In the non-EVM chain ecosystem TVL, Solana ranks 1st, Bitcoin chain ranks 2nd, and Sui chain ranks 3rd.
The SOL chain was hyped in January this year, and the NFT runes of the BTC chain were hyped in April. Will the third largest chain be the next?$SUI I'm considering an ambush.
I studied this underestimated public chain. The Move language has only two brothers, one is the APT chain and the other is the SUI chain. However, the ecological ranking of APT is far behind that of SUI.
Today I will launch the first article in the SUI Ecosystem series from an ecological perspective. I will first study two projects and continue to update them later.
🔹SUI chain ecological display and preparation
🔹Ecosystem introduction: the derivatives protocol with the highest financing, bluefinapp
🔹Ecosystem introduction: the largest lending protocol Scallop_io
Let's explore together
Note: This article is my personal interaction record and is not intended as investment advice to anyone.
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🔹SUI chain information and ecological display
The following figure shows the TVL ranking of non-EVM chains. The 1st and 2nd places have performed well. Will they move to the 3rd place?
Regarding the SUI chain ecosystem, there are many good unissued coin projects
You can check the details through defillama, the link is as follows
https://defillama.com/chain/Sui
🔹Preparation
SUI Wallet Download
https://chromewebstore.google.com/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil
For any wallet, please be careful to protect your mnemonic phrase. Do not take photos, do not copy and paste, and it is best to write it down by hand and save it.
Fund Migration
Most exchanges cannot withdraw stablecoins directly to the SUI chain. I do the same operation as the APT chain. I buy first$SUI Then withdraw the money from the exchange to your wallet, and then directly swap it into the stable currency USDC in your wallet.
(Note that the slippage is set to 0.1%)
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🔹Ecosystem introduction: the derivatives protocol with the highest financing @bluefinapp
In the ranking I compiled, London-based @bluefinapp topped the list. Its mobile trading app is really easy to use.
Bluefin raised $37.5 million, led by top venture capital firm Polychain, which is $100,000 more than the super-high-funded @SynFuturesDefi. By the way, Syn is an excellent Chinese project.
High financing means strong strength. The project party has money to do things well and can efficiently promote project development.
Bluefin’s trading volume accounts for 70% of the total trading volume on Sui Chain (perpetual + spot), which is scary!
The official estimate is that the coin airdrop will be launched in late June or early July, so there is still time for interaction.
🔹Interaction steps
Log in to the official website
https://trade.bluefin.io/referral/v2-2t8m0q
There are currently 4 active interactions
Regular version trading mining, Bluefin Leagues, Sui mobile wallet trading lottery, stable currency pool points
1. Standard version of transaction mining
Deposit stablecoin USDC for leveraged contract trading
Special reminder: leveraged trading is very risky. Please do not exceed 10x leverage and keep in mind the risk of liquidation!
We are here to get the airdrop, not to gamble with leverage!
Through the transaction volume and transaction fees contributed by the transaction, Bluefin tokens are shared in the transaction mining activities
2. Bluefin Leagues Interactive Level Badge
An activity that runs parallel to trading and mining, with double rewards, which is equivalent to exchanging your trading volume for NFT. This NFT will directly airdrop the corresponding level of tokens when the coin is issued.
For example, Platinum has a transaction volume of 500,000. After obtaining this NFT, it is equivalent to the airdrop quantity bonus.
I think overall I won't lose money, it's just a matter of making more or less money
If you have the ability, you can try Sapphire and Black levels with 25 million and 5 million transaction volumes.
3. Sui mobile wallet transaction lucky draw 50 U per person
From June 11, 2024 to June 18, 2024, use the SUI wallet mobile version (Android/Apple) to conduct mobile transactions on Bluefin. The official will draw 500 lucky winners, each of whom will receive a reward of US$50, which is still a good deal.
The announcement is as follows
https://mystenlabs.com/blog/bluefin-special-offer-sui-mobile-wallet
4. Stablecoin pool points
Friends with large amounts of funds can deposit stablecoins into Bluefin's two pools for you to choose from: Stablecoin and Elixir pools
Stable coin pool: Stable Pools, this pool has high Bluefin points and can also enjoy an annualized return of 22%
Elixir Pool: This pool does not give you high Bluefin points, but you can get points from the star project @elixir, killing two birds with one stone
OK, the Bluefin interaction is complete
Let's start Scallop
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🔹Introduction to the largest lending protocol @Scallop_io
Scallop is the largest lending protocol on the SUI chain. It has no problem with security. The yield of lending stablecoins is about 20%, and the yield of holding SUI is more than 30%. The project has already issued coins, but I think the yield is very good and it is suitable for saving money in a bear market.
Scallop launched its “Loyalty Program” on June 10th. Let’s take a look at it in detail.
🔹Lending and borrowing interaction steps
Log in to the official website and select "Simplified Chinese" in the upper right corner
https://app.scallop.io/referral?ref=0x7069b83bfd46c6d1e2a4b42072a185d32de63f95f1984351909332f32e6e169e
🔹Simple deposit and get interest
The annualized returns of SUI, USDC, and USDT are between 15% and 20%, making them a good choice for those who hoard coins
🔹Advanced revolving loan to get interest
The current bonus interest rate is 5% higher than the loan interest rate, which is equivalent to free loans and free money. The current event period is from June 10th to 16th.
Tip: Be aware of liquidation risks!
You can deposit collateral (various tokens) and then borrow it out. You can do this repeatedly, but be careful not to max it out, otherwise there will be a risk of liquidation if the token drops sharply.
🔹Scallop Loyalty Program Interaction
Event time: June 10th - June 14th
Reward Amount: $100,000 in SCA tokens
interactive mode
Buy Scallop's ecological token SCA and participate in lock-up to earn coins (requires more than 10 US dollars)
Click “Buy SCA on Cetus” to exchange SUI for SCA tokens
Pledge more than 10U $SCA, select the lock-up period, and click Confirm at the bottom
You can participate in the SCA token sharing event
I locked it for 7 days to test the waters, you can try it yourself
Tip: SCA lock-up has the risk of token price rising/falling, please control the risk yourself
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SUI Chain's two major ecological interaction demonstrations completed
Later, I will take time to continue exploring other ecosystems.
I hope everyone will continue to appreciate their assets while discovering the fun of Defi.
Airdrops are so good
End of article
