Decentralized Exchange

SushiSwap Review 2023: The user-friendly DEX for ERC-20 token trading

Author: Sohrab Khawas

Sohrab Khawas right arrow




    SushiSwap, the decentralized exchange built on the Ethereum blockchain, has been making waves in the cryptocurrency world with its innovative approach to trading ERC-20 tokens. As we move into 2023, SushiSwap continues to prove its worth as a valuable player in the decentralized exchange space. In this article, we will take a deeper look into the features and benefits of SushiSwap and provide a review for 2023.


    Official Web Address 
    HeadquartersNo headquarters. Operated by DAO
    Country of OriginJapan
    Founding Year2020
    Exchange TypeDecentralized
    Trading OptionsSwap
    Gas fees0.30%
    No of Tokens400
    Native TokenSUSHI
    Fiat currenciesNot supported
    Mobile AppNo official mobile app

    What is Sushiswap?

    Sushi a.k.a SushiSwap is a decentralized exchange (DEX) built on the Ethereum blockchain. It is a fork of the popular decentralized exchange Uniswap. But has its own unique features, for example, it has its own token called SUSHI that provides governance rights and a rewards system for liquidity providers. Using “the great Sushi Bake”, SUSHI tokens are distributed to users. The exchange aims to provide a decentralized, community-driven alternative to centralized exchange to trade digital assets.

    It supports 11,700 cryptocurrency pairs and allows trading across multiple crypto networks. Additionally, SushiSwap also offers features such as earning rewards, stacking yields, lending, borrowing, and leveraging. All of these features are available on one decentralized and community-driven platform.

    This decentralized platform is governed by $SUSH token holders. In addition to the core team handling day-to-day operations and development, major changes are also voted on by the community. Furthermore, the platform offers various products such as a decentralized exchange (Sushi), a lending market (Kashi), yield instruments (Onsen), an auction platform (Miso), an AMM framework (Trident), and payroll solutions (Furo).

    Sushiswap review 2023

    What is Sushi Token?

    SUSHI is a token used for governance on the SushiSwap decentralized exchange (DEX) built on the Ethereum blockchain. Holders of the SUSHI token can participate in community governance by voting on platform development and proposals. They can also stake their tokens to receive a portion of the transaction fees generated on the platform. SUSHI can be bought on the open market or earned by providing liquidity to the platform through liquidity pools. The total supply of SUSHI is capped at 250 million, which will be reached in November 2023.

    What is Sushi DAO?

    The Decentralized Autonomous Organization (DAO) of SushiSwap is governed by its community. The best part is that the Community members can participate and contribute to the project and its future at any point in time. Major structural changes and use of the “devfund” wallet are voted on by the community, while smaller changes affecting operations, such as changes to SushiSwap menu farming pairs, are decided on by the core team.


    SushiSwap is a decentralized exchange that offers several features to its users:

    • Liquidity provision: Users can provide liquidity to the platform and earn incentives in the form of trading fees and Sushi tokens, and can earn additional rewards by staking the tokens.
    • Token distribution: Sushi tokens are distributed to the stakers of the liquidity pools.
    • Trading fee distribution: The transaction fee is 0.3% which includes 0.25% for liquidity providers and 0.05% for xSUSHI holders as governance fees.
    • Security: The exchange has undergone security audits to ensure the safety of its users.
    • Academy: Sushi Academy is an educational resource for learning about DeFi for all levels of users.
    • Smart contracts: The platform continues to test its smart contracts to ensure their safety.
    • Liquidity migration: SushiSwap allows migrating the tokens staked for liquidity in the platform, to initiate a new liquidity pool for the token holders.
    • Decentralized governance: SUSHI token holders govern SushiSwap by community votes. It includes major structural changes and the use of the devfund wallet. However, the smaller changes affecting operations, such as changes to SushiSwap menu farming pairs, are decided on by the core team.
    • Cross-chain swap (SushiXSwap): Allows trading tokens across multiple crypto networks.
    • Other products include: Decentralized lending market (Kashi), yield instruments (Onsen), an auction platform (Miso), an AMM framework (Trident), and payroll solutions for vesting and streaming (Furo

    How to use SushiSwap?

    Using SushiSwap to trade cryptocurrencies involves a few steps:

    • Connect your wallet: You will need to connect your Ethereum wallet to the platform. Use a compatible wallet like Metamask or Trust Wallet.
    • Add liquidity: To start trading on SushiSwap, you’ll need to provide liquidity to a trading pair. This means adding an equal value of two different tokens to a pool. Click on the “Add Liquidity” button on the trading pair you want to provide liquidity.
    • Trade tokens: You can start trading tokens by adding liquidity to the pool. You can buy or sell tokens at the current market price or set your own limit orders.
    • Withdraw liquidity: You can withdraw your liquidity by clicking on the “Remove Liquidity” button on the trading pair you provided liquidity.

