Sushiswap has announced the launch of Sushi Labs to drive a new wave of growth and innovation for the protocol. In addition to the partnership, it has also plans to launch a new derivative exchange dubbed Susa in collaboration with Layer N.
The new Sushiswap change involves a shift to a “Labs model” within the SushiSwap ecosystem. This change aims to restructure the current organization, enhance operational efficiency, and accelerate protocol development.
Sushiswap is a decentralized cryptocurrency exchange platform forked from Uniswap. It started as an Ethereum-based system that aims to bring together a community of crypto users and fans to work on a platform where they can trade cryptocurrencies without the need for a custodian.
Currently, it has been expanded to support other blockchains allowing users to transact with hundreds of tokens.
Layer N is a multi-tenant Layer 2 (L2) network built on Ethereum, designed to enable modern performance and user experience (UX) on top of a shared composability and liquidity layer. It is a network of custom VMs (XVMs) powered by a shared communication and liquidity layer, which allows for easy communication, and interaction between XVMs.
According to Sushiswap, Susa will leverage Layer N’s Nord Engine to enable the exchange to process over 100,000 transactions per second with latency periods under 1 millisecond. With the Layer N integration, Susa will allow developers to build custom applications on top of the exchange.
Sushiswap announced that Susa will be among the first exchanges to launch as a Rollup Node on Layer N’s StateNet. Initially, Susa will offer perpetuals, with plans to expand into spot and exotic markets. The exchange also plans to introduce a range of user-centric features in the future.
Per the plans, the new roadmap includes key projects such as RP v5, a multi-token product suite, WARA (a Solana DEX), SARU (an Apechain DEX), and the Sushi Network/Appchain. Sushiswap has adopted a council structure to empower the community, introducing the Sushi High Kitchen, Treasury Council, Grants Council, and Ambassador Council.
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Sushiswap and Layer N partnership
Earlier this year, Sushiswap introduced Susa, a next-generation perpetuals exchange that offers unparalleled scale, user experience, and capital efficiency.
According to the introductory documents, Susa aims to provide a user experience comparable to centralized exchanges, achieving a TPS of 100K, sub-50ms latency, full cross-collateral, and cross-margin capabilities across all markets. It will be built on Layer N’s StateNet and Nord Engine through a partnership between the two.
Commenting on the partnership and Susa, Dima Romanov, CEO and co-founder of Layer N, said,
“Sushi has been a core DeFi protocol for years, and we are thrilled to support them in their next chapter. We are excited to see Susa as one of the first rollup nodes to launch on Layer N.”
Romanov believes Susa is set to become one of the largest perpetual exchanges in the decentralized space and to build a significant ecosystem.
Jared Grey, CEO of Sushiswap, stated, “Sushi is excited to partner with Layer N as we fully embrace the spirit of decentralized finance (DeFi) by combining our expertise to develop superior products.”
Grey added,
“Layer N’s modular approach to rollups unlocks greater capital efficiency and deeper liquidity, all while leveraging Ethereum’s security. With perpetual DEXs comprising a small share of the market, introducing Susa underscores our commitment to innovation.”
