Sushi’s Decentralized Derivatives Exchange Susa to Launch on Layer N

DeFi Derivatives DEX

Author

Hongji Feng

Author

Hongji Feng

About Author

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Author Profile

Share

Copied

Last updated:

February 14, 2024 04:10 EST

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

Sushi is preparing to launch its new decentralized derivatives exchange Susa on the Layer N platform. This initiative plans to address current performance challenges in decentralized finance.

According to a recent blog post by Susa, the platform intended to improve the efficiency and reliability of decentralized trading by leveraging Layer N’s technology. This collaboration sought to narrow the performance gap between decentralized and centralized exchanges.

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

Susa and Layer N’s Nord Engine

Susa’s approach to enhancing decentralized trading hinged on the integration of Layer N’s Nord Engine, which was specifically designed to address the scalability and speed issues commonly found in DeFi platforms.

“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,” said Sushi’s Head Chef Jared Grey.

“Layer N’s modular approach to rollups unlocks greater capital efficiency and deeper liquidity, all while leveraging the security of Ethereum,” said Grey. “With perpetual DEXs comprising a small share of the market, introducing Susa highlights our drive for innovation.”

Utilizing the StateNet architecture from Layer N, Susa planned to offer developers the ability to build everything from basic smart contracts to extensive rollups. It was designed to cultivate a dynamic ecosystem surrounding Susa.

“Sushi has been one of the core DeFi protocols for years, and we are thrilled to support them in their next chapter,” said Layer N co-founder and CEO Dima Romanov. “We are excited to see Susa be one of the first rollup nodes to launch on Layer N.”

“Susa is poised to become one of the largest perpetual exchanges in decentralized space and build one of the largest ecosystems,” said Romanov.

Sushi and ZetaChain Introduced Native Bitcoin Trading

In November 2023, Sushi partnered with ZetaChain to introduce native Bitcoin trading, allowing seamless Bitcoin swaps across 30 networks without traditional wrapping into ERC-20 tokens.

ZetaChain’s layer 1 blockchain enabled the efficient cross-blockchain transactions with its Omnichain Smart Contracts, supporting a wide array of digital assets. The collaboration signified a leap towards DeFi 3.0, offering a permissionless trading experience for native Bitcoin.