We've been talking a lot about @SuiNetwork's growth in on-chain metrics and price lately.
That being said, as asked by CT, we're now releasing an in-depth study of $SUI and its ecosystem.
Enjoy the thread!
Plenty of #Alpha here 🧵
That being said, as asked by CT, we're now releasing an in-depth study of $SUI and its ecosystem.
Enjoy the thread!
Plenty of #Alpha here 🧵
1/ Today's agenda:
1️⃣ Sui Explained
2️⃣ Metrics
3️⃣ Ecosystem
4️⃣ Final Notes
Let's go!
1️⃣ Sui Explained
2️⃣ Metrics
3️⃣ Ecosystem
4️⃣ Final Notes
Let's go!
2/ 1️⃣ Sui Explained
For those unfamiliar with @SuiNetwork, it is a Layer 1 blockchain designed to be completely scalable while maintaining robust security and decentralization principles.
For those unfamiliar with @SuiNetwork, it is a Layer 1 blockchain designed to be completely scalable while maintaining robust security and decentralization principles.
3/ How they do it:
The solution lies in parallelization. This can be achieved thanks to an "Object-Centric Model."
Simple transactions can bypass consensus and be executed in a near-instant time.
The solution lies in parallelization. This can be achieved thanks to an "Object-Centric Model."
Simple transactions can bypass consensus and be executed in a near-instant time.
4/ Complex transactions have to pass through SUI’s consensus protocol model, named “Narwhal and Tusk”.
This model not only delivers impressive TPS figures but also minimizes latency by breaking down tasks.
This model not only delivers impressive TPS figures but also minimizes latency by breaking down tasks.
5/ SUI incorporates a modified version of the Rust-based Move programming language, known as Sui Move.
Adjustments to the language were implemented to align with Sui's object-centric model, also facilitating human-readable signing requests for enhanced security.
Adjustments to the language were implemented to align with Sui's object-centric model, also facilitating human-readable signing requests for enhanced security.
6/ Sui boasts a highly skilled team with prior experience in Meta's blockchain project, Diem.
This experience has helped to get funding from top VCs, amounting to $336M!
Sui has allocated 157M $SUI ($205M now) to develop the ecosystem.
This experience has helped to get funding from top VCs, amounting to $336M!
Sui has allocated 157M $SUI ($205M now) to develop the ecosystem.
7/ 2️⃣ Metrics
Now that you've grasped the basics about SUI, let's take a look into a couple of the blockchain's metrics.
🔹TVL
SUI's TVL shows constant growth, recently surpassing $339M.
Notably, the numbers have had a rapid rise in Jan, along with $SUI's price appreciation.
Now that you've grasped the basics about SUI, let's take a look into a couple of the blockchain's metrics.
🔹TVL
SUI's TVL shows constant growth, recently surpassing $339M.
Notably, the numbers have had a rapid rise in Jan, along with $SUI's price appreciation.
8/ 🔹Daily Active Addresses & Daily Transactions
Sui has strong figures when it comes to daily active addresses and daily transactions.
While the chain has had peaks during specific periods, the average numbers are fairly competitive in comparison to other L1s and L2 chains.
Sui has strong figures when it comes to daily active addresses and daily transactions.
While the chain has had peaks during specific periods, the average numbers are fairly competitive in comparison to other L1s and L2 chains.
9/ 🔹 TPS
Despite once achieving 297k TPS during a test, which is a massive number, the average TPS on mainnet since launch is 103, which is still higher than most chains.
For instance, Arbitrum and Optimism have been recording less than 10 TPS lately.
Despite once achieving 297k TPS during a test, which is a massive number, the average TPS on mainnet since launch is 103, which is still higher than most chains.
For instance, Arbitrum and Optimism have been recording less than 10 TPS lately.
10/ 🔹 Price
As the TVL and number of on-chain users grow, the price of $SUI has been up as well.
Over the last 30d, it has surged by 118%!
As the TVL and number of on-chain users grow, the price of $SUI has been up as well.
Over the last 30d, it has surged by 118%!
11/ 3️⃣ Ecosystem
Now, you might be curious about what projects are flourishing on the SUI blockchain.
We've separated a list of 7 promising protocols to keep an eye.
Moreover, most of them are still TOKENLESS, indicating the possibility of upcoming #airdrops! 💎
Now, you might be curious about what projects are flourishing on the SUI blockchain.
We've separated a list of 7 promising protocols to keep an eye.
Moreover, most of them are still TOKENLESS, indicating the possibility of upcoming #airdrops! 💎
12/ • @navi_protocol
NAVI is a lending protocol on SUI. Being inspired by AAVE, it aims to become the top money market of the ecosystem.
