SUSHI's new coin issuance platform MISO goes live with its first offering: tokenizing real sake, which will be delivered to your doorstep.

SushiSwap continues to expand its functionalities and has already taken a different development path from Uniswap. In the early hours of the 18th, SushiSwap's new token issuance platform - MISO (Minimal Initial SushiSwap Offering) officially launched, with its first token being SAKE, related to traditional Japanese sake.

5/20 SAKE Dutch Auction

"At the pinnacle of the skills of the brewery and technological innovation, each bottle of SAKΞ is a work of art." This is how the official introduction describes it. The new coin SAKE SAK3 to be issued on May 20 on MISO seems to have a collector's item feel.

• SAKE will undergo a seven-day Dutch auction
• The token available for purchase is called "SAK3," with a total circulation of 888
• SAK3 can be purchased with SUSHI, starting at 1 SAK3 = 88,000 SUSHI. If there are no takers, the auction price will decrease over time
• There will be 888 bottles of SAKE brewed, and a complete SAK3 is needed to exchange for one bottle of physical SAKE. Expected to be brewed by late August
• Initially, only 200 SAK3 tokens will be released on Ethereum, with more releases on other chains to follow
• After the auction, SAK3 will be tradable on SushiSwap

Sake Business Combines with Cryptocurrency

According to the official statement, one of the co-founders of SAKE is Elliot Faber, a sake merchant and restaurant owner in Hong Kong.

Investigations reveal that this sake is produced by Kitanishi Brewery in Saitama Prefecture, Japan, famous for its sake brand called Bunraku, which ranks 14th on a Japanese sake evaluation website list.

Adding value to SAKE is its design, with the bottle designed by the Bjarke Ingels Group (BIG), a Danish architectural firm. The firm has handled significant architectural projects worldwide.

MISO Launch Boosts SUSHI Amid Market Downturn

Recently, SushiSwap's SUSHI has been stagnant compared to the leading Uniswap UNI due to two factors: the surge in Ethereum gas fees and the competition from other chains like BSC and Solana, which have attracted liquidity miners. Additionally, Uniswap's v3 launch with different liquidity provision methods has widened the gap. Furthermore, after unlocking 2/3 of the mining rewards, SushiSwap faced selling pressure.

Nevertheless, SushiSwap is actively expanding its business, introducing services like KASHI for lending, yield tools like Onsen, and a new staking token called oSUSHI. The recent launch of a new coin issuance platform MISO official Chinese article allows token issuers to customize tokens and issuance models. As Maki, a key developer, mentioned, "Ultimately, I believe SushiSwap will firmly establish itself in the emerging long-tail market for digital assets, whether tokens or NFTs."

Furthermore, SushiSwap's cross-chain development is worth noting. According to SushiSwap, SuhiSwap v2 will also be launched in the middle of the year:

Despite the overall market downturn, SUSHI has defied the trend after the launch of MISO, rising from $15 to $22, making it one of the few cryptocurrencies to grow amidst Bitcoin's nearly 30% decline in the past seven days.