Sushi Announces Launch of Susa, a Decentralized Derivatives Exchange on Layer N
Sushi is preparing to launch its new decentralized derivatives exchange, Susa, on the Layer N platform. This initiative aims to address current performance challenges in decentralized finance.
Susa and Layer N’s Nord Engine
Susa’s approach to enhancing decentralized trading hinges on the integration of Layer N’s Nord Engine, specifically designed to address scalability and speed issues commonly found in DeFi platforms. According to a recent blog post by Susa, the platform is intended to improve the efficiency and reliability of decentralized trading by leveraging Layer N’s technology. This collaboration seeks to narrow the performance gap between decentralized and centralized exchanges.
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 enables efficient cross-blockchain transactions with its Omnichain Smart Contracts, supporting a wide array of digital assets. The collaboration signifies a leap towards DeFi 3.0, offering a permissionless trading experience for native Bitcoin.
Introducing Sushi’s most exciting and ambitious project to date, @susa_ex – the most powerful perpetuals exchange in crypto. – Sushi.com (@SushiSwap) February 13, 2024
Susa’s Head Chef, Jared Grey, expressed excitement about the partnership with Layer N, stating, “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 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 plans to offer developers the ability to build everything from basic smart contracts to extensive rollups. It is 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 the decentralized space and build one of the largest ecosystems,” said Romanov.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
