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Decentralized finance company Sushi is planning to launch a decentralized derivative platform called Susa on Layer N, an Ethereum Layer 2 that tries to copy certain aspects of centralization for decentralized platforms.
According to the announcement, Susa developers will be able to build custom applications on top of the exchange, ranging from smart contract applications to fully-fledged totals.
With the ultimate goal of competing in performance with centralized exchanges, it will use Layer N’s Nord Engine to enable thousands of transactions in less than a millisecond.
Jared Gray, CEO of Sushi, said, “Sushi is excited to partner with Layer N because we fully embrace the spirit of decentralized finance by combining our expertise to develop superior products.”
“Layer N’s modular approach to totals unlocks greater capital efficiency and deeper liquidity, while benefiting from the security of Ethereum,” he added.
“This approach aligns perfectly with the modular network strategy that is gaining interest in the DeFi space and makes Layer N one of the best technology stacks that can be built upon,” he added.
Layer N is a network consisting of aggregation nodes called “Ethereum StateNet” which share a communication and liquidity layer, according to its website.
The main network of Layer N is expected to go live this month. In a test run, the platform achieved 20,000 transactions per second with a peak of 120,000 TPS.
Layer N raised a $5 million seed fund co-led by Founder’s Fund, a venture company founded by former PayPal CEO Peter Thiel, in September 2023.
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