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SUSHI is the native token of the Sushi platform and can be earned in several ways: through lending, staking and yield farming.
Lending your SUSHI
The easiest way to earn yield on your SUSHI in Australia is through an exchange or digital asset lending platform such as Binance Cryptocurrency Exchange, Gemini Cryptocurrency Exchange and Gate.io Cryptocurrency Exchange .
The highest return currently available on SUSHI from the products we compared is 13.9% through Binance Cryptocurrency Exchange with a lock-up period of 90 days.
Use the table to compare rates on SUSHI and use our calculator to forecast how much you could earn.
Staking your SUSHI
Alternatively, you can stake SUSHI on the Sushi platform in return for DeFi staking rewards. This method requires using a web 3.0 wallet on a blockchain like ethereum which is why we have put together a visual step-by-step explainer to help guide you through the process.
You can use our table to compare rates on SUSHI or skip to the staking section for a step-by-step guide on how to stake your tokens on the Sushi platform with a wallet.
|Go to site|
|Binance Cryptocurrency Exchange||5%||1.8%||Flexible||Variable||Earn now|
|Binance Cryptocurrency Exchange||6.7%||6.7%||15-days||Fixed||Earn now|
|Binance Cryptocurrency Exchange||9.5%||9.5%||1-month||Fixed||Earn now|
|Binance Cryptocurrency Exchange||13.9%||13.9%||3-month||Fixed||Earn now|
|Gate.io Cryptocurrency Exchange||0.18%||0.8%||7-days||Variable||Earn now|
|Gemini Cryptocurrency Exchange||2.5%||2.4%||Varies||Variable||Earn now|
The instructions below are for earning yield on Sushi using a cryptocurrency exchange for lending:
To get started, ensure you have SUSHI tokens available on either an exchange or inside a personal crypto wallet. You can purchase SUSHI from most cryptocurrency trading platforms, including Binance and Coinbase.
Next, you will need to set up a Web3 compatible crypto wallet that is supported by the SushiSwap ecosystem. A common choice is MetaMask. A Web3 crypto wallet will act as a bridge between your cryptocurrency tokens and the SushiSwap application.
Next, transfer SUSHI tokens to your Web3 crypto wallet address. Your Web3 wallet address can usually be copied and pasted from the wallet's extension window. In the case of MetaMask, it is accessible directly below your wallet account name.
Notes: ensure you are transferring SUSHI tokens via the Ethereum network. You will also need to have a little bit of ETH in your wallet to pay for gas fees.
Once you have transferred SUSHI tokens across to your Web3 wallet, connect your wallet to Sushiswap's staking page. Follow the pop-up prompts from your wallet's browser extension.
Finally, head over to the staking page of the SushiSwap application. This can be found by clicking 'Explore' in the menu tabs, followed by 'xSUSHI'.
Within the staking window, input the number of SUSHI you wish to stake. Select approve and verify the transaction via your Web3 crypto wallet. Once the transaction has been confirmed you will begin passively earning rewards for staking your SUSHI tokens.
You can unstake at any time by heading back to the same page of the SushiSwap application and clicking the 'Unstake' tab.
Staking via SushiSwap comes with an extremely volatile rewards rate. Over the course of a one-month period, the APY can range from sub-10% up to over 45%.
The volatile APY rate is because SushiSwap's staking mechanism is based on the platform's daily transaction volume. 0.05% of the day's total trading volume (a portion of the collected fees) is redistributed to those staking SUSHI. Rewards are distributed as xSUSHI tokens.
Staking on the SushiSwap DEX comes with a process called 'rewards vesting'. This basically means that two-thirds of the total rewards you've earned by staking cannot be accessed for at least 6 months after they've been attributed to your account. One-third of your rewards can be harvested immediately.
It's worth noting this does not affect your initial staking deposit. This can be unstaked and withdrawn at any time.
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