Sushi Token (Ethereum)


SUSHI is the governance and revenue-sharing token for the Sushi ecosystem of products.

Risk Rating
What we like
SUSHI accrues value from trades on its decentralized exchange. It is also used as the governance token for holders to vote on community proposals.
What we like less
SUSHI price has lost significant value since late 2021 given turnvoer within the core team and the platform's lack of a core focus.
What it means for you
Staking SUSHI (xSUSHI) enables you to earn 0.05% of all trading fees generated by the decentralized exchange platform.
  • Ethereum
Key Metrics
  • Market Cap: $164.7M
  • Fully Diluted Valluation: $213.6M
  • FDV / MC: 1.3
  • Ranking inside Exponential (excluding stables): #45
  • Circulating Supply: 192,789,256
  • Total Supply: 248,945,867
  • Total Supply: 250,000,000
  • Volume (24H): $13.5M
  • ATH: $23.38 (03/13/2021)
  • ATL: $0.48 (11/04/2020)
Risk Assessment
Asset Strength

SUSHI is a low-cap asset that represents the protocol's native governance or utility token. This asset is exposed to the underlying risks of Sushi, a protocol rated as Moderately Risky. The asset has a fixed supply.

Asset Volatility

SUSHI is highly correlated to the overall market.



Things to know about SUSHI

What is SUSHI used for?

SUSHI is the governance and revenue-sharing token for the Sushi ecosystem. Stakers (xSUSHI) receive a portion of all exchange swap fees. Token holders can also partake in the protocol's governance process to vote on proposals and protocol-level changes.

SUSHI tokenomics

SUSHI initially launched with an inifinite supply. A subsequent governance proposal implemented a supply cap of 250M tokens, which is expected to be reach in November 2023. The token distribution follows a decaying emission model based on a set schedule until the supply cap is reached. Currently, ~6 SUSHI are minted per Ethereum block. The protocol allocates 10% of all protocol emissions to a multisig development fund.

How does SUSHI accrue value?

SUSHI collects a portion of all trading fees and distributes to xSUSHI stakers. The protocol deducts a 0.05% fee from every swap and allocates it to the xSUSHI pool. The amount of SUSHI relative to xSUSHI will decrease as xSUSHI appreciates in value over time.