Decentralized Autonomous Organizations (DAOs) represent a transformative approach to governance and organizational management, utilizing blockchain technology to create transparent, democratic, and self-governing entities. By automating decision-making processes and reducing reliance on traditional hierarchical structures, DAOs empower a wide range of community groups, from open source software and charitable organizations to neighborhood associations, to collaboratively manage resources, projects, and initiatives.

Sui's native tools such as zkLogin and Sponsored Transactions, support DAOs through simplifying authentication and covering transaction fees. These features reduce the complexity and cost of participation, making decentralized governance more inclusive and user-friendly, particularly for non-crypto-native users passionate about contributing to DAO initiatives.

What is a DAO?

A DAO is an organization governed by a decentralized group of individuals or entities that bypass the traditional centralized approach to corporate governance. Some DAOs may be governed via smart contracts which are self-executing with the terms of the agreement directly written into code. These smart contracts can define the rules and execute the decisions agreed upon by the members of the DAO. As noted, this decentralized governance model eliminates the need for a central authority, promoting a more democratic and transparent decision-making process.

DAOs can be created for a wide range of purposes, from managing DeFi protocols to coordinating open-source projects and social initiatives. The key feature of a DAO is its ability to operate autonomously, executing decisions based on predefined rules and the collective input of its members.

The importance of DAOs

The traditional model of organizational governance often involves centralized decision-making by a select group of individuals, leading to potential inefficiencies, lack of transparency, and susceptibility to corruption. DAOs address these issues by decentralizing control and enabling community participation. A Sui-based DAO benefits from the following values:

Transparency: Decisions, transactions, and rules within a DAO can be  recorded onchain, providing an immutable and transparent record of activities. Transparency builds trust among members and ensures accountability.

Democracy: DAOs operate on a principle of collective decision-making, where each member typically has a say in the governance process. This democratic approach ensures that the interests of the entire community can be considered, rather than those of a centralized leadership.

Efficiency: By automating processes through smart contracts, DAOs can execute decisions and manage resources more efficiently. Automation reduces the need for intermediaries and minimizes human error.

Inclusion: DAOs provide opportunities for individuals from diverse backgrounds and geographies to participate in governance and decision-making. This inclusivity fosters a more diverse and representative community.

How DAOs work on Sui

The functioning of a DAO can revolve around several key components: smart contracts, tokens, and voting mechanisms. Smart contracts can form the backbone of the DAO, encoding the rules and executing decisions. Tokens are often used to represent membership and voting power within the DAO, allowing members to participate in governance. Members can submit proposals for new initiatives, changes to existing rules, or allocation of resources. These proposals are then subject to a voting process. DAO members use their tokens to vote on proposals. The voting process can vary, with different DAOs implementing various mechanisms such as one-token-one-vote or quadratic voting. The outcome of the vote determines whether a proposal is accepted or rejected. Once a proposal is approved, the smart contracts can automatically execute the decision, whether it involves transferring funds, changing rules, or initiating a new project.

Use cases for DAOs

DAOs have a wide range of applications across different industries and sectors. Many DeFi platforms are governed by DAOs, allowing token holders to vote on changes to the protocol, such as new features, incentive adjustments, and security measures. Open-source projects benefit from DAOs by coordinating and funding software development, enabling developers to collaborate on projects and share the rewards based on their contributions. In social initiatives, DAOs organize and fund charitable projects and community development, ensuring that resources are allocated based on the collective will of the community.

Sui improves DAO UX

User experience (UX) improvements, such as zkLogin and Sponsored Transactions, significantly enhance the onboarding and participation process in DAOs, particularly for new users who are not crypto-native. zkLogin allows users to authenticate securely without exposing their personal information, thus simplifying the login process and ensuring privacy. This makes it easier for individuals interested in specific causes or efforts that a DAO is focused on to join in a user-friendly manner without the need for identity verification steps.

Sponsored Transactions further lower the barriers to entry by allowing DAOs to cover transaction fees for their members, eliminating the financial burden of participation. These tools are especially beneficial for non-crypto-native users who might be deterred by the complexities of setting up a wallet, funding it, and learning about gas fees. 

Together, zkLogin and Sponsored Transactions create a seamless and accessible user experience, encouraging broader engagement and active participation in DAOs. By reducing complexity and costs, Sui’s UX enhancements make decentralized governance more inclusive and user-friendly, thereby accelerating the adoption of new users who are passionate about contributing to the DAO’s mission.

Challenge of regulation

While DAOs offer numerous advantages, they also face challenges that need to be addressed for wider adoption. Legal and regulatory uncertainty is a significant issue, as the legal status of DAOs is still evolving with varying regulations across different jurisdictions. Clearer regulatory frameworks are needed to provide legal recognition and protection for DAOs and their members.

