End to End Guide to SushiSwap- A Decentralized Exchange –

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prologue

A decentralized exchange (DEX) allows you to exchange (trade) crypto assets in a decentralized and secure manner. The decentralized exchange has evolved over time as new and unique features have been implemented in his DEX. Cross-chain transfer of assets is one of the latest features of decentralized applications. This feature allows one crypto asset to be transferred and exchanged from one blockchain to another crypto asset to the blockchain. SushiSwap, called xSwap, implements this cross-chain transfer functionality.

This guide will show you how to use one of the most popular decentralized applications, SushiSwap.

What is the need for a decentralized exchange?

Whenever I want to trade one crypto asset for another, I use a centralized exchange (Binance, FTX, etc.). These exchanges act as intermediaries between buyers and sellers of crypto assets. To trade on a centralized exchange, you must deposit your assets to the exchange. Because of this, the exchange controls your assets, not you.

To combat the above drawbacks, decentralized exchanges (SushiSwap, PancakeSwap) allow you to exchange one crypto for another directly from your Web3 wallet. Therefore, you do not need to deposit your crypto assets on the platform, you can trade directly from your Web3 wallet. So you have full control over your crypto assets.

What is Sushi Swap?

SushiSwap is one of the most popular Decentralized application in the crypto space. SushiSwap is a decentralized exchange initially built on the Ethereum blockchain, but now he has expanded to support multiple blockchains including Avalanche, Polygon, Arbitrium, Moonbeam and Optimism.

SushiSwap currently has over $1.3 billion in total locked value (TVL) on the platform. SushiSwap’s native token is the $SUSHI token, which you can bet on the platform for additional yield (current rate is APR 12.91%).

Using wallets and blockchain

Web3 Wallet:

A Web3 wallet is required to use decentralized applications. The wallet used in this guide is meta mask wallet.

MetaMask is a Web3 crypto wallet that supports multiple blockchains, allowing users to store, send, receive, buy and exchange crypto assets in a secure and decentralized way.

Blockchain:

To demonstrate the features and functionality of SushiSwap, we used a Web3 wallet. avalanche blockchain.

Avalanche is a layer 1 blockchain which is a fast, low cost and green blockchain.

Connect your wallet to SushiSwap

Before interacting with the decentralized application (dapp), the first step is to connect the Web3 wallet to the dapp.

You can connect your wallet to SushiSwap by following the steps below.

1. Click the Enter Sushi button on the SushiSwap homepage.
2. in the top right corner of the swap page[Connect Wallet]Click the button.
3. Select the wallet to connect.
4. Select the wallet account to connect the dapp to.
5. [次へ]Click the button.
6. [接続]Click the button.
7. Your wallet is now connected to SushiSwap. You can verify this by viewing the public address in the top right corner of the swap page.

Once the wallet is connected, you will be able to use the SushiSwap features.

swap

Swapping is a feature that allows cryptocurrencies to be traded in a decentralized and secure manner (as described above).

To exchange your crypto assets on SushiSwap, follow these steps:

1. On the swap page, click the token icon and select the token you want to swap.
2. Search for or click the token you want to exchange.
3. Enter the number of tokens you want to exchange.
4. [スワップ]Click the button.
5. Click the Approve button.
6. of the wallet[確認]Click the button.
7. [スワップ]Click the button.

of the wallet[確認]Click the button to confirm the transaction. Once the transaction is completed, the assets are exchanged.

xSwap

xSwap is one of SushiSwap’s newest features. xSwap is a unique cross-chain transfer swap facility that allows you to transfer and exchange crypto assets from one blockchain to another.

For example, converting AVAX tokens from the Avalanche blockchain to MATIC tokens on the Polygon blockchain can be done using the xSwap feature.

To transfer assets from one blockchain to another with SushiSwap, follow these steps:

1. On the Swap page, click the xSwap option.
2. Click the dropdown arrow to select the blockchain you want to transfer assets from.
3. Select the blockchain to transfer assets.
4. Click the dropdown arrow to select the blockchain to transfer the assets to.
5. Select the blockchain to transfer assets.
6. Click the token icon to select the token you want to exchange and transfer.
7. Search or click the token you want to swap and transfer on both blockchains.
8. Enter the number of tokens to transfer and swap.
9. [スワップ]Click the button.
10. [BentoBox の承認]Click the button.
11. of the wallet[署名]Click the button.
12. Click the Approve button.
13. of the wallet[確認]Click the button.
14. Click the Confirm Swap button.
15. of the wallet[確認]Click the button to confirm the transaction in your wallet.

Once the transaction is complete, the crypto assets will be credited to their respective blockchain wallets.

obtain

Earn is a feature that allows you to earn yield (interest) by adding liquidity to your decentralized application. Adding liquidity here means depositing two crypto assets into the platform. A platform with high liquidity can execute transactions faster.

Add liquidity:

To add liquidity to SushiSwap, follow these steps:

1. In the navigation bar, click Earn Options.
2. [ネットワーク]Click the dropdown option to select the blockchain you want to add liquidity to.
3. Choose a blockchain to add liquidity to.
4. Select a pool to add liquidity to.
5. [入金]Click the button.
6. Enter the number of tokens to add as liquidity.
7. [流動性を追加]Click the button.
8. Click the Approve button.
9. of the wallet[確認]Click the button.
10. [追加]Click the button.

of the wallet[確認]Click the button to confirm the transaction in your wallet.

remove liquidity

1. On the page of the pool whose liquidity you want to remove,[引き出し]Click the button.
2. Enter the number of tokens to remove from liquidity.
3. Click the Approve button.
4. of the wallet[確認]Click the button.
5. [流動性を削除]Click the button.
6. of the wallet[確認]Click the button to confirm the transaction in your wallet.

Conclusion

you see. Now you know how to operate SushiSwap. Therefore, assets can be seamlessly transferred between different blockchains. SushiSwap supports over 16,000 tokens. Most of these tokens can be scams and end up with zero. Please do thorough research before trading any tokens and be aware of the risks associated with decentralized exchanges.

All content in this article is purely for educational purposes and does not provide financial advice. If you enjoyed this guide, let us know in the comments. Please consider following. Thank you for your time.

important point

• A decentralized exchange gives users complete control over their assets.
• SushiSwap is one of the most popular decentralized exchanges.
• Swapping is a feature that allows one crypto asset to be traded for another in a decentralized and secure manner.
• xSwap is a unique cross-chain transfer facility that allows crypto assets to be transferred from one blockchain to another.
• Earn feature allows you to earn interest by depositing your crypto assets on the platform.
• no contentn This guide provides financial advice.

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