SUI big pump approaches historical high point, ecosystem TVL breaks through 328 million USD.

The native token of the Sui public chain (SUI) has shown strong price movement recently, nearly reaching its highest level since launch, surpassing its MOVE competitor Aptos. Meanwhile, the total lock-up position (TVL) of the Sui ecosystem has also been steadily rising, surpassing $328 million on January 16.

This growth trend is likely to have a positive impact on the rebound of SUI token prices. Behind the scenes, the Sui Foundation is promoting ecological development in various ways, including developer funding programs, project funding programs, and education and support programs. As of January 12, a total of 86 projects have received a total of $4.72 million in funding. In addition, Sui has also provided additional support for liquid staking, announcing on December 14, 2023, the contribution of 25 million SUI tokens to increase liquidity for liquid staking tokens (LST) across various DeFi protocols.

Sui continues to provide ongoing token incentives for leading DeFi projects, with almost all major DeFi projects receiving official allocations of SUI token rewards. This strategy seems to create a virtuous cycle: the foundation incentivizes liquidity through tokens, the ecosystem develops, which in turn drives the SUI price movement upward. Below is an overview of the development status of several major DeFi projects within the Sui ecosystem:

NAVI Protocol is a rapidly growing lending protocol, with a TVL growth of 208% in the past month. Users can earn incentives by depositing and borrowing SUI, USDC, and USDT, and in some cases, they can also arbitrage through looped borrowing. NAVI has not yet issued its own governance token, which is expected to be launched in the first or second quarter of 2024.

Cetus, as the largest DEX on Sui, has long held the top position in Sui TVL rankings. It has a close relationship with Sui's official team and has co-hosted several events. Cetus adopts a concentrated liquidity model similar to Uniswap V3, where certain trading pairs can yield higher returns during periods of significant market volatility.

Scallop is another lending protocol where users can earn SUI token rewards by participating in incentive programs. Users can choose to deposit funds into Lending Pools and then stake them in sCoin Pools, or engage in circular borrowing. Scallop has not yet launched its own governance token.

DeepBook is an order book DEX built by the Sui Foundation and the MovEx team, allowing other DeFi protocols to integrate its liquidity. As part of Sui, DeepBook may not issue additional governance tokens.

FlowX Finance is a DEX with a continuously growing TVL. Providing liquidity on FlowX currently rewards SUI tokens, and the APR for certain stablecoin trading pairs can reach up to 36%.

Aftermath Finance provides LST, AMM DEX, and trading aggregator services. Its LST product afSUI/SUI trading pair is the main source of liquidity. Currently, there are only a few liquidity pools available for SUI token incentives.

KriyaDEX is a spot and perpetual contract DEX that allows users to lock up liquidity, with a higher APR for longer lock-up periods.

Overall, the projects with high TVL in the Sui ecosystem are mainly concentrated in three categories: liquid staking, lending, and DEX. Liquid staking projects can gain additional liquidity support provided by Sui; lending projects such as NAVI Protocol and Omni BTC have recently grown rapidly; while DEX projects are developing steadily, with Cetus maintaining its leading position.

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RektHuntervip
· 08-12 10:46
Aha, another ecosystem To da moon.
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AirdropHunterZhangvip
· 08-12 10:24
Quietly sharpening the knife while Clip Couponsing. This pump is too fierce. Brothers, it's time to run, not chase.
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SandwichDetectorvip
· 08-12 10:22
Jumping or not is not important, anyway I don't understand Blockchain.
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