The upward trend of SUI accelerates, understand the SUI ecosystem in one article

Recently, the SUI network has seen a surge in popularity, attracting significant attention. According to DefiLlama data, the TVL (Total Value Locked) of the SUI network has surpassed $1.6 billion, currently reported at $1.632 billion, with a growth of over 9% in the past 24 hours. Meanwhile, the DEX trading volume on the SUI network has reached $599 million, up 35.01% from last week. The price of SUI tokens continues to strengthen, having doubled from its lows, with a market capitalization exceeding $10 billion, ranking thirteenth in the cryptocurrency market.

On the positive news front, asset management company 21Shares has registered a SUI ETF in Delaware, USA, further boosting market confidence.

DeFi Explosion: Eco Projects Worth Participating in on SUI

Suilend Mining

• The mainstream lending protocol on SUI, currently offering annualized returns on stablecoins between 8%-10%, with up to 50% APR available through WAL staking.

• Suilend is currently conducting its second round of airdrops, and staking provides an opportunity to earn rewards.

Momentum (@MMTFinance)

• The first DEX on SUI to adopt the ve(3,3) model, serving as the core of stablecoin liquidity.

• The annualized return on the stablecoin pool is around 20%, with high-yield secondary pools reaching up to 500%, but caution is advised: LPs in this model will not yield returns if they exceed the preset range, especially in one-sided market conditions.

• Currently, there is no token issuance (TGE), and mining can also yield airdrop opportunities.

Haedal (LST + DeFi)

• Strong background, with investors including Hashed, OKX Ventures, Animoca, Sui Foundation, and others.

• The core is LST (Liquid Staking Tokens) + strategy arbitrage + asset management.

• The innovation lies in the combination of HMM and HaeVault, enhancing traditional LST yields from single staking to multi-strategy combinations.

• Currently, bilateral pools (e.g., HAWAL-WAL) offer annualized returns of up to 56%, with single token staking yielding 5%-7%.

• The secondary pool offers higher returns but comes with impermanent loss.

Core Infrastructure Projects

Walrus (@WalrusProtocol) has issued tokens, ranking in the top 100, not yet listed on Binance

• A decentralized storage protocol, officially supported as a key infrastructure project within the SUI ecosystem.

• Supports high-frequency calls and unstructured data storage in AI scenarios, emphasizing "high availability + low cost."

• Holding WAL allows participation in mainnet staking, offering decent annualized returns and potential airdrops.

DeepBook (@DeepBookonSui) ranks in the top 100, not yet listed on Binance

• A native order book DEX developed by FlowX & FlowBTC, serving as the liquidity engine for the entire DeFi ecosystem.

• Focused on strategy trading and stablecoin market making, with strong performance and low latency.

Suiplay & Gaming Device SuiPlay0x1 Not Yet Issued

• Suiplay is a lightweight Web3 gaming portal on SUI, requiring no complex wallet operations, focusing on a one-click user experience.

• Supports mini-games and social plaza modes, allowing developers to quickly publish games and users to easily engage.

• Launched in collaboration with Mysten Labs and gaming startup Playtron, early pre-order users can receive Soulbound NFTs, enjoying ecosystem airdrops, rewards, and special access. Delivery of pre-ordered devices will begin in 2025.

• Several ecosystem projects have already issued airdrops to holders of the gaming handheld SuiPlay0X1.

Seal: Decentralized Secret Management Service (DSM) Not Yet Issued

Launched by Mysten Labs, currently live on the SUI testnet. Seal provides a more secure data protection solution for Web3 applications through on-chain access control and threshold encryption.

Core Features:

• On-chain access control: Set who can access decryption keys through Move smart contracts.

• Threshold encryption mechanism: Distributed key management across multiple nodes, eliminating single points of failure.

• Client-side encryption/decryption: Ensures user data privacy.

• Compatible with decentralized storage, such as Walrus.

Currently, participating in testing offers a chance to earn potential airdrops.

How to Participate:

1. Download the SUI wallet and switch to the testnet (Testnet).

2. Claim test tokens: https://faucet.sui.io

3. Access the test entry: https://seal-example.vercel.app

4. Follow the Allowlist & Subscription examples for operation.