Decentralized Finance (DeFi) company Sushi eagerly anticipates the unveiling of its decentralized derivatives exchange named Susa.
SushiSwap: Susa is Built on Layer N
Sushi disclosed its intentions to introduce Susa on Layer N, establishing it as the primary rollup node to go live on Layer N. However, this Layer N serves as an Ethereum Layer-2 that has been striving to introduce certain elements of centralization to decentralized platforms and exchanges, aiming to bridge gaps in decentralized derivatives trading. Additionally, the L2’s blueprint will exhibit a network of bespoke and optimized rollups.
Upon launch, Susa Builders gain the opportunity to create bespoke applications on the decentralized exchange. On the other hand, some of these tailor-made applications are smart contract applications embodying comprehensive rollups. However, Susa will leverage Layer N’s Nord Engine to facilitate processing over 100,000 transactions per second with latency periods under 1 millisecond.
The Main Goal
Ultimately, the goal is to compete closely with centralized exchanges regarding performance. Sushi’s Head Chef, Jared Grey, had a few remarks regarding the innovative product and expectations.
“We are thrilled to collaborate with Layer N, as we fully embrace the ethos 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 released statement.
Here’s why we’re launching @susa_ex on @LayerN_Official:https://t.co/yy1E4f7VEe
— Jared Grey (@jaredgrey) February 14, 2024
He emphasized that Sushi’s “approach aligns seamlessly with the modular network strategy gaining traction in the DeFi space, making Layer N one of the optimal technology stacks to build on.”
Sushi Embarking on a Fresh Chapter
It is worth highlighting that Sushi has encountered visible growth in the last few years. Evolving from being one of the foundational DeFi protocols to its plans to launch a decentralized derivatives exchange, the company has demonstrated resilience in the ecosystem and what it requires to chart a new path for the future.
The company perceives the launch of Susa as a new phase in its journey, according to a remark from Dima Romanov, the CEO and co-founder of Layer N.
Sushi Token Price Surge
In response to the news of the impending Susa launch, SUSHI has experienced a bullish run, despite the gradual decline in the price of other related altcoins.
In the past 24 hours, the token has surged by 1.34% and is presently trading at $1.18. Considering this level of momentum, meanwhile, the value of SUSHI may enhance further when the decentralized exchange is eventually launched as it will create another avenue for users to express fresh demands on SUSHI.
