How SushiSwap’s BentoBox and Kashi operate
Recently, SushiSwap released a new “aggressive strategy”. Its objective, to grow beyond its current use case as an automated market maker. The strategy revolts around BentoBox and Kashi Lending.
The first product is a single vault that contains the assets deposited by users and makes them available for DApps “builts off of the vault”, as Messari stated. In contrast with similar products, BentoBox is more efficient when transferring the token, more efficient in terms of gas fees and complexity, easier to integrate, and has “a single token approval for use”. On the other hand, Kashi is a lending and margin trading platform. Created as BentoBox’s first DApp, Kashi operates with “isolated lending pairs”, as Messari stated.By having specific lending pairs where the collateral can only be used to borrow one specific asset (eg. in a ETH/SUSHI pair, deposited ETH acts as the collateral for SUSHI and only SUSHI), the risk for users can be isolated to the quality of assets and oracle used for the pair.As a SushiSwap developer reported, both BentoBox and Kashi have been live for only a week. However, the products are already seen a high demand for the stablecoins pairs. In its lending pairs with USDC with over 70% utilization and 100% utilization for YFI/SUSHI. With USDT there has been a strong demand to use RUNE and ETH, as collateral and Bitcoin in its synthetic form wBTC. For this last part, there is around 50,000 to 70,000 avail and a 1% borrow rate.
Creates a one stop shop for projects to setup incentives for AMM LP providers and Kashi LP providers. Miso will push this even further along, and we imagine Sushi providing infrastructure for new projects to come market quick.SUSHI is trading at $12,41 with a 10.5% correction in the daily chart. In the weekly and monthly chart, SUSHI has 12.4% and 38.9% losses, respectively.