# Sushiswap By [Web3 World ](https://paragraph.com/@web3-world-2) ยท 2023-04-22 --- SushiSwap is a decentralized exchange that runs on the Ethereum blockchain. It was created in August 2020 as a fork of Uniswap, another decentralized exchange, by a pseudonymous developer known as Chef Nomi. SushiSwap was designed to improve upon Uniswap's model by offering incentives for users to provide liquidity to the platform. This is done through a process called liquidity mining, where users are rewarded with SUSHI tokens for staking their cryptocurrency on the platform. These tokens can then be traded on SushiSwap or exchanged for other cryptocurrencies. One of the main benefits of SushiSwap is its low fees. Because it is decentralized, there are no middlemen taking a cut of each transaction, which makes trading on the platform much cheaper than using a centralized exchange. In addition to liquidity mining, SushiSwap has introduced a number of new features to the decentralized exchange space. One of these is the ability to trade leveraged tokens, which allow users to gain exposure to the price movements of an asset without actually owning it. SushiSwap also offers a governance token, called SUSHI, which allows users to participate in the decision-making process for the platform. This means that SushiSwap is owned and controlled by its users, rather than a centralized entity. However, SushiSwap has not been without its controversies. In September 2020, Chef Nomi sold $13 million worth of SUSHI tokens that were allocated for the development of the platform. This caused a backlash from the community, and Chef Nomi eventually returned the funds and stepped down from the project. Despite this incident, SushiSwap has continued to grow in popularity. As of April 2023, it is the eighth-largest decentralized exchange by trading volume, with a total value locked (TVL) of over $5 billion. **_In conclusion,_** SushiSwap is a decentralized exchange that offers low fees, liquidity mining, leveraged tokens, and a governance token that allows users to participate in the decision-making process for the platform. While it has experienced some controversies, it has continued to grow in popularity and is a significant player in the decentralized finance (DeFi) space. --- *Originally published on [Web3 World ](https://paragraph.com/@web3-world-2/sushiswap-2)*