Author: OurNetwork

Compiled by: Deep Tide TechFlow

DeFi Ecosystems

Sui | Aptos

Sui

Biff Buster | Website | Dashboard

The total locked value of multiple DeFi protocols on Sui exceeds $100 million.

  • In the past six months, the Sui blockchain has performed beyond expectations. With increasing transaction volumes, lower fees, and enhanced liquidity, Sui is gradually becoming an important center for DeFi. This trend is interconnected as seen from the activities of decentralized exchanges (DEX) and total locked value (TVL). Since the beginning of the year, both TVL and DEX transaction volumes have significantly increased, showing strong market interest in trading, supplying, and lending the SUI token.

Artemis

Artemis

  • Throughout the year, daily DeFi activity has remained stable, with an average of about 2,000 users per day. During October, there was a surge in the number of users, which may be related to the launch of Deepbook V3, the third iteration of the centralized limit order book (CLOB) on Sui. At the same time, the DEEP token for Deepbook also launched.

Artemis

  • When analyzing the growth of protocols on Sui, the impact of the lending protocol Suilend is most significant. Although its total locked value (TVL) was less than $10,000 at the beginning of the year, Suilend now accounts for over 20% of Sui's total TVL. Even during the adjustments of Sui's blockchain TVL, Suilend has maintained its growth momentum.

DeFiLlama

DeFiLlama

  • Trading highlights: After the launch of Deepbook V3, eligible users can claim DEEP as a reward for their activities within the Sui ecosystem. Users can exchange 750 Mist for DEEP, valued at approximately $0.0003. This indicates that Deepbook has low latency and enhanced scalability, making it particularly suitable for active users looking to reduce fees.

Aptos

Haley | Website | Dashboard

Aptos TVL broke $900 million before the launch of USDT, setting a new historical high.

  • On October 22, 2024, Aptos's total locked value (TVL) reached $911 million, ranking 11th among all blockchains. One of the main drivers of this growth is Echo, a Bitcoin liquidity re-staking protocol that recently launched on Aptos, with a TVL nearing $150 million. Echo has become the fourth largest DeFi protocol on Aptos, following Aries Markets, Amnis Finance, and Thala Labs. Since the beginning of 2024, Aptos's TVL has increased by nearly 600%, peaking at $1.3 billion when including re-staking. With the world's leading stablecoin USDT set to launch on Aptos, this growth momentum is expected to continue.

DeFiLlama

  • Tether has launched native USDT on Aptos, marking the first deployment of this stablecoin in the Move ecosystem. This means Aptos users can use the world's fastest and most cost-effective on-chain dollar. The market cap of stablecoins on Aptos has approached $275 million, increasing by $50 million since the beginning of October. Now, stablecoins account for over 25% of Aptos's total locked value (TVL).

DeFiLlama

DeFiLlama

  • Aptos's monthly active users have doubled month-over-month, with active accounts on the network exceeding 8 million. Since the beginning of this month, this number has increased by nearly 50%, from 4.1 million active accounts, indicating that Aptos's on-chain usage activity has reached a historical high.

Aptos Labs