Sushi unveils new decentralized derivatives exchange on Layer N

Sushi, a multi-chain DEX platform, has announced Susa, a new perpetuals exchange that it says will redefine the derivatives exchange space.

The new platform is built with the technology of Ethereum scaling solution Layer N, Sushi said in an announcement.

Sushi’s new perpetuals exchange

Susa, the Sushi team says, is a “natural evolution of SushiSwap” as the DEX grows into a DeFi super ecosystem. It aims at delivering high-speed transactions, targeting 100,000 TPS with under 1 millisecond of latency. 

The perpetuals exchange will also feature deeper liquidity and greater on-chain capital efficiency.

Tapping into Layer N’s Nord Engine and achieving these features will see Susa rival centralized exchanges. Its goal is to bring the centralized finance (CeFi) experience to the decentralized finance (DeFi) perpetual trading market, Sushi noted in the blog post.

“Launching our perpetual DEX aims to capture the largely untapped market of perpetual trading, consistent with our multi-chain exploration strategy for growth. With perpetual DEXs comprising a small share of the market, introducing Susa highlights our drive for innovation. We look forward to introducing Susa to Sushi users and the DeFi community,” Sushi’s Head Chef, Jared Grey, said.

SUSHI, the governance token on Sushi traded at $1.21 on Wednesday, with reaction to the news largely muted as Bitcoin stole the show with its spike above $51k.