Sushi to Sell Tokenized Sake on Initial Offering Launchpad

Sushi to Sell Tokenized Sake on Initial Offering Launchpad


Key Takeaways

Sushi has created a platform called MISO for new projects to list tokens on SushiSwap.
MISO is a suite of smart contracts that allows for the creation of tokens to be sold in crowdsale or auction formats.
The first sale on MISO will feature 888 tokenized bottles of sake listed in a Dutch auction format.

Share this article

Sushi is releasing a rare bottle of tokenized sake with an eye-watering price tag on its new launchpad. 

Sushi Launches New Launchpad 

Sushi has created a launchpad for new projects to sell their tokens. 

The Minimal Initial SushiSwap Offering, abbreviated to MISO, is a suite of smart contracts that will allow projects to launch ERC-20 tokens on the SushiSwap exchange. In addition to listing on the popular DEX, MISO projects will gain access to Onsen, Sushi’s popular liquidity mining rewards program. Tokens that can be created fall under three categories: fixed supply, mintable, and governance token. MISO will let projects choose between a crowdsale, Dutch auction, and batch auction to sell their tokens. 

The Sushi team is best known for creating SushiSwap, one of Ethereum’s most popular automated market makers. The decentralized exchange launched in chaotic fashion during the height of DeFi summer last year and has since become one of DeFi’s favorite platforms, holding about $4.65 billion in liquidity today. Sushi, whose team is mostly made up of a group of pseudonymous developers, has since expanded its offering, launching products like lending and margin trading and heading to other Layer 1 chains. 

The MISO platform will launch with the sale of SAK3, an ERC-20 token that can be redeemed for a physical bottle of sake. SAK3 is a rare style of sake called Junmai Daiginjo, which is reflected in the supply: only 888 will be available, with an initial 200 to launch on Ethereum. It will go on sale this Thursday in a Dutch auction format, with bidding starting at 88,000 SUSHI—the equivalent of around $1.73 million at today’s prices. Billed as the world’s first tokenized sake, the token is reminiscent of another that was released by SushiSwap’s biggest rival, Uniswap. The Ethereum-native exchange launched a pair of tokenized socks called SOCKS in 2019, sold on a bonding curve and limited to a supply of 500. One pair goes for $72,149 today. 

Disclosure: At the time of writing, the author of this feature had exposure to ETH, ETH2X-FLI, and several other cryptocurrencies. They also had exposure to UNI and SUSHI in a cryptocurrency index. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

SushiSwap Launches New Lending and Margin Trading Platform

SushiSwap will allow margin trading of some crypto trading pairs that are not available in the market due to lack of liquidity. The move has seen many mid-sized whales enter…

After Successful Launch, Solana DEX Raydium May Integrate SushiSwap

SushiSwap on Solana? Thanks to Raydium, it may happen soon.  Proposed SushiSwap Integration  Raydium, a new automated market maker (AMM) built on the Solana blockchain, may integrate SushiSwap.  A proposal…

What Are Non-Fungible Tokens (NFTs)?

Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are…

All You Need to Know About DeFi’s SushiSwap Saga (But Were Afrai…

The SushiSwap saga and its native token, SUSHI, will go down in crypto history.  What began as a tokenized version of Uniswap has spiraled into something much more. It reminds…


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *