocol utilizing the automated market maker (AMM) model. Unlike traditional exchanges, it operates without an order book or any centralized entity, relying instead on smart contracts to facilitate trades.Transactions on SushiSwap occur within liquidity pools. In these pools, users lock their crypto assets to become liquidity providers (LPs). In return, LPs earn rewards relative to their pool share. The basic premise involves depositing an equivalent amount of two tokens to create a market. Users then trade ERC-20 tokens within these markets. Additionally, SushiSwap offers features like SushiBar, where SUSHI tokens can be staked to earn xSUSHI and subsequently garner a portion of the trading fees. BentoBox, another feature, serves as a multifunctional vault allowing users to earn yields in various ways, including staking and lending.SUSHI is the native ERC-20 token of the SushiSwap platform. Distributed via liquidity mining to those providing liquidity, it grants holders governance rights over the protocol and a share of the collected fees, effectively making the community the owners of the protocol.