SushiSwap Update: Introducing new liquidity mining project "Onsen", integrating project mining into regular operations

As Bitcoin continues to reach new all-time highs, SushiSwap, which always seems to have something new to offer, has quietly launched a new liquidity mining reward program called Onsen, which started providing rewards on the 25th of this month in Taiwan time.

Replacing Menu of the Week

JiroOno became a full-time developer for SushiSwap on October 4th and announced the Onsen liquidity mining program on Twitter. Onsen replaces the previous product line Menu of the Week, with a similar intention of developing new deep liquidity pools. This time, 44 liquidity pools with SUSHI rewards were introduced, available at liquidity pools.

Happy Holidays from the SushiSwap Team

To keep you all warm during this time, I'd like to officially announce the launch of Onsen ♨️♨️

Onsen is our new liquidity mining incentivization program, to replace the Menu of the Week. pic.twitter.com/pPSucKDarc

— Jiro (🍣,🍣) (@0xJiro) December 24, 2020

The Onsen mining rewards will last for 90 days, after which the trading pairs will be evaluated and changed accordingly. Currently, tokens covered by Onsen include Yearn ecosystem tokens such as PICKLE, AKRO, CREAM, as well as MKR, BADGER, and more, as shown in the image below.

JiroOno pointed out that the development team is actively seeking solutions to assist various independent projects in participating in the "Joint Liquidity Mining Program," allowing liquidity providers to earn double mining rewards.

Integration with Major DeFi Protocols

Cream Finance

Lending protocol Cream Finance announced on Twitter on December 24th that after the launch of Onsen, liquidity providers for CREAM/ETH and CrETH2/ETH pools will be able to stake LP tokens on SushiSwap and earn SUSHI rewards.

Pickle Finance

On the same day, DeFi platform Pickle alsoannounced the opening of five liquidity pools on SushiSwap, including ETH/DAI, ETH/USDC, ETH/USDT, ETH/WBTC, and ETH/YFI.

PieDAO

Asset allocation autonomous organization PieDAO announced the launch of the DeFi investment index YPIE on the 19th andintegrated it with SushiSwap on the 25th, including YPIE, seven DeFi+L indexes, the crypto balance index BCP, and its governance token DOUGH, all integrated into the Onsen liquidity mining program.

However, what is most intriguing is SushiSwap's new interface. The SushiSwap frontend design, known for its stunning visuals, is set to release a new interface similar to centralized exchanges, integrating limit order functionality, one-click liquidity migration, and adding or removing liquidity all in one interface.

A new SushiSwap interface… I call this the Midnight Degen 🌃 SushiSwap Plugin will make it easy to use SushiSwap anywhere in any interface. Up next, Blue Wave (Sushi-Yearn) pic.twitter.com/o5u9yQ1ig0

— OMAKASΞ (@OmakaseBar) December 23, 2020

In addition, lending solution Bentobox and leverage trading functions are also set to launch soon. After the new mining program was launched, liquidity increased from a low of $1.05 billion on the 23rd to $1.31 billion before the deadline.