Some brothers also asked me how to view $SUSHI , my suggestion is not as good as $UNI
SUSHI is just Uniswap's little brother, the main character is always Uni, Sushi can only follow.
Let's start with some background. Uniswap is the leader in the entire DEX field, relying on the constant product AMM model + a design that does not require an order book, directly overturning the model of centralized exchanges. Liquidity pools, zero rent extraction, censorship resistance, UNI governance token... a complete set of gameplay was pioneered by it. Later upgrades like V2 and V3, whether it’s fee extraction or concentrated liquidity, are real innovations.
And what about Sushi? It started with a “vampire attack” - luring liquidity from Uni to itself with high APY mining temptations. At that time, it did indeed gain some traction, but what happened afterwards? The entire narrative and ecosystem basically followed Uniswap's path. In other words, Uni eats meat, Sushi drinks soup; Uni has heat, Sushi can rise; if Uni cools down, Sushi can't hold up at all.
Now let's talk about the fundamentals:
Sushi also has its own token SUSHI, used for governance + dividends, but the governance weight and market recognition cannot be compared with UNI at all.
Sushi has some small innovations at the product level, like BentoBox, Kashi, and these modular lending and yield features, but ultimately, its liquidity and trading volume are far surpassed by Uni.
From the data, the head effect in DEX is extremely strong; where traders are accustomed to going, liquidity will follow. It is very difficult for Sushi to run independently; its trend is basically just a beta version of Uni.
So my conclusion is very straightforward:
Sushi has no independent soul, it is just a follower of Uni.
When the market comes, Uni rises, and it naturally rises with it; when the market leaves, Uni falls, and it drops faster than anyone else.
If it weren't for the previous main force pushing its trend, Sushi's performance would be even worse. Currently, Sushi has only risen about 40 points from the bottom, while Uni has more than doubled from its bottom. In such a comparison, you should know which one to choose!