{"id":28448,"date":"2020-09-10T11:23:56","date_gmt":"2020-09-10T08:23:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28448"},"modified":"2025-08-27T11:42:37","modified_gmt":"2025-08-27T08:42:37","slug":"uniswap-loses-70-of-liquidity-due-to-asset-migration-to-the-sushiswap-fork","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uniswap-loses-70-of-liquidity-due-to-asset-migration-to-the-sushiswap-fork\/","title":{"rendered":"Uniswap loses 70% of liquidity due to asset migration to the SushiSwap fork"},"content":{"rendered":"<p>Leading decentralized exchange Uniswap has lost more than 70% of its liquidity as a result of its migration to the SushiSwap fork.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">After 48 hours 70% of <a href=\"https:\/\/twitter.com\/UniswapProtocol?ref_src=twsrc%5Etfw\">@UniswapProtocol<\/a>\u2018s $2B liquidity has migrated to <a href=\"https:\/\/twitter.com\/SushiSwap?ref_src=twsrc%5Etfw\">@SushiSwap<\/a>. \ud83e\udd84\ud83d\udd01\ud83c\udf63 <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SUSHI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SUSHI<\/a> <a href=\"https:\/\/t.co\/DZOmMt9RS7\">pic.twitter.com\/DZOmMt9RS7<\/a><\/p>\n<p>\u2014 Alex Saunders \ud83c\udde6\ud83c\uddfa\ud83d\udc68\u200d\ud83d\udd2c (@AlexSaundersAU) <a href=\"https:\/\/twitter.com\/AlexSaundersAU\/status\/1303912107520344064?ref_src=twsrc%5Etfw\">September 10, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/defipulse.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">DeFi Pulse<\/a>, the amount of assets locked in Uniswap over the last 24 hours collapsed by 75.8% to $348 million. The recent leader in this metric among DeFi projects, which <a href=\"https:\/\/u1f987.com\/en\/news\/uniswap-leads-defi-as-sushiswap-hype-fuels-rally\">rose<\/a> to the first place largely thanks to the hype around SushiSwap, was ninth in the ranking at the time of writing.<\/p>\n<div id=\"attachment_109730\" style=\"width: 830px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-109730\" class=\"wp-image-109730 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-17.jpg\" alt=\"Uniswap \u043f\u043e\u0442\u0435\u0440\u044f\u043b\u0430 70% \u043b\u0438\u043a\u0432\u0438\u0434\u043d\u043e\u0441\u0442\u0438 \u0438\u0437-\u0437\u0430 \u043c\u0438\u0433\u0440\u0430\u0446\u0438\u0438 \u0430\u043a\u0442\u0438\u0432\u043e\u0432 \u0432 SushiSwap\" width=\"820\" height=\"242\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-17.jpg 820w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-17-300x89.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-17-768x227.jpg 768w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/p>\n<p id=\"caption-attachment-109730\" class=\"wp-caption-text\">Source: DeFi Pulse.<\/p>\n<\/div>\n<p>The fork of Uniswap says that the liquidity volume in the protocol over two days after the migration began reached $1.35 billion.<\/p>\n<div id=\"attachment_109729\" style=\"width: 830px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-109729\" class=\"wp-image-109729 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-2-5.jpg\" alt=\"Uniswap \u043f\u043e\u0442\u0435\u0440\u044f\u043b\u0430 70% \u043b\u0438\u043a\u0432\u0438\u0434\u043d\u043e\u0441\u0442\u0438 \u0438\u0437-\u0437\u0430 \u043c\u0438\u0433\u0440\u0430\u0446\u0438\u0438 \u0430\u043a\u0442\u0438\u0432\u043e\u0432 \u0432 SushiSwap\" width=\"820\" height=\"202\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-2-5.jpg 820w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-2-5-300x74.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-2-5-768x189.jpg 768w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/p>\n<p id=\"caption-attachment-109729\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/sushiswap.vision\/home\" target=\"_blank\" rel=\"noopener noreferrer\">sushiswap.vision<\/a>.<\/p>\n<\/div>\n<p>Around half of the asset volume on SushiSwap is denominated in Ethereum and the stablecoins USDT and USDC.<\/p>\n<div id=\"attachment_109728\" style=\"width: 830px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-109728\" class=\"wp-image-109728 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-3-1.jpg\" alt=\"Uniswap \u043f\u043e\u0442\u0435\u0440\u044f\u043b\u0430 70% \u043b\u0438\u043a\u0432\u0438\u0434\u043d\u043e\u0441\u0442\u0438 \u0438\u0437-\u0437\u0430 \u043c\u0438\u0433\u0440\u0430\u0446\u0438\u0438 \u0430\u043a\u0442\u0438\u0432\u043e\u0432 \u0432 SushiSwap\" width=\"820\" height=\"182\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-3-1.jpg 820w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-3-1-300x67.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-3-1-768x170.jpg 768w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/p>\n<p id=\"caption-attachment-109728\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/sushiswap.vision\/home\" target=\"_blank\" rel=\"noopener noreferrer\">sushiswap.vision<\/a>.<\/p>\n<\/div>\n<p>The fork creators initially expected migration of liquidity providers to pools on Uniswap. SushiSwap incentivises them by distributing governance tokens SUSHI.<\/p>\n<p>In the first phase, the fork allowed existing Uniswap liquidity tokens to be deposited into the protocol to earn yield. In the second phase, funds began migrating to pools on SushiSwap.<\/p>\n<p>As Adam Cochran, a partner at Cinneamhain Ventures, said, the CRV pool was the first to migrate successfully.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">The first <a href=\"https:\/\/twitter.com\/search?q=%24SUSHI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SUSHI<\/a> <a href=\"https:\/\/twitter.com\/SushiSwap?ref_src=twsrc%5Etfw\">@SushiSwap<\/a> pool migration ($CRV) was successfully migrated: <a href=\"https:\/\/t.co\/3ITRFzQ1Is\">https:\/\/t.co\/3ITRFzQ1Is<\/a><\/p>\n<p>\u2014 Adam Cochran (@AdamScochran) <a href=\"https:\/\/twitter.com\/AdamScochran\/status\/1303726999601635333?ref_src=twsrc%5Etfw\">September 9, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, the protocol administrator under the nickname \u201cChef Nomi\u201d <a href=\"https:\/\/u1f987.com\/en\/news\/sushiswap-administrator-triggers-50-drop-in-token-price\">crashed<\/a> the price of SUSHI, selling half of the developers\u2019 fund amounting to $27 million in protocol tokens. Users suspected an exit scam.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/sushiswap-administrator-hands-platform-control-to-ftx-founder\">Transferred<\/a> control of the platform to its founder and CEO of the exchange FTX, Sam Bankman-Fried, whose team carried out the migration.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading decentralized exchange Uniswap has lost more than 70% of its liquidity as a result of its migration to the SushiSwap fork.<\/p>\n","protected":false},"author":1,"featured_media":28449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1379,1391],"class_list":["post-28448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-sushiswap","tag-uniswap-uni"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28448"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28448\/revisions"}],"predecessor-version":[{"id":28450,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28448\/revisions\/28450"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/28449"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}