Decentralized Finance (DeFi) firm Sushi is looking forward to the launch of its decentralized derivatives exchange dubbed Susa.

Susa Built on Layer N

Sushi revealed its plans to debut Susa on Layer N, making it the first rollup node to launch on Layer N. 

This Layer N is an Ethereum Layer-2 that has been attempting to bring to decentralized platforms and exchanges some aspects of centralization to bridge the gap in decentralized derivatives trading. In addition, the L2’s design will show a network of custom and optimized rollups.

Once launched, Susa Builders gets the opportunity to build custom applications on the decentralized exchange. Some of these customized applications are smart contract applications that embody full-fledged rollups. Susa will use Layer N’s Nord Engine to help the exchange process over 100,000 transactions per second with latency periods under 1 millisecond.

Ultimately, the aim is to compete closely with centralized exchange regarding performance. Sushi’s Head Chef, Jared Grey had a few words to say concerning the new product and what to expect from it.

“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,” Grey shared in the published statement.

He highlighted that Sushi’s “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 Entering a New Chapter

It is worth noting that Sushi has experienced visible growth in the last few years. From being one of the core pioneering DeFi protocols to its plans to launch a decentralized derivatives exchange, the firm has displayed resilience in the ecosystem and what it needs to chart a new course for the future. 

Sushi perceives the launch of Susa as a new chapter in its journey, per a remark from Dima Romanov, the CEO and co-founder of Layer N.

In reaction to the news of the upcoming Susa launch, SUSHI has printed a bullish run, despite the gradual slip-off in the price of other related altcoins. 

In the past 24 hours, the token has jumped by 1.34% and is currently trading at $1.18. Considering this level of traction, the price of SUSHI may improve further when the decentralized is finally launched as it will create another avenue for users to place fresh demands on SUSHI.

The post Sushi Floats Decentralized Derivatives Exchange Susa, Will SUSHI Soar? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am