Decentralized exchange SushiSwap launched its Trident Automated Market Maker (AMM) on Polygon blockchain today. The release is said to set a new standard for any other AMM that could be built on top and currently comes in Phase-1 beta version.
Trident is live on @0xPolygon ’Tri’ our phase 1 Trident release at https://t.co/pWkBIPgcOw ( Switch (NYSE:SWCH) network to #Polygon)Read more at https://t.co/FNvsrQK1Rf Important: This launch is a preview release - use at your own risk. For questions head over to Discord! pic.twitter.com/Ihuzh8r99e— SushiSwap (@SushiSwap) March 16, 2022
Although presented as an AMM, Trident itself is not a specific AMM and is more a production framework for building and deploying AMMs, says an official announcement.
To remind, the majority of currently existing AMMs are operating as a decentralized and autonomous technology that enables liquidity operations on decentralized exchanges or liquidity pools.
According to the SushiSwap team, the concept behind this framework is to consolidate various hard-coded swap environments that typically require the same underlying methods to offer a single interface.
“By consolidating them into an interface, the development process can occur more rapidly at a community level,” says Sushi.
Introduced as a next generation AMM back in 2021, Trident should also set the new standard of how liquidity pools are created by using an IPool interface, which is extended into every trident protocol and is the core of the Trident framework.
“Pool (NASDAQ:POOL) types have reached a point of complete saturation in the Ethereum development environment, and they would benefit from consolidation into an interface that allows developers to make advancements more rapidly, collectively,” claim the creators. “Much like the ERC-20 token standard was needed for token types to become efficient, the IPool standard is needed to make pool types more efficient,” they say.
As stated, the first phase is completed with Trident’s Classic pool available to preview on Polygon blockchain. The team says it will be ported on to other blockchains after security tests are done.
SUSHI price jumped
Crypto markets reacted positively to the news with expectations that the launch of Trident will help to boost liquidity on Polygon’s network and contribute to the growth of SushiSwap ecosystem.
SUSHI token price jumped up by almost 8% from $2.77 to $3.00 as of the publishing time. SushiSwap price is still more than 87% lower from it’s all-time high of $23.38, reached on March 2021.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
