Sushi to launch Susa — a decentralized derivatives platform on Layer N

Sushi is set to launch Susa, a decentralized derivatives platform on Layer N, an Ethereum Layer 2 solution aiming for high-speed transactions.

Layer N will support the development of applications, from smart contracts to rollups, through its Nord Engine, promising transaction speeds of under one millisecond.

“Sushi is excited to partner with Layer N,” said Jared Grey, Sushi’s Head Chef, emphasizing the partnership’s alignment with the decentralized finance (DeFi) spirit and Layer N’s capability for “greater capital efficiency and deeper liquidity” thanks to its modular rollup approach, leveraging Ethereum’s security.

Layer N, described as an “Ethereum StateNet,” is a network facilitating shared communication and liquidity among rollup nodes. It is preparing for a mainnet launch this month, having achieved 20,000 transactions per second (TPS) in tests, with a peak of 120,000 TPS.

The project has attracted significant investment, including $5 million in seed funding in September 2023, co-led by Founder’s Fund, established by Peter Thiel.