SushiSwap on Arbitrum Nova - Exchange Review

SushiSwap on Arbitrum Nova is a decentralized AMM exchange built to operate within the Nova layer-2 network, offering spot token swaps, liquidity pools and governance via SUSHI, all optimized for low fees and fast settlement.

Activity snapshot

Recent 24-hour trading volume is extremely low - around 6,900 USD, down more than 80 percent in the past day. Only six coins and trading pairs are active on the platform, with MOON/WETH accounting for most of the trades, roughly 5,000 USD. Total value locked for Sushi pools on Nova is close to 400,000 USD, while monthly volume barely exceeds 410,000 USD. Liquidity exists, but user activity is minimal.

How the platform works

Users can swap tokens within Arbitrum Nova, provide liquidity to pools and earn protocol fees, and participate in governance through SUSHI. However, trading pairs are few and liquidity depth is limited.

User interface and chain integration

The interface is available via the SushiSwap app when connected to Nova. Navigation is simple, but live data on order depth and trading flows is sparse. Analytics tools exist, yet they do not fully reveal how active users really are.

Token dynamics and liquidity

Liquidity remains thin in most pools. For example, the ARB/WETH pool saw only around 220 USD in trades and under 120 transactions in a day, with liquidity of roughly 3,200 USD. Overall activity indicates that interest is low, with daily trading staying in the low thousands and TVL under half a million.

Strengths in design

• The first AMM platform on Nova gives it a head start if user adoption grows.
• Cross-chain architecture benefits from Nova’s cheap and fast transactions.
• Governance and staking through SUSHI are theoretically available, even if not widely used.

Limitations today

• Very low trading volume - under 7,000 USD daily, mostly from one pair.
• Low liquidity - TVL below 0.5 million USD limits trading of any significant size.
• Few supported tokens and pairs, which restricts user choice.
• Incentives underused - staking and governance activity remain almost invisible.
• Lack of updates - roadmap and engagement details are hard to find.

Target audience (for now)

Currently SushiSwap on Nova may appeal to:

• Early Nova users experimenting with low-cost swaps.
• Developers interested in Nova’s AMM potential.
• Users exploring protocol mechanics rather than high-volume trading.

Final perspective

SushiSwap on Arbitrum Nova is still a lightly used DEX with thin liquidity. While it benefits from Nova’s low fees and offers a basic AMM structure, actual trading activity is minimal. Without stronger liquidity, broader token support and active incentives, it remains an experimental project. For now, it is worth watching rather than actively using.