Connect with us

Markets

Sushi unveils new decentralized derivatives exchange on Layer N

Published

on

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.





Source link

Andrew is a freelance writer. His current focus is blockchain technology and cryptocurrency. One could even call him a blockchain "enthusiast." In addition to content writing.He aspires to travel the world and experience different cultures.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Market Prices

Bitcoin

Bitcoin

$68,516.85

BTC -0.87%

Ethereum

Ethereum

$3,896.76

ETH 3.99%

Tether

Tether

$1.00

USDT -0.02%

Solana

Solana

$164.61

SOL -1.19%

XRP

XRP

$0.53

XRP -1.88%

Polkadot

Polkadot

$7.42

DOT 0.15%

Dogecoin

Dogecoin

$0.16

DOGE -4.13%

USD Coin

USD Coin

$1.00

USDC 0.00%

Binance Coin

Binance Coin

$601.95

BNB -0.13%

Cardano

Cardano

$0.46

ADA -0.12%

Facebook