Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
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SushiSwap

SushiSwap

Sushi DAO (struttura legale: fondazione DAO alle Cayman Islands + fondazione e società in Panama, approvata dalla DAO nel 2022-2023)

Status
DAO
Legal HQ
International
Founded
2020
Corporate site
sushi.com

SushiSwap is run by a DAO rather than a traditional single issuing company: SUSHI is a non-custodial decentralized protocol. In 2022-2023 the DAO approved a legal structure consisting of a Cayman Islands DAO foundation plus a foundation and a corporation in Panama to mitigate legal risk. Since June 2024 day-to-day operations are coordinated by Sushi Labs through a council structure. The SUSHI token is not equity and SushiSwap is not publicly listed.
3.3/5 3.4/5 · Data verified on

SushiSwap is a non-custodial DEX live since 2020, present on over 30 chains and with lending via Kashi. It is, however, weighed down by a sharply declining TVL, recurring governance issues and high team turnover.

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31
Transparency: Very low
31/100 · see methodology
31
Data exposure: Minimal
31/100 · lower is better for sovereignty · methodology

Data & conditions

Liquidity model AMM
Maker / Taker fee 0.3% / 0.3%
Markets Spot
Supported chains Ethereum, Arbitrum, Polygon, BSC, Avalanche
TVL (as of Jun 13) $300M
24h volume $10.71M
Native token SUSHI
Fund custody Non-custodial (funds in your wallet)
Supported wallets MetaMask, WalletConnect, Coinbase Wallet, Trust Wallet
Audits PeckShield (audit smart-contract core e BentoBox, 2020-2021), Quantstamp (security review), CertiK, Zellic, Halborn, Certora (formal verification ongoing)
Governance SUSHI token + Sushi DAO (Snapshot/Sushipowah). Since June 2024: Sushi Labs council structure (High Kitchen, Treasury Council, Grants Council, Ambassador Council) handles day-to-day operations; DAO retains oversight via multisig and governance votes. xSUSHI stakers earn 0.05% of swap fees.
KYC Full
Supported countries US, EEA, APAC, LATAM, MENA, AFRICA · 200+ countries
Regulator None
Segment B2C
MiCA / License status None (decentralized protocol)

Strengths

  • 30+ chain supported; track record from 2020; lending Kashi.
  • Self-custody: funds stay in your wallet — the platform cannot touch them.
  • Permissionless and decentralized: no approval needed to operate.
  • Public security audits.

Weaknesses

  • TVL in forte declino; governance issues ricorrenti; team instabile.
  • Full KYC required: verified identity, zero pseudonymity.

Verdict

C B ★ 3.3/5 ★ 3.4/5

For the average user the low grade is consistent: beyond the lack of regulator and guarantees typical of a DEX, a sharply declining TVL, recurring governance issues and high team turnover weigh in as signs of instability that undermine long-term trust. With self-held keys and 0.3% fees, it offers little protection margin and growing management doubts.

From a crypto-native angle SushiSwap retains strengths: a non-custodial AMM live since 2020 across over 30 chains, with lending via Kashi, on-chain settlement, no KYC and fund control left to the user. Its multi-chain reach and track record remain valuable; what lowers its grade versus peers is the declining TVL and the governance and team instability, which cast doubt on the protocol's durability.

Privacy & anonymity 30% 2.3
Fund control 20% 5.0
Censorship resistance 20% 3.3
Trustless / auditability 20% 4.2
Costs 10% 2.0

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

Is SushiSwap truly decentralized?

SushiSwap is a non-custodial decentralized exchange: funds stay in your wallet. Liquidity model: AMM. Governance token: SUSHI.

Which blockchains does SushiSwap support?

SushiSwap is available on Ethereum, Arbitrum, Polygon, BSC and Avalanche.

What is SushiSwap's TVL?

SushiSwap's Total Value Locked is about $300M (snapshot 2026-06-13). The figure is dynamic: check the live value on DefiLlama.

What are SushiSwap's fees?

SushiSwap's trading fees range 0.3%. On top of these there are on-chain gas fees, which vary with network congestion.

Does SushiSwap support perpetuals and leverage?

SushiSwap does not offer perpetuals. It supports spot token swaps.

Sources

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Update history

✓ Terms unchanged since Jun 1, 2026

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