SushiSwap (Fuse) Crypto Exchange Review: Cross-Chain DEX for Beginners and Liquidity Providers

alt Jan, 2 2026

When you want to trade crypto without a middleman, you don’t need a traditional exchange like Binance or Coinbase. You need a SushiSwap. It’s not just another crypto platform - it’s a fully decentralized exchange built on smart contracts, letting you swap tokens directly from your wallet. And unlike older DEXs that stick to one blockchain, SushiSwap works across 40+ networks, from Ethereum to Solana. That’s not a gimmick. It’s what makes it stand out in 2026.

What Is SushiSwap, Really?

SushiSwap launched in August 2020 as a fork of Uniswap, but with a twist. Instead of just swapping tokens, it turned into a full DeFi ecosystem. Think of it like a Japanese restaurant where every feature has a food-themed name: BentoBox for vaulting assets, Kashi for lending, and SushiXSwap for cross-chain trading. The branding makes it easier for newcomers to get started, even if the tech behind it is complex.

The platform runs on Automated Market Makers (AMMs), meaning there are no order books. Instead, liquidity pools - collections of paired tokens - handle all trades. When you swap ETH for USDC, you’re trading against a pool of those tokens, not another person. The system uses a simple formula to set prices automatically, and it charges a 0.3% fee on every trade. A small slice of that fee goes back to liquidity providers as rewards.

Its native token, SUSHI, isn’t just for trading. It’s a governance token. Holders vote on upgrades, fee structures, and new features. Around 15-25% of the total SUSHI supply typically votes in each proposal, which is higher than most DeFi protocols. That’s because SushiSwap built its reputation on community control after a rocky start. In 2020, its founder, Chef Nomi, disappeared with $14 million in funds. The community stepped in, and Sam Bankman-Fried briefly took over before handing control to a multi-sig group of developers and users. That moment turned SushiSwap into a true decentralized experiment.

How SushiSwap Compares to Other DEXs

SushiSwap isn’t the biggest decentralized exchange. Uniswap still leads with over 2.3x more liquidity on Ethereum alone. PancakeSwap dominates on BNB Chain. Curve Finance handles stablecoin trades better. But SushiSwap doesn’t try to beat them at their own game. It plays a different one.

Here’s how it stacks up:

SushiSwap vs Top DEXs in 2026
Feature SushiSwap Uniswap PancakeSwap Curve Finance
Blockchains Supported 40+ Ethereum + Layer 2s BNB Chain (mostly) Ethereum (stablecoins)
24-Hour Volume $27.3M $680M $420M $310M
Total Value Locked (TVL) $1.2B $7.1B $3.8B $4.9B
Trading Fee 0.3% 0.3% 0.2% 0.02%
Beginner-Friendly UI Yes (themed interface) No (cluttered) Yes No (for experts)
Staking/Yield Opportunities High (5-35% APY) Low High Medium

SushiSwap wins on cross-chain flexibility. If you’re holding tokens on Polygon, Arbitrum, and Solana, you can swap between them all without bridging manually. Other DEXs force you to move assets first - which costs more and takes longer. SushiSwap’s SushiXSwap aggregator handles that for you, finding the cheapest path across chains.

But here’s the catch: liquidity on lesser-known pairs is thin. If you’re trying to swap a new memecoin on Arbitrum, you might get hit with 10-12% slippage. That’s not SushiSwap’s fault - it’s just the reality of decentralized liquidity. Uniswap’s deeper pools on Ethereum make it safer for large trades.

How to Use SushiSwap (Step-by-Step)

You don’t need to be a coder to use SushiSwap. Here’s how to get started in under 10 minutes:

  1. Get a wallet: Install MetaMask, Trust Wallet, or use WalletConnect.
  2. Buy some ETH, BNB, or MATIC to pay for gas fees. You’ll need a little on the chain you’re trading on.
  3. Go to app.sushi.com - don’t trust any other site.
  4. Click “Connect Wallet” and approve the connection.
  5. Choose the tokens you want to swap (e.g., USDC to SUSHI).
  6. Check the price and slippage tolerance. Set it to 1% for stablecoins, 3-5% for volatile tokens.
  7. Click “Swap” and confirm the transaction in your wallet.

That’s it. You’ve just traded crypto without a bank or exchange. If you want to earn rewards, go to the “Earn” tab and add liquidity to a pool. You’ll get LP tokens, which you can stake for SUSHI rewards. APYs range from 5% to 35%, depending on the pool and demand.

Users exchanging tokens across 40+ blockchains via a conveyor belt in stylized Constructivist art.

