Written by Web3 Insights
Since December, the SUI ecosystem has experienced an explosion, with TVL soaring. On January 14, TVL exceeded the $300 million mark, with a weekly increase of more than 80%. As of this writing, TVL has reached $320 million.
According to DefiLama, among the top 10 projects by TVL, Dex is the track with the largest share; Scallop and NAVI Protocol in the Lending track occupy the top 2 places, and their TVL accounts for one-third of the TVL of the SUI ecosystem.
This article summarizes the introduction and usage of the top 10 potential projects in the SUI ecosystem TVL:
SUI Ecological Potential Project
Scallop
Scallop is the money market for the Sui ecosystem. By emphasizing institutional-grade quality, enhanced composability, and strong security, Scallop is committed to building a dynamic money market that provides high-rate lending, low-fee lending, AMM and asset management tools on a unified platform, and provides SDKs for professional traders.
There is no public financing information yet, and it ranks first with a TVL of US$60 million.
How to interact:
Open the Scallop official website and connect to your wallet
Click Lending
Select the currency, click [Supply] or [Withdraw] (5U and above)
Currently, Scallop is still launching activities on the Web3 task platform. Users who have more than 5U lending interactions on Scallop meet the activity conditions.
After the interaction is completed, you can submit the information and win 10 SUI. https://taskon.xyz/campaign/detail/31297
NAVI Protocol
Navi is a one-stop liquidity protocol native to Sui. It enables users to participate in the Sui ecosystem as a liquidity provider or a borrower. Liquidity providers supply assets to the market, earning passive income through yields, while borrowers have the flexibility to obtain loans on different assets. Navi focuses on providing the necessary DeFi infrastructure and aims to become a key player in the rapidly growing DeFi world in the Sui ecosystem. The protocol's innovative features, such as automatic leverage vaults and segregated mode, allow users to leverage their assets and gain access to new trading opportunities with minimal risk. NAVI is designed to provide support for digital assets of different risk levels, while its advanced security features ensure the protection of user funds and the mitigation of systemic risks.
How to interact:
Open the official website and connect to your wallet
Select [Supply] or [Borrow]
In addition to the lending function, Navi Protocol also supports cross-chain functions. Click [Bridge & Swap]
After the interaction, you can open Zealy. Navi’s official website has developed a Zealy Leaderboard. The deeper the interaction, the higher the ranking will be, and there may be rewards later.
Cetus (coins issued)
Cetus is a DEX and centralized liquidity protocol that focuses on Move-based ecosystems such as Aptos and Sui. Currently, the token has been issued, the token price is $0.1, and the circulation volume is 280 million.
Aftermath Finance
Aftermath Finance is a DEX platform based on Sui. It currently does not have its own platform token.
How to interact:
Open the official website and connect to your wallet
Click Stake SUI
After entering the number of tokens, click [Stake]
Currently, there is a reward activity for staking SUI on the aftermath official website.
FlowX Finance (Tokens Already Issued)
Based on the ecosystem-centric DEX built by Sui, the platform also provides customized services for developers, allowing them to easily build deep and sustainable liquidity pools.
It has already issued its own token $FLX. According to official information, the current token price is $2.51.
Kriya DEX
The first derivatives exchange developed based on SUI can achieve decentralized and transparent transactions that ensure that assets exist in one's own account, with a trading leverage of up to 20 times.
How to interact:
Open the official website and connect to your wallet
Click [Spot], drop down the selection box, and select [Liquidity]
Currently, Kriya Dex has launched an event. Click [Rewards] to enter the event page and check your progress.
Deepbook
DeepBook is a shared decentralized central limit order book exchange built for the Sui ecosystem, leveraging Sui's performance and providing a low-latency and high-execution engine to spread liquidity throughout the DeFi ecosystem. Based on its attributes, and the fact that there is no trading page on the official website, it is not expected to issue its own tokens, and leverage ecosystem aggregators such as MovEx, Turbos, and Kriya to spread liquidity.
Turbos (issued)
Turbos Finance is a non-custodial liquidity layer on top of Sui Network, providing an automated market maker (AMM) decentralized exchange with a centralized liquidity market maker (CLMM) model and derivatives trading capabilities. The current token price is $0.004.
Haedal Protocol
Haedal is a liquid staking protocol based on Sui that allows anyone to stake their Sui tokens to promote the governance and decentralization of the Sui blockchain.
How to interact:
Open the official website and connect to your wallet
Click [Stake] and enter the number of tokens
Hair
Volo is a liquid staking protocol that enables users in the Sui network to maximize their income while retaining access to their staked assets.
How to interact:
Open the official website and connect to your wallet
Click [Stake] and enter the amount
If you want to withdraw the staked assets, click [Unstake]
Among the top 10 projects in the SUI ecosystem by TVL, 3 have issued their own tokens: Cetus, FlowX Finance, and Turbos. Two projects have publicly stated that they will launch platform tokens: Haedal Protocol and Volo.
