Today, one week after the Sui Network mainnet went online, encryption researcher 2Lambroz experienced all the DeFi projects that were launched on the mainnet, organized and summarized the relevant information of these dApps in a table, and came to the following conclusions:
I am not very optimistic about Sui at the moment because most projects are still in the stage of raising funds and issuing tokens.
As a user, I have nothing to do and nothing worth mining.
- Stablecoin mining yields are not high due to low transaction volume
- Sui/USDT is not attractive
There is nothing "new" in the Sui ecosystem yet, but as a star public chain, it is still worthy of continued attention.
dApp experience on Sui chain:
Cetus Protocol
Category: Swap
Status: Mainnet launched, seed round financing completed, IDO in progress
Cetus is currently the DEX with the highest TVL on the Sui mainnet ($15 million), with single-coin staking and LP mining functions. It was selected into Sui's second round of developer funding project, and the seed round was invested by OKX Ventures, KuCoin Ventures, NGC Ventures, Animoca Ventures, etc.
Cetus conducted an IDO on the official website between May 8th and 10th with a valuation of approximately US$50 million, making it the most hyped project. At the time of writing, IDO is 7 hours away from closing and is already 3,900% oversubscribed.
Turbos Finance
Category: Swap
Status: Mainnet launched, seed round financing completed
Turbos Finance is a centralized liquidity token trading platform supported by Jump Crypto and Mysten Labs. The current TVL exceeds $4 million and no tokens have been issued yet.
Typus Finance
Category: Options
Status: Mainnet online
Typus Finance combines vaults, lending and derivatives to create an options market for long-tail assets. This approach not only improves LP returns, but also deepens liquidity, making it a win-win for all participants.
SuiPad
Category: Launchpad
Status: Mainnet online, IDO completed
SuiPad is a Launchpad platform on Sui that claims to be an official partner of Sui developer Mysten Labs (I have not verified this). The project announced the completion of $1.15 million in financing at the end of April from NGC Ventures, GBV Capital, Cogitent Ventures, PANONY and others.
Currently, SuiPad’s token $SUIP has completed IDO on the official website. It is worth mentioning that the public round was sold out within 55 seconds.
Mole DeFi
Category: Liquidity Mining
Status: Mainnet online
DeFi liquidity mining protocol on Aptos + Sui.
Action DEX
Category: Swap, Perpetual Contract
Status: Mainnet online
Kriya is a DEX that integrates spot trading, perpetual contracts, options and OTC trading. However, currently only spot trading is online on the Sui main network, and other functions are still under testing. The protocol currently has a TVL of only about $40,000.
GiroSwap
Category: Swap, NFT-Fi
Status: Semi-online?
While NFT-Fi, token swap, launchpad functionality has been released, there is no liquidity available for trading.
MovEX
Category: DEX
Status: Testnet
Highlights are AMM (V2 + Centralized Liquidity) and Mysten Labs-backed Order book Dex, a protocol worth keeping a close eye on.
PolyMedia
Category: Social
Status: Mainnet online
The decentralized chat platform on Sui is worth digging into.
Bucket Protocol
Category: Stablecoin, Lending
Status: Testnet
Bucket Protocol is a stablecoin/lending protocol built on Sui. Although it has not been launched on the mainnet yet, they won the second place on Sui demo day. It deserves long-term attention.
FlowX
Category: Swap
Status: Testnet
This is a DEX with single-coin staking and LP mining, and its official website documents have not yet released token economics.
However, I do like the UI and smoothness of their platform.
Flame Finance
Category: Swap, Launchpad
Status: Testnet
Flame Finance is a DEX built on Sui. Three points worth noting in token economics:
5%: Private or public sale
6.5%: airdropped to community builders and users
65.8%: Liquidity mining
Ryu Finance
Category: Swap, Launchpad, GameFi
Status: Testnet
Ryu Finance is a DEX that integrates spot trading and Launchpad functions. It has currently launched GameFi activities based on trading and liquidity mining.
Wisp Swap
Category: Swap, prediction market
Status: Testnet
Wisp Swap has not yet been launched on the main network. It has launched two functions: spot trading and prediction market. According to the white paper, it will also launch lending, Launchpad, pledge mining and other functions in the future.
In addition, after the mainnet is launched in the future, Wisp Swap will conduct token airdrops for users who trade on the testnet.
Sui DEX
Category: Swap, NFT-Fi, Launchpad
Status: Testnet
Sui DEX currently only has spot trading, but will also launch the NFT market and Launchpad in the future.
Interest Protocol
Category: Swap
Status: Testnet
Interest Protocol is a DEX with single-coin staking and LP mining. Highlights of token economics:
2.5%: airdrop
70%: Liquidity mining
AftermathFi
Category: Swap
Status: Testnet
The official claim is "on-chain CEX" - On-chain CEX. But looks like a DEX with single coin staking and LP mining.
Jujube Finance
Category: Swap
Status: Testnet
Essentially a DEX, but it looks like some GameFi is going to be launched to allow users to earn extra money.
Sui Swap
Category: Swap
Status: Testnet
A DEX with single-coin staking and LP mining.
Belaunch
Category: launchpad
Status: Testnet
A launchpad built on Sui.
Scale Protocol
Category: Perpetual Contract
Status: Testnet
Perpetual contract platform of P2P model.
ABEx Finance
Category: Perpetual Contract
Status: Testnet
A decentralized derivatives protocol built on Sui.
Patronus Fi
Category: Loan
Status: dApp coming soon
A lending market built on Aptos and Sui, but not yet live on the Sui testnet.
Navi Protocol
Category: Loan
Status: dApp coming soon
A platform that integrates lending and leveraged mining, it does not yet have token economics. You can currently join the waiting list on the official website.
TrustLend
Category: Loan
Status: dApp coming soon
It is believed that this is a decentralized lending platform, but official documentation has not been established, so there is no more information.
Scallop
Category: Swap, Loan
Status: Testnet
A DEX with spot trading and lending capabilities built on both the Solana and Sui networks.
SweeFi
Category: Income Aggregator (Single/Dual Currency Compound Interest)
Status: dApp coming soon
SweeFi’s goal is to allow everyone to benefit from market making, while improving the liquidity of the Sui ecosystem and providing higher efficiency and stability for DeFi.
Fenture Finance
Category: Revenue Aggregator
Status: dApp coming soon
AI-powered DeFi asset management tool built on Aptos and Sui.
Smoove Finance
Category: LSD, Vault
Status: dApp coming soon
SMOOVE is a decentralized LSD platform integrated with DeFi vaults designed to enhance the liquidity of pledged assets, maximize returns, and improve the security of the network by optimizing delegation metrics.
risk warning:
According to the "Notice on Further Preventing and Dealing with Speculation Risks in Virtual Currency Transactions" issued by the central bank and other departments, the content of this article is only for information sharing and does not promote or endorse any business or investment behavior. Readers are requested to strictly abide by the laws and regulations of their region and do not Engage in any illegal financial practices.