    It’s important to note that trading on a decentralized exchange like SushiSwap is different from trading on a centralized exchange. Transactions on a DEX can take longer to confirm, and the prices may be different from those on centralized exchanges. Additionally, the platform is still in development and may be prone to errors or bugs.

    It’s also important to note that the usage of Sushiswap may vary based on the version of the platform, the knowledge and experience of the user, and their own personal preferences.

    How to buy tokens on Sushiswap?

    In order to use SushiSwap, you need to connect an Ethereum-compatible wallet like Metamask or Trust Wallet to the DEX and follow the steps below

    1. Get the Metamask wallet browser extension from 
    2. Buy $ETH and send it to your Metamask ETH wallet address
    3. Then, add the Polygon network to your Metamask by following the steps on 
    4. Go to and connect your Metamask wallet
    5. On the swap page, select “xSwap” and choose “Ethereum” as the origin and “Polygon” as the destination
    6. Enter the amount of $ETH you want to spend and click “Swap”
    7. Confirm the swap and add the $MATIC token to your Metamask
    8. You have now successfully purchased $MATIC on the Ethereum mainnet and transferred it to the Polygon network.

    How to swap tokens on Sushiswap?

    Let us see how to swap MATIC tokens for USDC tokens

    1. Go to and connect your wallet
    2. Select the Polygon Mainnet on the drop-down menu
    3. On the top left corner of the swap window, select “Swap”
    4. Choose MATIC on the upper half of the Swap window and enter the amount you wish to sell
    5. Select the desired currency you want to sell your MATIC, for example, USDC & Click on ‘Swap’.
    6. Confirm the swap and that you have successfully sold your MATIC to USDC.

    Exchange Fees and Supported Payments

    The transaction fee is 0.3% which includes 0.25% for liquidity providers and 0.05% for xSUSHI holders as governance fees. This fee structure is in place to incentivize liquidity providers and xSUSHI holders to continue providing liquidity and participating in the governance of the Sushiswap platform.

    Customer Support

    Sushiswap does not have a dedicated customer support team. However, they have a community-driven support system in place. Users can get help and support by visiting their official website at, where they can find a variety of resources such as a FAQ section, guides, and tutorials. 

    They also have a dedicated community forum and a support center where users can find answers to common questions and seek help from other members of the Sushiswap community. Additionally, users can also reach out to the Sushiswap team on their social media platforms like Twitter and Telegram, where they may receive a response from the community.


    Sushiswap is a decentralized exchange that is built on the Ethereum blockchain. It allows trading a variety of cryptocurrencies, it has unique liquidity provision and token farming features, low transaction fees, and a user-friendly interface. The platform lacks dedicated customer support but provides community-driven support and resources to help users navigate the platform. 

    Sushiswap has the potential to be a good option for those looking to trade on a decentralized exchange and participate in governance, but it’s important to conduct your own research and due diligence before using it. 


    How to get trade rewards on Sushiswap?

    To get trade rewards on SushiSwap, you can provide liquidity to a trading pair by holding LP tokens, or staking xSUSHI tokens. By providing liquidity, you will earn a share of the 0.25% trading fees generated by the pool you have provided liquidity too. By staking xSUSHI tokens, you will earn a share of the 0.05% trading fees generated by all pools on the platform, proportional to your stake.

    Is Sushiswap safe to use?

    SushiSwap is a decentralized exchange that allows users to trade Ethereum-based tokens in a trustless and decentralized manner. It is built on the Ethereum blockchain, which provides greater security and transparency compared to centralized exchanges. However, there are certain risks to consider when using SushiSwap, such as smart contract bugs or vulnerabilities, and a lack of regulations.

    Is Sushiswap good for beginners?

    SushiSwap is a decentralized exchange (DEX) built on the Ethereum blockchain that allows users to trade ERC-20 tokens. As with any decentralized exchange, there is a learning curve for beginners to navigate the interface and understand how to properly use the platform. However, if a beginner is comfortable with the basics of cryptocurrency trading and is willing to take the time to learn how to use the platform, SushiSwap can be a good option. It’s important to keep in mind that with any decentralized exchange, the user is responsible for their own security and should take appropriate measures to protect their assets.

    Sushiswap Rating

    • Currency Support
    • Online Reputation
    • Gas Fees
    • Customer Support


    • Easy to navigate platform
    • 400+ tokens
    • No censorship and full ownership of digital assets
    • Community-driven platform


    • Limited to Ethereum-based Tokens
    • Limited liquidity compared to centralized exchanges
    • Lack of regulation may lead to hacking
    Show More

    Was this writing helpful?

    No Yes

    Related Articles

    Back to top button