Sishi Finance recently launched their AMM and yield farm aggregator on Binance Smart Chain March 27, 2021.
The sVault as it's known, has $681,456 TVL [total value locked] at the time of writing.
The total market cap is $376,199 and $SISHI is currently valued at $2.22 per unit.
The estimated monthly profit to those farming on Sishi.finance is $78,919.
Sishi has a relatively low circulating supply - there are only 165,022 $SISHI in circulation. When you compare it to PancakeSwap for example, the world’s most popular AMM and Yield Farm, you realize the vast difference in supply.
PancakeSwap has over 172 million $CAKE tokens in circulation. That’s a difference of more than 99% of tokens in circulation. So, the tokenomics of Sishi are definitely taking the edge compared to something like PancakeSwap.
Further, it’s basic supply and demand to understand it will take more money to move the PancakeSwap market cap than Sishi’s market cap - by keeping the circulating supply low initially it allows for early growth.
Sishi’s next block reward halving is in 18 days. I’ll be covering this project over the coming month as Sishi reached out and asked me to cover what they’re developing and the products they’ve already launched.
I really believe the yield farm model is one of the most interesting to keep an eye on whenever a bear market does actually emerge; moreover, investors will be looking for yield when their favorite projects that users can’t stake stop going vertical.
Sishi is currently undergoing an audit by CertiK. CertiK is a security auditing agency that has verified the code of many of crypto’s most popular projects.
I’ll include the link to CertiK’s verification of the code when it has been completed in a future article covering Sishi.
Next week's article will cover the current staking pool options and the AMM portion more in-depth.