Sui has demonstrated impressive growth and innovation in 2024, becoming a star project in the blockchain industry.
Since the beginning of 2024, although the Sui mainnet has just been online for less than a year, DeFi activities have shown great potential. So far, throughout the year, Sui and its community have repeatedly proved their strength in DeFi growth, global activities, and continuous technical optimization. There are developers who have built their ideal projects using Sui's superior features, and new developers who have discovered the friendliness and ease of use of the Sui ecosystem and easily started their Move programming journey.
Here are 17 milestones worth celebrating in the Sui ecosystem in 2024. See which ones you know:
February 4 TVL exceeds $500 million
Less than a year after Sui’s mainnet was launched, various DeFi protocols have pushed Sui’s TVL to $500 million, ranking among the top ten blockchains. This growth shows the great appeal of the Sui environment to DeFi projects.
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March 1st Stablecoin USDY is launched on Sui
Ondo Finance launched USDY, a yield-yielding stablecoin, bringing Sui the first dollar-pegged token and demonstrating the trust that financial institutions have in Sui.
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March 19 Sui Game Summit
During the Game Developers Conference in San Francisco, Sui hosted a gaming event to showcase upcoming games and attract developers to the Web3 world.
Read more: https://twitter.com/SuiNetwork/status/1773465526079263079
April 3 Move 2024 beta released
The Move programming language launched its 2024 version, adding new features such as method syntax, field location, and loop labels, providing developers with more possibilities.
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April 10 Sui Basecamp
Sui held its annual flagship two-day event during Paris Blockchain Week, which attracted more than 1,100 participants from 65 countries to witness innovative technologies in the blockchain space.
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April 21 Sui Overflow Hackathon
Sui held the largest global hackathon to date, which lasted for two months, with a total of 352 project submissions and 32 winning teams in 8 major tracks.
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May 3 Mainnet 1st Anniversary
Sui celebrates the first anniversary of the mainnet launch. The first year's achievements include technical breakthroughs such as zkLogin and DeepBook, as well as data performance such as 65 million transactions per day.
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June 18 Walrus launched
Mysten Labs announced Walrus, a decentralized data storage network that will use Sui as a coordination layer and play an important role in the data network revolution.
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August 6 Mysticeti announced
Although Sui already has innovative transaction processing capabilities, the engineering team introduced the Mysticeti consensus mechanism to further improve performance, especially low-latency processing in shared object transactions.
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September 2 SuiPlay0X1 released
At the Korea Blockchain Week, Sui released SuiPlay0X1, the first mobile device that supports Web3 games, which can connect players' game assets to bring them the ultimate gaming experience.
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September 5th Stablecoin AUSD is launched
The US dollar stablecoin launched by Agora has landed on Sui, providing DeFi users with new trading and exchange options, further enriching Sui's stablecoin ecosystem.
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September 29 TVL exceeds 1 billion USD
Driven by top DeFi protocols and users, Sui TVL reached $1 billion, demonstrating users' trust in Sui and the appeal of its low fees and fast transactions.
As of the time of writing, Sui TVL has surpassed $1.7 billion.
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September 30 Sui Bridge launched
Sui has developed a new native cross-chain bridge that supports cross-chain exchanges between SUI and ETH, and plans to support more assets and blockchains in the future.
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October 8th Stablecoin USDC is launched
The well-known stablecoin USDC has landed on Sui, and Circle ensures its 1:1 anchor with the US dollar, bringing more liquidity options to Sui.
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October 14th DeepBook launches DEEP
The launch of DEEP is not only the launch of the token, but also the introduction of a new governance model for Sui’s liquidity layer DeepBook, where users can vote to participate in rule-making.
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November 14th SuiNS Decentralization
SuiNS has transformed into a community-run decentralized organization and launched the NS governance token for governance and liquidity.
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FDUSD will be launched on November 20
First Digital Labs’ stablecoin becomes a native asset on Sui, becoming the fourth stablecoin in 2024, further demonstrating the trust that financial institutions have in Sui.
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future
The excitement continues
Let us continue to write a wonderful chapter for the future development of Sui ecology...
Looking ahead
Like a snowball that gets bigger and bigger, or like katamari absorbing everything around it, Sui’s growth will continue and accelerate in the coming years. 2025 will see the official launch of many announced projects and games. New projects will continue to emerge as more developers discover Sui and realize its endless possibilities.
As on-chain activity increases, so too will DeFi, fueled by a host of innovative protocols already in operation and supported by growing interest from financial institutions. The Sui community will come together at events around the world to network, collaborate, and build valuable connections.
Get ready for an exciting 2025!
