SushiSwap Launches Derivatives Exchange Susa

The DEX SushiSwap team has announced the launch of a decentralized derivatives exchange, Susa, built on the Layer N L2 solution.

Announcing Susa, a perpetual DEX by @SushiSwap and @LayerN_Official.

⚡️ LayerN’s Nord Engine featuring over 100k TPS & <1ms latency
? Unprecedented user-centric features
? CEX/CeFi Experience

Sign up: https://t.co/2QZRvH4p09

Blog: https://t.co/RbkQvi5jnQ pic.twitter.com/AGO1ZN4E6n

— Susa (@susa_ex) February 9, 2024

According to the announcement, Susa employs the Nord Engine stack, enabling the platform to process “over 100,000 transactions per second with latency periods of less than 1 millisecond.” Developers believe this transaction speed will allow the exchange to compete with centralized counterparts in terms of performance.

Susa can leverage the StateNet ecosystem architecture from Layer N to create non-custodial applications on top of the main platform—from simple smart contracts to complex rollups.

“Layer N’s modular approach to aggregation ensures higher capital efficiency and liquidity while utilizing Ethereum’s security. This approach perfectly aligns with the modular network strategy gaining momentum in the DeFi space,” stated SushiSwap’s “head chef” Jared Grey.

Susa is set to become one of the first exchanges to launch as a StateNet node. Initially, the platform will offer perpetual contracts, with plans to later add spot and “exotic” markets, DEX representatives highlighted.

Layer N is a second-layer solution designed as a network of customizable and optimized rollups based “on a common communication and liquidity layer.” The project’s main goal is to scale decentralized financial applications. Previously, the startup closed a $5 million seed round led by Peter Thiel’s venture firm Founders Fund.

Back in September 2023, SushiSwap announced its expansion to the Aptos first-layer blockchain.