TOKYO, July 20, 2021 /PRNewswire/ -- On July 20th, 2021 at the SushiSwap presentation held at ETHCC in Paris, France, Sushi CTO, Joseph Delong, revealed the organization's newest development, Trident, coined as "The Next Generation AMM". The CTO emphasized that the upcoming revamp of Sushi's decentralized platform has been built in-house as the company's response to critics who have claimed that: "Sushi is just a fork." The presentation went on to say that the new AMM, which has not been forked from any existing code, has taken inspirations from previous Sushi forum proposals that community members would know as, 'Mirin,' and, 'Deriswap,' which was initially advised by Sushi ecosystem partner, Andre Cronje, of Yearn Finance.
Trident's new features will include a wider variety of pool types, moving away from the singular constant product pool, commonly used by DeFi protocols. This includes, the coined, "Hybrid Pool" which reduces swap price impacts by using a stableswap curve to trade between similar assets. The presentation stated that the new AMM will feature 4 pool types at its launch, but that an IPool interface will not only standardize pool interfaces across Ethereum, but also allows for further pool types to be added. Sushi users will be given the ability to select a pool that better suits their risk profile, as the organization attempts to relieve some of the market risk and volatility experienced by cryptocurrency investors.
To further assist in this effort, Sushi announced that they will be using a new routing engine, which they have named, Tines, to query the various pools to discover optimal price solutions by considering factors such as, gas costs and price impacts.
Further, Trident is built inside BentoBox - Sushi's token vault system, that will also offer passive yields on top of deposited assets. Trident has been built on this token vault to boost the power of Sushi's new AMM by applying strategies to virtual balances within itself. Delong went on to say: "Yield from these strategies are returned to the user, which makes Trident the most capital efficient AMM in existence."
In accordance with usual DeFi practice, the presentation emphasized that the Trident code will be open source, surprising many that Sushi will not follow suit of AMM predecessor, Uniswap, who recently launched their most recent AMM upgrade making a point to not open the code to the public.
Sushi.com's new Trident AMM will have its public release in a few weeks, with future versions including the anticipated "Franchised Pools," which offers a partnership mechanism for the, seemingly at odds, CEX and DEX industries and storage proof TWAP. To celebrate, the Sushi team has airdropped its ETHCC presentation attendees a special Trident-themed NFT titled, 'Bad Trip.' A fractionalized token version of the NFT, ticker symbol LSD, will be given a token auction on Sushi's IDO platform, MISO, on Tuesday, July 20th at 4pm UTC.