Multi-chain DEX platform Sushi plans to deploy its “most ambitious project to date” Susa on Layer N – an upcoming Ethereum Layer 2 designed as a network of custom and optimized rollups.
Posted February 14, 2024 at 12:59 am EST.
Decentralized exchange (DEX) platform Sushi plans to launch a new perpetuals crypto exchange called Susa on a new Ethereum Layer 2 network Layer N that is expected to go live later this month.
The Sushi team introduced Susa in a Feb. 13 blog post, with hopes that the new platform will push the boundaries across four major vectors: scale and features, a permisionless vertical ecosystem, capital efficiency and a fully on-chain order book settlement.
1/ Introducing Sushi’s most exciting and ambitious project to date, @susa_ex — the most powerful perpetuals exchange in crypto.https://t.co/IGMDvhnX3U
— Sushi.com (@SushiSwap) February 13, 2024
Susa developers will be able to build custom applications on top of the exchange, ranging from simple smart contract applications to fully built-out rollups which can tap into the platform’s liquidty and users.
Layer N is a new Layer 2 network that is designed as a network of custom and optimized rollups, which the team is calling “Ethereum’s StateNet.” The network is built on a shares communication layer that allows Rollup nodes to seamlessly communicate and interact with each other.
The network uses EigenDA to store batched transaction data as part of being a rollup, making it cheaper than storing it directly on the Ethereum mainnet.
“Imagine if centralized exchanges we are all familiar with could allow developers to build applications directly on top of them. That’s what we are enabling,” said Layer N CEO Dima Romanov, when the network hit 100,000 transactions per second on a closed testnet last month.
The Layer N team raised a $5 million round of seed funding in September, co-led by dao5 and Peter Thiel’s Founders Fund.
Susa will use Layer N’s Nord Engine to enable these faster transaction times that will ideally be on par with centralized exchanges in performance.
“Through tech, product innovations, and deep integrations with Sushi, Susa will be a game-changer for DEXs,” said the Susa team.
