• SushiSwap announced plans to improve the ecosystem by supporting independent NFT collections, launching DEX aggregators, and launching a new NFT marketplace.
• There has been a decrease in the number of users as well as the amount of transactions on the protocol.
• This has led to a decrease in the revenue generated by SushiSwap by 30.19%.

SushiSwap, a decentralized exchange (DEX) protocol, recently announced a series of updates and a new roadmap for the future. The protocol is looking to improve its ecosystem by supporting independent NFT collections, launching DEX aggregators, and launching a new NFT marketplace. These developments are aimed at boosting the user experience and increasing the market share of SushiSwap in the DEX space.

Unfortunately, despite the updates and new roadmap, SushiSwap has been facing a decline in the number of users and transactions on its protocol. According to Dune Analytics, the number of users on SushiSwap has declined from 30,124 three months ago to 12,184 at press time. This has had a direct effect on the exchange’s ability to generate revenue, as data provided by Messari shows that the revenue generated by SushiSwap decreased by 30.19% and stood at $2.04 million at press time.

In order to address these issues, SushiSwap has been focusing on improving its user experience and boosting its market share in the DEX space. To this end, the protocol will be launching DEX aggregators in Q1 of 2023. These aggregators are designed to provide users with a single interface for accessing multiple DEXs and finding the best prices for their trades. Furthermore, SushiSwap is also looking to capitalize on the growing popularity of NFTs by launching a new NFT marketplace in the upcoming months.

Despite the declining numbers, holders of SUSHI tokens remain supportive of the project. The updates and new roadmap could potentially help the current state of the protocol and reignite interest in SushiSwap. It remains to be seen how the protocol will fare in the future, but it is clear that the team is committed to making SushiSwap a success.