【Exclusive】Sushi Chef Maki's perspective on Uniswap v3; lending product Kashi officially launched

After the release of Uniswap v3 details, what is the assessment of its biggest competitor, SushiSwap? We have an exclusive interview with core developer 0xMaki to get his perspective. In addition, SushiSwap also launched lending product Kashi yesterday, expanding its application range and taking a different path from Uniswap.

Exclusive: Maki: v3 Design is Interesting and Will Impact Liquidity Mining

Exclusive interview with SushiSwap core developer 0xMaki on his views about Uniswap v3. Maki stated:

"Uniswap's design is very interesting, but LPs will have to manage their positions much more complexly. The new trading markets and liquidity mining will also be affected by this new design. Ultimately, I believe SushiSwap will firmly establish itself in the long tail market of emerging digital assets, whether they are tokens or NFTs."

It is believed that the design of v3 currently appears to significantly improve capital efficiency, allowing LP liquidity providers to greatly increase their return on investment in terms of fees, which will attract LPs to AMMs or liquidity mining platforms through liquidity mining rewards. However, under the design of v3, LPs can no longer profit blindly, and pricing strategies will be much more complex, which may not be favorable for ordinary users. It seems that Maki acknowledges that SushiSwap will face pressure, but still remains competitive in the long tail market of emerging digital assets.

Continued Expansion of Product Range: Lending Product Kashi

What is Kashi?

Kashi has two interpretations in Japanese, one is "sweets" or snacks, candies, and the other is "lending," which perfectly fits SushiSwap's food-themed product pun and also aligns with the meaning of lending products.

Kashi is a lending product developed by the SushiSwap team, consisting of the token vault BentoBox and Kashi, which is a brand new upgraded version of the original BentoBox proposal.

The contracts for BentoBox/Kashi have been deployed on Ethereum, Moonbase (Polkadot smart contract platform), BSC, Fantom, HECO, TomoChain, and Matic mainnets, as well as several testnets (Kovan, Rinkeby, Ropsten). 10% of interest income will be distributed to XSUSHI holders.

App link here: https://staging.sushi.com/#/bento

BentoBox (Token Vault)

BentoBox means "lunchbox" in Japanese, where multiple tokens are stored in a box, and the tokens in the token vault will be placed in flash loans or lending pools to generate interest income. Subsequently, other protocol development teams can also develop lending products based on it.

Therefore, BentoBox can be seen as a "yielding wallet" and also as the foundational infrastructure for DeFi application development. This design greatly improves the efficiency of capital utilization and brings higher returns to token depositors!

Additionally, within BentoBox, token transfers are optimized for gas fees, with low interaction costs and one-time permanent approval.

Highlights of BentoBox: High capital utilization, high yield, low gas fees, one-time permanent approval.