Sushi Plans to Launch Susa Derivatives Exchange on Layer N Rachel
Sushi has announced plans to launch a derivatives exchange named Susa on Layer N, a blockchain set to deploy its mainnet this month.
Sushi revealed on the evening of February 13 that it will soon introduce a decentralized derivatives platform called Susa on Layer N, an Ethereum layer-2 solution designed to retain centralized aspects for DeFi platforms.
1/ Introducing Sushi's most exciting and ambitious project to date, @susa_ex — the most powerful perpetuals exchange in crypto.https://t.co/IGMDvhnX3U
— Sushi.com (@SushiSwap) February 13, 2024
The new platform is built on the Nord Engine infrastructure of Layer N, which processes thousands of transactions in under a millisecond, positioning itself as a competitor to existing centralized exchanges.
Additionally, Susa's developers will have the ability to customize the exchange, from smart contract applications to rollups.
CEO of Sushi, Jared Grey, stated:
"Layer N's modular approach provides capital efficiency and deeper liquidity while inheriting Ethereum's security features. Moreover, this mission aligns with the broader DeFi industry's goals. Therefore, Layer N is one of the best technology stacks available today."
Layer N is a network of rollup nodes, collectively known as Ethereum StateNet, which shares a communication and liquidity layer. Layer N is expected to launch its mainnet this month. In its latest test, the protocol managed to process 20,000 transactions per second, with a peak speed recorded at 120,000 TPS.
In September 2023, Layer N successfully raised $5 million in a Seed round led by Founder's Fund, the investment firm co-founded by former PayPal CEO Peter Thiel.
