Sushi to Launch Decentralized Derivatives Exchange on Layer N

• Susa developers would be able to develop bespoke applications on top of the exchange.
• Later this month, Layer N’s mainnet is anticipated to go live.

Sushi, a decentralized finance (DeFi) firm, plans to introduce Susa, a decentralized derivatives platform on Layer N, an Ethereum Layer 2, in an effort to mimic certain features of centralization for decentralized platforms.

According to Jared Grey, head chef at Sushi:

“Sushi is excited to partner with Layer N, as we fully embrace the spirit of decentralized finance by combining our expertise to develop superior products.”

Modular Network Strategy

An announcement said that Susa developers would have the ability to develop bespoke applications on top of the exchange, ranging from smart contract apps to fully functional rollups. With the help of Layer N’s Nord Engine, it will be able to process thousands of transactions in less than one millisecond, giving it the performance capabilities of centralized exchanges.

He added:

“Layer N’s modular approach to rollups unlocks greater capital efficiency and deeper liquidity, all 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.”

Known as “Ethereum StateNet,” Layer N is a network of rollup nodes that share a communication and liquidity layer. Later this month, Layer N’s mainnet is anticipated to go live. During testing, the platform was able to process 20,000 TPS, with a maximum of 120,000 TPS.

Earlier, Layer N secured $5 million in seed funding in September 2023 from Founder’s Fund, a venture capital company established by Peter Thiel, the former CEO of PayPal.

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