The SUI network has recently experienced a significant surge in attention and activity. According to data from DefiLlama, the Total Value Locked (TVL) on the SUI network has surpassed $1.6 billion, now reported at $1.632 billion, with a growth of over 9% in the past 24 hours. Additionally, the DEX trading volume on the SUI network reached $599 million, marking a 35.01% increase from the previous week. The price of the SUI token continues to show strength, having doubled from its bottom, with its market capitalization exceeding $10 billion and ranking 13th in the cryptocurrency market.
In terms of positive developments, asset management firm 21Shares has registered a SUI ETF in Delaware, further boosting market confidence.
DeFi Expansion: Notable Projects in the SUI Ecosystem
Suilend Yield Farming
Suilend is a leading lending protocol on the SUI network, currently offering stablecoin annual percentage yields (APY) between 8% and 10%. Users can achieve up to 50% APR by staking WAL tokens. The platform is also conducting its second airdrop round, providing staking participants with potential rewards.
Momentum (@MMTFinance)
As the first DEX on SUI to implement the ve(3,3) model, Momentum serves as a core hub for stablecoin liquidity. Stablecoin pools offer around 20% APY, with some high-yield secondary pools reaching up to 500%. However, users should note that liquidity providers (LPs) may not earn rewards if the pool deviates from its preset range, especially during one-sided market conditions. The platform has not yet launched its native token (TGE), offering participants both farming opportunities and potential airdrops.
Haedal (LST + DeFi)
Haedal boasts strong backing from investors such as Hashed, OKX Ventures, Animoca, and the Sui Foundation. Its core focus lies in liquid staking tokens (LST), strategic arbitrage, and asset management. A key innovation is the combination of HMM and HaeVault, which enhances traditional LST yields from simple staking to multi-strategy portfolios. Current dual-sided pools (e.g., HAWAL-WAL) offer APYs as high as 56%, while single-asset staking yields range from 5% to 7%. Although secondary pools provide higher returns, users should be aware of impermanent loss risks.
Core Infrastructure Projects
Walrus (@WalrusProtocol)
Walrus is a decentralized storage protocol and a key infrastructure project officially supported within the SUI ecosystem. It supports high-frequency calls in AI scenarios and unstructured data storage, emphasizing high availability and low cost. Holding WAL tokens allows participation in mainnet staking with attractive annual yields and potential airdrop benefits. The token is already listed on South Korean exchanges but not yet on Binance.
DeepBook (@DeepBookonSui)
As a native order book DEX developed by FlowX & FlowBTC, DeepBook acts as the liquidity engine for the entire DeFi ecosystem on SUI. It focuses on strategic trading and stablecoin market-making, offering high performance and low latency. Similar to Walrus, it is listed on South Korean exchanges but not on Binance.
Suiplay & Gaming Device SuiPlay0x1
Suiplay is a lightweight Web3 gaming portal on SUI, designed for ease of use without complex wallet operations. It supports mini-games and social plaza modes, enabling developers to publish games quickly and users to enjoy seamless experiences. A joint initiative by Mysten Labs and gaming startup Playtron, the first pre-order users of the SuiPlay0x1 device will receive Soulbound NFTs, offering benefits such as ecosystem airdrops, rewards, and special access. Device deliveries are scheduled to begin in 2025. Several ecosystem projects have already conducted airdrops for SuiPlay0X1 holders.
Seal: Decentralized Secrets Management (DSM)
Developed by Mysten Labs, Seal is a decentralized secrets management service currently live on the SUI testnet. It enhances data security for Web3 applications through on-chain access control and threshold encryption.
Core features include:
- On-chain access control: Utilizes Move smart contracts to manage decryption key access.
- Threshold encryption mechanism: Distributes key management across multiple nodes to eliminate single points of failure.
- Client-side encryption/decryption: Ensures user data privacy.
- Compatibility with decentralized storage solutions like Walrus.
Participants in the testnet may qualify for potential airdrops.
How to Participate:
- Download a SUI wallet and switch to the testnet (Testnet).
- Obtain test tokens from the official faucet.
- Access the test interface via the provided portal.
- Follow the Allowlist & Subscription demo instructions.
Frequently Asked Questions
What is driving the recent growth in the SUI ecosystem?
The surge in TVL, increased DEX trading volume, and positive developments like the SUI ETF registration have boosted confidence. Additionally, high-yield opportunities in DeFi projects and innovative infrastructure are attracting users.
How can users participate in Suilend's airdrop?
By staking assets on the Suilend platform, users become eligible for the ongoing airdrop rounds. Specific details and requirements are usually announced on their official channels.
What are the risks associated with high-yield pools on Momentum?
Liquidity providers may not earn rewards if the pool's parameters deviate from the预设 range, particularly during volatile or one-sided markets. Users should assess their risk tolerance before participating.
How does Haedal improve traditional LST yields?
Through its HMM and HaeVault strategies, Haedal combines multiple yield-generating approaches, moving beyond simple staking to optimize returns while managing risks.
What makes Walrus Protocol unique in decentralized storage?
It focuses on high availability and low cost, specifically supporting AI-related data needs and unstructured storage, making it ideal for developers and enterprises.
When will the SuiPlay0x1 device be available?
Deliveries for pre-ordered devices are expected to start in 2025, with early adopters receiving exclusive NFTs and ecosystem benefits.
For those interested in exploring real-time yield opportunities and advanced staking strategies, 👉 discover more ecosystem insights. Always conduct thorough research and consider risks before engaging in decentralized finance activities.