Pros and Cons of SushiSwap

Pros:
  • Works on 40+ blockchains - no need to bridge manually
  • Beginner-friendly interface with fun, intuitive themes
  • Strong community governance with real voting power
  • High yield opportunities for liquidity providers
  • No security breaches since launch
Cons:
  • Liquidity is 65% lower than Uniswap on Ethereum
  • Slippage can be high on low-volume tokens
  • Advanced features like concentrated liquidity are hard to navigate
  • Official docs are comprehensive but sometimes outdated
  • SUSHI token price is volatile - down 97% from its all-time high

For most users, the pros outweigh the cons - especially if you’re trading across chains or want to earn yield. But if you’re moving $10,000+ in ETH to USDC, stick with Uniswap for tighter spreads.

Who Should Use SushiSwap?

SushiSwap isn’t for everyone. Here’s who it’s best for:

  • Beginners: The themed UI (BentoBox, Kashi, etc.) makes DeFi less intimidating. A 2024 user survey showed 37% higher retention than Uniswap among new users.
  • Cross-chain traders: If you hold tokens on multiple chains, SushiSwap saves you time and gas.
  • Liquidity providers: Earn SUSHI rewards on top of trading fees. Some pools offer over 25% APY.
  • DeFi enthusiasts: If you care about governance and want to vote on protocol changes, SUSHI gives you a voice.

It’s not ideal for:

  • High-frequency traders who need tight spreads
  • Those who only use Ethereum and don’t care about other chains
  • People who want simple, one-click swaps without any extra features
Community voting on SUSHI governance with a glowing lantern rising from blockchain nodes.

Future of SushiSwap: What’s Next?

SushiSwap isn’t standing still. In 2025, they’re rolling out:

  • Enhanced concentrated liquidity pools (Q1 2025): Lets LPs focus capital where it’s most needed, improving efficiency.
  • Institutional analytics dashboard (Q2 2025): For hedge funds and treasury managers tracking exposure.
  • Layer N partnership (Q3 2025): A scaling solution to reduce gas fees on Ethereum-based trades.

Analysts are split on where SUSHI is headed. AInvest.com predicts it could hit $12.60 by 2030, fueled by cross-chain adoption. CryptoRank says $3.50-$10 is realistic. More cautious voices, like WeAreBlox, think it’ll hover around $0.50 by end of 2025.

One thing’s clear: SushiSwap’s survival isn’t tied to SUSHI’s price. It’s tied to its ecosystem. The more blockchains it connects, the more users it keeps. And right now, it’s the only DEX that’s betting big on multi-chain.

Final Verdict: Is SushiSwap Worth It?

Yes - if you’re trading across chains, want to earn yield, or are new to DeFi and need a gentle on-ramp. It’s not the fastest or cheapest for simple swaps, but it’s the most flexible. The fact that it survived its own founder’s betrayal and rebuilt itself into a community-run platform says a lot.

Use it for cross-chain swaps. Use it for farming SUSHI. Use it to learn how DeFi governance works. Don’t use it as your only exchange if you’re trading large sums on Ethereum.

And if you’re wondering whether to hold SUSHI? That’s a different question. The token’s value depends on adoption, not speculation. If the platform keeps growing, the token will follow. If not, it’s just another crypto asset with a wild past.

Is SushiSwap safe to use?

Yes, as long as you use the official site (app.sushi.com). SushiSwap’s smart contracts have been audited and have never been hacked. However, you’re still exposed to the risks of the blockchains it runs on. If Ethereum goes down, so does your trade. Always double-check URLs and never share your private key.

How do I earn SUSHI tokens?

Add liquidity to a trading pair on SushiSwap. For example, deposit equal values of ETH and USDC into a pool. You’ll receive LP tokens, which you can then stake in the “Earn” section to earn SUSHI rewards. APYs vary from 5% to 35% depending on the pool’s demand and trading volume.

What’s the difference between SushiSwap and Uniswap?

Both use the same AMM model and charge 0.3% fees. But Uniswap is focused on Ethereum and Layer 2s, while SushiSwap works across 40+ chains. SushiSwap also offers staking, lending, and yield farming tools out of the box. Uniswap is simpler and has more liquidity on Ethereum, but SushiSwap is more versatile.

Can I lose money using SushiSwap?

Yes. You can lose money from impermanent loss if the price of your deposited tokens changes sharply. You can also lose money if you stake in a low-liquidity pool and the token crashes. Always do your research before adding liquidity. Never invest more than you can afford to lose.

Do I need to pay gas fees on SushiSwap?

Yes. Every transaction on SushiSwap requires gas fees paid in the native token of the blockchain you’re using - ETH on Ethereum, MATIC on Polygon, SOL on Solana, etc. Gas fees vary by network congestion. Using Layer 2 chains like Arbitrum or Polygon can reduce fees by 90% compared to Ethereum mainnet.

