Sushi, the multi-chain decentralized exchange (dex), plans to launch a new high-speed derivatives exchange called Susa using Layer N’s scaling technology, Sushi revealed on Tuesday. The partnership aims to rival centralized exchanges by processing over 100,000 transactions per second with milliseconds of latency.
Susa’s Debut on Layer N Promises New Era for Dex Platforms
Sushi is expanding its horizon with the launch of Susa, a new derivatives exchange. The strategic move is facilitated through a partnership with Layer N, leveraging the latter’s layer two (L2) technology to enhance decentralized finance (defi) trading experiences with unprecedented speed and features.
Susa plans to utilize Layer N’s Nord Engine, enabling the platform to process transactions at a speed of over 100,000 transactions per second with latency under one millisecond. Sushi believes this capability positions Susa to compete directly with centralized exchanges, marking a significant advancement in the performance and efficiency of decentralized trading platforms.
“Layer N’s modular approach to rollups unlocks greater capital efficiency and deeper liquidity, all while leveraging the security of Ethereum,” Jared Grey, Sushi’s Head Chef said in a statement. “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.”
Sushi’s announcement highlights that the collaboration with Layer N’s Statenet framework empowers Susa to encompass an extensive array of trading possibilities, such as perpetuals, spots, and exotic markets, while also granting developers the liberty to craft bespoke applications. Both teams anticipate that Susa’s debut as a Rollup Node on Layer N’s Statenet will pioneer new benchmarks for dex platforms.
The debut of Susa as a Rollup Node on Layer N’s Statenet is expected to take place in testnet form during the year’s first half. Decentralized derivatives have risen in popularity within the defi sector over the past few years, with protocols such as GMX, Jupiter, Synthetix, Dydx, and Lyra. According to Defillama.com, there are 217 defi-focused derivatives protocols, with a total of $2.209 billion in value locked in these platforms.
Source : Bitcoin.com / Feb 14, 2024