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SushiSwap, a decentralized exchange, announced plans to launch Susa, a new derivatives exchange built on Layer N, an Ethereum (ETH) scaling solution.
According to the official statement, this move aims to fill the gap in decentralized derivatives trading by combining Layer N's technological advances with the established DeFi community behind SushiSwap.
According to plans, Susa will use Layer N's Nord Engine, enabling the exchange to process more than 100,000 transactions per second with latencies of less than 1 millisecond.
Jared Gray, Executive Chef (CEO) of SushiSwap, expressed his excitement about the partnership with Layer N, saying:
“Sushi is excited to partner with Layer N as we fully embrace the spirit of decentralized finance (DeFi) by combining our expertise to develop superior products. Layer N's modular approach to rollups enables greater capital efficiency and deeper liquidity while leveraging the security of Ethereum.” “This approach aligns perfectly with the modular network strategy gaining traction in the DeFi space, making Layer N one of the best technology stacks to build on.”
Gray also highlighted the potential of the largely untapped perpetual trading market and expressed that he expects to introduce Susa to Sushi users and the DeFi community.
Layer N CEO and Co-Founder Dima Romanov also commented on the partnership. Romanov said:
“We are happy to see Susa become one of the first rollup nodes to go live on Layer N. “Susa is poised to become one of the largest perpetual exchanges in the decentralized space and create one of the largest ecosystems.”
*This is not investment advice.