The SushiSwap community is now voting on a proposal to build SushiSwap on the Solana blockchain using the Solana-based Raydium DEX as a bridge.
Raydium proposes “acting as a bridge and partner for SushiSwap’s expansion onto Solana,” allowing SushiSwap to access additional liquidity from Serum and leverage the chain to increase transaction fees and lower fees. Raydium’s protocol is already able to support SushiSwap liquidity pools for the Serum orderbook, according to the proposal.
The Solana project says the end product could be an additional offering on the SushiSwap page that maintains Sushi’s trademark UI and design but connects to Raydium backends. SushiSwap’s Raydium pools would then be added on Raydium’s own platform, where they would be labeled as SushiSwap pools and would have access to Raydium and Serum’s wider community and liquidity.
Twitter user Fiskantes argued that “Sushi doesn’t need Raydium as much as Raydium needs Sushi,” and that Sushi liquidity providers who move their liquidity to Raydium will get “rekt” by competing with active order book market makers on Serum.
FTX CEO Sam Bankman-Fried said in rebuttal that “fast CLOBs (central limit order books) should decrease slippage for AMMs not increase it.”