A group of developers supporting the popular SushiSwap protocol have created new smart contracts for a new NFT marketplace called Shoyu.
The platform will benefit xSushi holders and optimize their gas fee for NFT transactions.
Developers Plan Shoyu Launch
Sushi has started preparations for a new NFT Marketplace called Shoyu.
LevX, the lead developer behind the project, posted an update about the platform on Sushi’s forum on Wednesday. The team noted that the design of the protocol has been completed, but there is still a lot of work to be done on infrastructure-related issues. LevX also shared the details of various features, fee structure and the solution developed for the Ethereum (ETH) issue.
Contracts are not currently audited. However, the team planned to run security checks from Peckshield, Mixbytes, and Zokyo. Other than LevX, other contributors to the code are Future Fund, Ayoki, Evan Keast, Zach Noble, and Omakase Bar.
The proposal for the NFT platform was first raised in March. The community voted on the name “Shoyu”, which means soy sauce in Japanese.
Shoyu plans to launch a digital collectibles marketplace and a 3D metaverse similar to games like Axie Infinity and Decentraland.
The platform will support NFTs from Ethereum and other blockchains in a Solidity-based multi-chain ecosystem. It will also allow SUSHI holders to earn some of the fees that the protocol generates. According to the plans posted on the Sushi forum, 2.5% of every transaction will go to xSUSHI holders.
Shoyu is scheduled to launch in mid-August. Further updates are also planned for November 2021 and January 2022. The team is working on “Japanese sensibility and aesthetics” for the interface.
Shoyu’s contracts will come with a built-in exchange function to optimize gas fees. By taking an off-chain approach, the number of on-chain offers for NFTs on Ethereum will be reduced.