Sushi quietly shipped 5 new products in 12 months. the architecture is more interesting than the token chart suggests.

Sushi protocol has evolved from a Uniswap fork to a multi-product DeFi ecosystem with specialized DEX offerings like RP7, SushiXSwap, Susa, and Blade. Despite challenges like governance debt and a $50M slippage incident, it achieved $20B+ cumulative volume in 2025, positioning itself as a cross-chain competitor to 1inch and Uniswap.