- SushiSwap, the decentralized finance ecosystem's largest automated market maker, is now building on Avalanche's blockchain and committing $7.5 million to liquidity mining.
- Avalanche's native token AVAX has surged nearly 160% in the past week in a bull run triggered by the launch of the $180 million in decentralized finance incentives.
- Avalanche's bridge facilitates the transfer of Ethereum tokens to Avalanche re-released alongside the mining incentives program attracting large decentralized applications like SushiSwap.
Avalanche, the fastest smart contracts platform in the blockchain industry, geared up to capture a larger market share of the decentralized application (dApp) ecosystem and launched Avalanche Rush on August 19. Rush is a $180 million liquidity mining incentive program.
SushiSwap next largest project to start building on Avalanche after Aave and Curve Finance
In the race to acquire the largest share of the Decentralized Finance (DeFi) ecosystem's Total Value Locked (TVL), Avalanche is competing with rivals, Solana and Terra.
Avalanche is an open, programmable smart contracts platform that claims to be the fastest in the industry. The project was created by Cornell University computer science professor Emin Gün Sirer and features on the community's list of "Ethereum killer" projects.
Through $180 million liquidity mining incentives, the platform aims to attract projects like SushiSwap to build on their blockchain network. SushiSwap is among the most significant players in the DeFi ecosystem, alongside Aave and Curve Finance that are already building on Avalanche's blockchain.
Avalanche announced SushiSwap's addition to its platform on crypto Twitter.
#AvalancheRush is welcoming a new member to the lineup!
Hope you’re coming with an appetite because @SushiSwap is now on the menu.
The largest DeFi incentive program ($180M) now just got better. #AVAX https://t.co/J5ibiei3s9
— Avalanche (@avalancheavax) August 24, 2021
