Sushi Announces BentoBox Dapp Token Vault

By May 3, 2021DApps
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According to a SushiSwap blog post published on 3 May, BentoBox is a token vault that can support a collection of decentralized applications, provide lower network wallet fees, and automatically generate yields for depositors.

Strategies applied to BentoBox will generate yields automatically, the platform explained. Currently, the strategy applied to the BentoBox vault is the Sushi strategy, which takes advantage of all the yield-generating tools on the Sushi platform.

The BentoBox platform also launched its first lending product called Kashi — a single-asset lending protocol that enables users to earn interest by lending $SUSHI. Those holding $xSUSHI will be able to earn returns generated from transaction fees on BentoBox without unstaking their tokens.

“The innovation of the BentoBox lies in its effortlessly scalable design,” the company said in the announcement. “Unlike other protocols, it creates a primary source of liquidity that any user can access with minimal approvals, minimal gas usage, and maximal capital efficiency.”

The team behind SushiSwap created BentoBox specifically to give developers a new yield generating platform. They can use BentoBox to build Dapps without having to implement their own gas optimization strategies. BentoBox’s design will allow projects who integrate with it to become interconnected by providing synergies between protocols.

Users only need to approve the BentoBox access to their wallet’s tokens one time and deposit them into their vaults. From there, the deposited assets can be used in any other Dapp within BentoBox forever.

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