The team behind DEX SushiSwap has shared news of the launch of their newest project, a decentralized derivatives exchange called Susa.
Using the Layer N L2 solution, Susa claims to be able to process more than 100,000 transactions per second with minimal delay, giving it an edge in performance compared to other centralized exchanges.
Susa utilizes Layer N’s StateNet ecosystem architecture to create non-custodial applications, from simple smart contracts to complex rollups.
SushiSwap’s Jared Gray, also known as the “Chef,” believes that this approach, along with the platform’s modular network strategy, is fitting for the evolving DeFi space. Susa will be one of the first exchanges to launch as a StateNet node, initially offering perpetual contracts with plans to add spot and “exotic” markets in the future.
Layer N is a second layer solution that aims to scale decentralized financial applications by creating a network of optimized rollups.
The startup, which recently closed a $5 million seed round, is led by Peter Thiel’s venture capital firm, Founders Fund. In September 2023, SushiSwap announced its expansion to the Aptos level 1 blockchain, and the launch of Susa is a further step in the project’s growth.
