Sushi, one of the leading decentralized finance (DeFi) platforms, has recently announced a new product that could revolutionize the landscape of crypto derivatives. Its native token, Sushi Coin, has surged following the announcement of an upcoming product: SUSA, a decentralized derivatives exchange. This development is set to redefine the landscape of DeFi, as SUSA harnesses the power of the Layer N network, renowned for its high transaction speed and optimized rollups.
In this blog post, I will explain what SUSA is, how it works, and why it is a game-changer for DeFi. I will also share my opinion on the potential of Sushi Coin and how you can get involved in this exciting project.
What is SUSA?
SUSA is a decentralized derivatives exchange that will be launched on the Layer N network, a layer 2 solution that enables fast and cheap transactions on Ethereum. SUSA will allow users to trade perpetual contracts, a type of derivative that has no expiry date and tracks the price of an underlying asset. Perpetual contracts are popular among crypto traders, as they offer high leverage and flexibility.
SUSA will leverage Layer N’s Nord Engine, a modular and scalable rollup framework that can process over 100,000 transactions per second with latencies under one millisecond. This will enable SUSA to offer a superior user experience, comparable to centralized exchanges, while maintaining the security and decentralization of Ethereum.
SUSA is a joint venture between Sushi and Layer N, two prominent players in the DeFi space. Sushi is a decentralized exchange (DEX) that offers various products and services, such as liquidity pools, yield farming, lending, and governance. Layer N is a layer 2 solution provider that aims to bring scalability and interoperability to Ethereum.
Why is SUSA a game-changer for DeFi?
SUSA is a game-changer for DeFi because it will offer a new level of performance, capital efficiency, and liquidity for decentralized derivatives. Here are some of the benefits that SUSA will bring to the DeFi ecosystem:
SUSA will leverage Layer N’s Nord Engine to achieve high transaction speed and low latency, which are crucial for derivatives trading. SUSA will be able to compete with centralized exchanges in terms of performance, while offering the advantages of decentralization, such as censorship-resistance, transparency, and self-custody.
SUSA will use Layer N’s modular approach to rollups, which allows for different types of rollups to coexist and interact on the same network. This will enable SUSA to optimize capital efficiency and liquidity across different markets and assets, as well as to integrate with other DeFi protocols and platforms.
SUSA will benefit from Sushi’s existing user base and liquidity pools, as well as Layer N’s cross-chain capabilities. SUSA will be able to tap into the liquidity of multiple chains and ecosystems, such as Ethereum, Binance Smart Chain, Polygon, and more. This will create a large and diverse market for decentralized derivatives, attracting more users and traders to SUSA.
What is the potential of Sushi Coin?
Sushi Coin is the native token of SushiSwap, and it serves multiple purposes within the platform. Sushi Coin holders can participate in governance, earn fees from trading and liquidity provision, and access exclusive features and rewards. Sushi Coin is also the main currency for SUSA, as it will be used for paying fees, staking, and incentivizing liquidity.
Sushi Coin has seen a significant price increase following the announcement of SUSA, as the market anticipates the launch of the new product and its impact on the platform. Sushi Coin is currently trading at around $1.18, up from $1.13 before the announcement. Sushi Coin has a market cap of about $1.5 billion, ranking it among the top 100 cryptocurrencies by market cap.
Sushi Coin has a lot of potential to grow further, as SUSA will likely boost the demand and utility of the token. SUSA will also increase the exposure and adoption of Sushi, as it will attract more users and traders to the platform. SUSA will also enhance the innovation and competitiveness of Sushi, as it will showcase its ability to develop cutting-edge products and services for the DeFi space.
Sushi Coin Price Prediction 2024
There are different sources and methods that provide Sushi price predictions for 2024, based on historical trends All Time Low (ATL) is $0.47 and All Time High (ATH) is $23, technical analysis, and fundamental factors. However, these predictions are not guaranteed to be accurate, and they may vary significantly depending on the assumptions and models used. Therefore, it is important to do your own research and analysis before investing in any cryptocurrency.
According to one source, Sushi is forecasted to hit $1.31 by the end of 2024, which is a 20.2% increase from the current price of $1.09. The expected average Sushi price for 2024 is $1.29, which is a 18.3% increase from the current price. The maximum predicted price for 2024 is $1.81, which is forecasted to be reached in July 2024.
Another source predicts that Sushi will reach $2.65 by the end of 2024, which is a 143.1% increase from the current price. The Sushi price prediction for 2024 is based on the historical price movements of Sushi and the BTC halving cycles.
A third source estimates that Sushi will trade at $0.99 by February 10, 2024, which is a 7.3% decrease from the current price. The Sushi price prediction for 2024 is based on technical indicators, such as sentiment, volatility, moving averages, and relative strength index.
As you can see, there is a wide range of Sushi price predictions for 2024, from $0.99 to $2.65. This shows the uncertainty and volatility of the cryptocurrency market, as well as the difficulty of forecasting future prices. Therefore, you should always be cautious and responsible when investing in Sushi or any other cryptocurrency..
How can you get involved in SUSA?
SUSA is expected to launch in the second quarter of 2024, according to the official announcement. However, you can get involved in SUSA before the launch by following these steps:
Buy Sushi Coin:
You can buy Sushi Coin from various exchanges, such as Binance, Coinbase, Kraken, and more. You can also swap other tokens for Sushi Coin on Sushi’s DEX or other DEXes, such as Uniswap, 1inch, and more. You will need Sushi Coin to trade on SUSA, as well as to access other benefits and rewards.
Stake Sushi Coin:
You can stake Sushi Coin on Sushi’s platform to earn passive income from fees and rewards. You can also stake Sushi Coin on Layer N’s platform to support the security and decentralization of the network. You will also be eligible for airdrops and incentives for staking Sushi Coin on both platforms.
Join the community:
You can join the Sushi and Layer N communities to stay updated on the latest news and developments regarding SUSA. You can also participate in governance, discussions, and feedback to shape the future of SUSA. You can find the Sushi and Layer N communities on various platforms, such as Twitter, Discord, Telegram, Medium, and more.
SUSA is a new product that will launch on the Layer N network, offering a decentralized derivatives exchange that will rival centralized counterparts in terms of performance, capital efficiency, and liquidity. SUSA is a joint venture between Sushi and Layer N, two leading DeFi platforms that aim to bring scalability and interoperability to Ethereum. SUSA will also boost the demand and utility of Sushi Coin, the native token of Sushi, which serves multiple purposes within the platform.
SUSA is a game-changer for DeFi, as it will offer a new level of performance, capital efficiency, and liquidity for decentralized derivatives. SUSA will also increase the exposure and adoption of Sushi, as it will attract more users and traders to the platform. SUSA will also enhance the innovation and competitiveness of Sushi, as it will showcase its ability to develop cutting-edge products and services for the DeFi space.
If you are interested in SUSA, you can get involved by buying and staking Sushi Coin, as well as joining the Sushi and Layer N communities. SUSA is expected to launch in the second quarter of 2024, so stay tuned for more updates and announcements. SUSA is a product that you don’t want to miss, as it could be the next big thing in DeFi.