The protocol has recently reached $100M in TVL.
Currently, it does NOT have a token, but $NAVI has already been confirmed!
NAVI is a lending protocol on SUI. Being inspired by AAVE, it aims to become the top money market of the ecosystem.
The protocol has recently reached $100M in TVL.
Currently, it does NOT have a token, but $NAVI has already been confirmed!
13/ • @bucket_protocol
Bucket operates as a CDP protocol, allowing users to deposit collateral in $SUI, $ETH, and blue-chip stables to mint $BUCK dollars.
With a TVL exceeding $5M, the protocol has also officially announced a token.
Mint $BUCK for an #airdrop opportunity!
Bucket operates as a CDP protocol, allowing users to deposit collateral in $SUI, $ETH, and blue-chip stables to mint $BUCK dollars.
With a TVL exceeding $5M, the protocol has also officially announced a token.
Mint $BUCK for an #airdrop opportunity!
14/ • @bluefinapp
BlueFin is the Perpetuals DEX of SUI.
Having secured nearly $30M in funding from reputable VCs such as @polychaincap and @DeFianceCapital, the protocol, as of now, doesn't have a token.
Go trade perps there for a chance to qualify for an airdrop! 📈
BlueFin is the Perpetuals DEX of SUI.
Having secured nearly $30M in funding from reputable VCs such as @polychaincap and @DeFianceCapital, the protocol, as of now, doesn't have a token.
Go trade perps there for a chance to qualify for an airdrop! 📈
15/ • @AftermathFi
AfterMath aspires to be the "Financial HUB of Sui."
As of now, users can execute swaps, provide liquidity, and stake $SUI to earn $afSUI, an LST.
The protocol has gathered over $40M in TVL and does NOT have a token yet.
Keep an eye on them 👀
AfterMath aspires to be the "Financial HUB of Sui."
As of now, users can execute swaps, provide liquidity, and stake $SUI to earn $afSUI, an LST.
The protocol has gathered over $40M in TVL and does NOT have a token yet.
Keep an eye on them 👀
16/ • @TypusFinance
Typus stands as an Options-Vault protocol on SUI, enabling users to engage in real-yield strategies with just one click.
With a TVL approaching $3M, the protocol is yet to introduce its native token.
Wouldn't mind checking it out...
Typus stands as an Options-Vault protocol on SUI, enabling users to engage in real-yield strategies with just one click.
With a TVL approaching $3M, the protocol is yet to introduce its native token.
Wouldn't mind checking it out...
17/ • @Scallop_io
Scallop is a lending protocol being built on Sui.
Currently, it has close to $70M in TVL and still lacks a token!
Engaging in lending and borrowing transactions could potentially qualify you for an airdrop! 🌐
Scallop is a lending protocol being built on Sui.
Currently, it has close to $70M in TVL and still lacks a token!
Engaging in lending and borrowing transactions could potentially qualify you for an airdrop! 🌐
18/ • @kai_finance_sui
Kai Finance is a yield aggregator, meaning that you can deposit funds in Vaults that will get you the best yields on Sui!
The protocol now has $1M in TVL, more vaults are going to be launched soon.
Also, NO token YET!
Kai Finance is a yield aggregator, meaning that you can deposit funds in Vaults that will get you the best yields on Sui!
The protocol now has $1M in TVL, more vaults are going to be launched soon.
Also, NO token YET!
19/ 4️⃣ Final Notes
Despite having an extremely experienced team and substantial funding, @SuiNetwork is still a nascent chain with a very primitive ecosystem.
As attention and activity increase, a potential SUI Season could be on the horizon!
Despite having an extremely experienced team and substantial funding, @SuiNetwork is still a nascent chain with a very primitive ecosystem.
As attention and activity increase, a potential SUI Season could be on the horizon!
20/ If you want to stay closer to $SUI, follow the team! 🫡
@b1ackd0g
@kostascrypto
@EvanWeb3_
@EmanAbio
@jameellionaire
@alonsodegortari
@jinkwell
@seannyboy126
@GDanezis
@b1ackd0g
@kostascrypto
@EvanWeb3_
@EmanAbio
@jameellionaire
@alonsodegortari
@jinkwell
@seannyboy126
@GDanezis
21/ Want to read more threads like this?
Make sure to drop a follow, like, and RT to receive daily insights on the market!
In the crypto universe, we’re your preferred alpha source 💫
Make sure to drop a follow, like, and RT to receive daily insights on the market!
In the crypto universe, we’re your preferred alpha source 💫
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