What’s the current price of SUSHI?

As of January 2026, SUSHI trades around $0.74 with a market cap of $160 million. It hit an all-time high of $23.38 in March 2021 and a low of $0.45 in August 2024. Its price is highly volatile and tied to DeFi market cycles.

Is SushiSwap better than PancakeSwap?

It depends. PancakeSwap is better if you only trade on BNB Chain and want the highest yields. SushiSwap is better if you trade across multiple chains (Ethereum, Solana, Polygon, etc.) and want a more community-driven platform. PancakeSwap has higher volume, but SushiSwap has broader compatibility.

Next Steps

If you’re new to SushiSwap, start small. Swap $50 worth of ETH for USDC. See how it feels. Then try adding $100 to a liquidity pool and watch your rewards grow. Read the official help center - it’s got 147 articles and 32 videos. Join their Discord. Ask questions. DeFi isn’t magic - it’s just code. And SushiSwap makes that code feel human.

If you’re already deep in DeFi, use SushiSwap as your cross-chain hub. Connect your wallets on Solana, Arbitrum, and Base. Swap between them without bridging. You’ll save time, gas, and headaches. And if you care about governance, vote on the next proposal. You’re not just a user - you’re part of the protocol now.

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10 Comments

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    Mandy McDonald Hodge

    January 3, 2026 AT 05:03
    OMG this is exactly what I needed 😊 I just started with DeFi and was terrified of all the jargon-SushiSwap’s BentoBox and Kashi names actually made me feel like I wasn’t lost in a maze. Just swapped $20 of MATIC for SUSHI and got 18% APY on the pool. My first win in crypto that didn’t feel like gambling.
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    Adam Hull

    January 3, 2026 AT 09:39
    The premise here is laughably optimistic. SushiSwap’s $1.2B TVL is a rounding error next to Uniswap’s $7B. Calling it ‘cross-chain’ is misleading-it’s just a glorified aggregator with fragmented liquidity. Anyone using this for anything beyond meme tokens is either naive or overleveraged. The governance is a theater. Votes are bought by whales with 5% of the supply.
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    Elisabeth Rigo Andrews

    January 4, 2026 AT 18:36
    The AMM model is fundamentally broken when liquidity is spread thin across 40 chains. You think you’re saving gas by avoiding bridges, but you’re just paying in slippage and impermanent loss. I ran a backtest on Arbitrum-USDC/SUSHI over 90 days-42% of trades had >8% slippage. This isn’t innovation-it’s fragmentation dressed up as convenience.
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    Jordan Fowles

    January 6, 2026 AT 01:36
    There’s something poetic about how SushiSwap turned betrayal into a community-owned experiment. The fact that it survived Chef Nomi’s exit and became a governance testbed says more about crypto’s potential than any TVL metric. It’s not the best tool-but it’s one of the few that actually lets users decide its future. That’s rare.
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    Bruce Morrison

    January 6, 2026 AT 19:10
    If you're new to DeFi start with SushiSwap. The UI is the most approachable I've seen. No need to read whitepapers just to swap tokens. Just connect wallet pick pair click swap. Done. The themed names help reduce cognitive load. That's not gimmicky-it's thoughtful design.
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    Prateek Chitransh

    January 6, 2026 AT 19:20
    Ah yes the ‘beginner-friendly’ DEX that requires you to understand slippage tolerance, LP token staking, and impermanent loss before you can even click ‘swap’. If your definition of ‘friendly’ is putting a cartoon sushi roll on a nuclear control panel, then sure. I’ve seen toddlers use MetaMask more intuitively.
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    Mandy McDonald Hodge

    January 6, 2026 AT 23:08
    I know it sounds complex but once you do it once it clicks! I was scared too but I watched the 7-min video on their help page and now I’m earning more in SUSHI than my part-time job 😅
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    Andrew Prince

    January 8, 2026 AT 19:35
    The assertion that SushiSwap’s community governance is ‘meaningful’ is a dangerous fallacy. The multi-sig group, while ostensibly decentralized, remains opaque in its decision-making. Furthermore, the 15-25% voter turnout cited is statistically insignificant in a system with over 1.2 million unique wallet addresses interacting with the protocol. This is not democracy-it is oligarchy with a theme park aesthetic.
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    Raja Oleholeh

    January 10, 2026 AT 10:47
    USA crypto bros always overcomplicate things. SushiSwap? Just swap. Earn. Done. India users don’t need 40 chains. We use one chain. Fast. Cheap. No drama. 🚀
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    Amy Garrett

    January 11, 2026 AT 17:47
    just tried it and it worked!! i was so nervous but the interface was so cute and easy i think im gonna add more liquidity tomorrow 💕

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