Sushi Labs Announces Acquisition of Clipper & Shipyard Software

For Clipper’s users, this means big things ahead: more liquidity, more integrations, more visibility, and more…more!

Sushi Labs Announces Acquisition of Clipper & Shipyard Software

It’s not every day that 1 + 1 = 3, but today is one of those days.

The AdmiralDAO community has developed Clipper into an amazing product. On similar pools, Clipper produces better yields than Uniswap, has solved impermanent loss, and has established itself as a trusted tool among knowledgeable LPs and LVR-averse traders. Because of its better yields, Clipper offers better prices, which in turn win trades through DEX Aggregators like 1inch and UniswapX. By now, almost everyone in DeFi has swapped with Clipper through a DEX aggregator.

Yet, for all of its traction and breakthrough technologies, Clipper as a standalone DEX remains niche - if well-loved. Some reasons for this are simple - DEX aggregators don’t usually   publicize Clipper’s role completing trades on their platform. Additionally, DeFi projects typically acquire new users using token rewards. SAIL has not reached an inflection point that would draw in many new users, all in spite of Clipper’s outperformance. But Clipper has enormous potential. With 10x more liquidity, Clipper’s blue chip pools could rival Uniswap’s. Over 50% of Uniswap’s volume is just its ETH-USD pool. Clipper’s ETH-USD pool could theoretically flip Uniswap. That's a big deal!

Which is why we are excited to announce that Sushi Labs is acquiring Clipper! Both teams believe that Clipper can provide an innovative edge to Sushi, and Sushi’s scale can take Clipper to the next level. This is a case of 1+1 = 3.

As many may recall, Sushi exploded onto the DeFi scene in DeFi Summer 2020 by vampire attacking Uniswap, distributing its token in a fair launch, and forcing Uniswap to launch its token. By integrating Clipper’s blue-chip pools into its core offering and incorporating Shipyard Software into Sushi Labs, Sushi plans to lead the way into the future of DeFi.

For Clipper’s users, this means big things ahead: more liquidity, more integrations, more visibility, and more…more!

In addition to integrating Clipper, Sushi has an aggressive, forward-thinking roadmap. It will soon launch Susa, a fully on-chain order book perps DEX powered by Layer N, and several Franchise DEXs on various other chains. Read more here and here.

For SAIL token holders, your rewards will vest over the next two years as planned—there will be no change in timeline. As the Sushi community receives airdrops from Susa and Sushi’s other new DEXs, the pre-transaction snapshot of veSAIL holders will as well. 

Here are three things for SAIL holders to consider:

  1. A snapshot of existing veSAIL stakers was taken on January 27, 2025.
  2. The relative value of veSAIL vs xSUSHI has been fixed, with SAIL valued at a premium of 266% to the prior day’s SAIL price (January 26, 2025).
  3. Future Sushi DEX tokens will be airdropped to snapshotted veSAIL holders whenever they are airdropped to xSUSHI holders, based on the fixed relative value.

In other words, get excited about Susa and Sushi’s other forthcoming DEXs and get ready to rumble!

The Clipper community has already journeyed through the seven seas of DeFi. The time has come to disembark our vessels and join the lands of our DeFi brethren to conquer together!

Note: SAIL was distributed in a free airdrop. The liquidity mining incentives included in that airdrop were awarded to institutions and the public on the same terms. There was no ICO. Neither Shipyard Software nor its founders have ever sold a token privately or publicly.