Sushi acquires Shipyard to address DEX performance issues
SushiSwap’s total value locked has declined sharply since 2021 highs, according to DefiLlama.
Sushi Labs has acquired Shipyard Software, a cryptocurrency trading software developer, in a bid to improve the performance of the SushiSwap decentralized exchange (DEX), Sushi Labs said on Jan. 28.
The acquisition seeks to address several common challenges facing DEXs, such as SushiSwap. They include “mitigating impermanent loss, optimizing liquidity provisioning, and enhancing multichain trading efficiency,” Sushi Labs said in a statement shared with Cointelegraph.
The deal comes as SushiSwap seeks to regain lost ground after a protracted decline in total value locked (TVL) since 2021. The DEX is also facing increasing competition from DEXs on Solana and emerging chains such as Hyperliquid, which specializes in trading.
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Author: Alex O’Donnell
