When Harmony launched the Ethereum bridge last October, it had a total of 230,643 transactions. Since then, there has been a phenomenal increase in activity by 585%. The total number of transactions now stands at 1,580,021. Sushi’s launch on the Harmony network will allow users to benefit from Sushi’s features on Ethereum, setting aside the high gas fees.
How To Use Sushi On Harmony Protocol?
- To connect to the Harmony Network using Metamask, Users have to include a custom RPC endpoint.
- Include these details to complete your custom RPC
Network Name: Harmony Mainnet
New RPC URL: https://api.harmony.one
Chain ID: 1666600000
Currency Symbol: ONE
Block Explorer URL: https://explorer.harmony.one/#/
Then click “SAVE.”
- Users can swap between tokens of their choice by choosing the required amount and then clicking on the Swap icon.
- Metamask will prompt you to confirm the transaction, and the trade will be executed with Harmony’s 2-second finality.
- The Pool icon on the navbar will let users add liquidity to Sushiswap. They can either select the ‘Add Liquidity’ option or can choose the ‘Create a Pair’ icon.
Sushi is a community-led cryptocurrency decentralized exchange (DEX), part of the Yearn DeFi ecosystem on the Ethereum blockchain. The SushiSwap protocol realigns incentives for network participants by introducing revenue sharing and forum-driven network efforts to the popular AMM model. With over 921 trading pairs and $4.55 Billion in liquidity, Sushi has a daily trading volume of $237 million.
Harmony is a fast and secure blockchain for decentralized applications. Harmony’s production mainnet supports 4 shards of 1000 nodes, producing blocks in 2 seconds with finality. Harmony aims to build an open network of nodes operated and governed by a large community. This node community is called Pangaea.
Harmony’s Effective Proof-of-Stake (EPoS) reduces centralization while supporting stake delegation, reward compounding, and double-sign slashing.
The team at Harmony has expressed interest in deploying other Sushi products on its network to benefit all Harmony users.