The Wyoming DAO Act, enacted in 2021, set a precedent by providing DAOs with a legal framework that recognizes them as “decentralized autonomous organizations,” giving them the ability to operate as legal entities with limited liability. This groundbreaking legislation has paved the way for other states to follow suit. Utah, Tennessee, Vermont, and Colorado implemented similar regulations, providing legal clarity and support for DAOs within their jurisdictions. Internationally, countries like Malta and Switzerland have established DAO-focused regulations, aiming to create a favorable environment for the growth and innovation of decentralized organizations. These legislative efforts are crucial for the broader adoption and sustainable development of DAOs by offering a secure and legally recognized operational structure

Future governance

DAOs are revolutionizing governance by leveraging blockchain technology to create transparent, democratic, and self-governing entities. By decentralizing decision-making, DAOs empower communities to collaboratively manage resources, ensuring all stakeholders have a voice and promoting a more inclusive system of governance.

Sui enhances DAO functionality with advanced primitives and technologies, simplifying various aspects of decentralized governance. These tools reduce complexity and costs, making participation easier and more accessible. By leveraging Sui’s robust infrastructure, DAOs operate more effectively and inclusively, paving the way for a more user-friendly approach to decentralized governance.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.

Sui's new consensus engine, Mysticeti, has begun a phased rollout on Mainnet. George Danezis, Mysten Labs Co-Founder and Chief Scientist, discusses how its low latency enhances the user experience through highly performant apps.

Mysticeti decreases latency on Sui, making it even faster. Take advantage of the most performant blockchain and get building on Sui today. 

The Sui Foundation is excited to announce the latest recipients of our grant program for the months of May, June, and July. These grants are awarded to innovative projects that are poised to accelerate the growth and integration of the Sui ecosystem. The selected projects span a variety of domains, from advanced analytics and DeFi solutions to luxury digital gifting and game development tools, showcasing the diverse potential of the Sui network.

Belong.net

Belong.net revolutionizes access management for communities and events leveraging the powerful capabilities and scalability present in Sui. Their product provides a user-friendly solution for hospitality, event venues, and organizers to harness the potential of NFTs for token-gating.

Gamifly

The Gamifly platform sits at the intersection of sports and gaming, offering fans exciting tournament-style sports games with midcore depth. Gamifly has built Cricket Fly, a futuristic sci-fly cricket-based game boasting over one million users. 

Gifted.art

Gifted.art transforms luxury digital gifting, providing beautiful gifting experiences for art and tokens leveraging tools that drastically improve the user experience, such as sponsored transactions and account abstraction methods. NFT gift boxes can hold multiple different assets, such as NFTs and tokens, and also utilize zkLogin, allowing gift boxes to be sent via email or social login, facilitating onboarding of non-crypto native users.

Goldsky 

Goldsky is a high-performance Web3 data infrastructure company that supports app and analytics indexing needs. It offers subgraphs and real-time data pipelines for onchain events, delivering this data to its partners. Use cases include explorers, DEXes, and high-frequency trading applications requiring low latency and up-to-date complex data sets.

Pandora Finance

Pandora Finance introduces a decentralized prediction market on Sui, allowing users to make predictions on token prices, future events, commodities, and more with ease.

Polymedia

Polymedia, a cluster of 17 open-source projects built on Sui, showcases the unique features and capabilities of the network. The available code aids other developers in their projects, fostering a collaborative and innovative community.

StreamingFast integration by Thirdwave Labs

Thirdwave Labs stands as the first Unified Growth Platform, offering Web3 projects the analytics and insights necessary to understand their customers and drive growth. By providing essential infrastructure and tools, Thirdwave empowers projects to better connect people with the communities, games, and projects they are passionate about.

Thaw Digital 

Thaw Digital is developing a Price Lock feature for Tradeport, enabling long and short trading of NFTs through options contracts. This allows traders to lock in specific prices for NFTs, enhancing flexibility and providing a greater trading experience.

THORwallet

THORwallet is a pioneering non-custodial DeFi wallet, enabling cross-chain swaps, DeFi savings accounts, and a non-custodial VISA card. By making DeFi accessible to the masses, THORwallet aligns the foundational principles of blockchain technology with features and products they are comfortable using.

Unity and Unreal Engine SDK for Sui by Var Meta

Var Meta's team is developing a Rust SDK for Sui's GameFi ecosystem, offering seamless integration, powerful customization, and robust performance for Unity and Unreal Engine developers. This SDK enhances the development process and supports the growth of Sui's gaming ecosystem.

Sui Move Decompiler by Verichains

Verichains enhances transparency within the Sui ecosystem with the Sui Move Decompiler, which decompiles Move bytecode into readable source code. This tool helps to reduce uncertainty of what outcome will occur when interacting with Sui smart contracts, facilitating greater transparency.

Apply for a Sui grant

The Sui Foundation is proud to support these unique projects through our grant program. Each initiative contributes to the growth and enhancement of the Sui ecosystem, driving innovation and expanding the possibilities within Web3. 

We encourage all projects that provide long-term utility and foster the Sui community's growth to apply for future grants. For more information on the application process and to submit proposals, please visit the Sui Grants Hub.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.

The Sui Foundation is proud to highlight the significant contributions of the Sui community, particularly Suiet, in safeguarding the ecosystem through Sui Guardians. This initiative, developed and maintained by Suiet, tracks and mitigates scam projects on Sui, providing essential security resources for developers and users alike.

Phishing attacks and scams have always been a problem for Internet users and high-value assets in Web3 ecosystems make scams increasingly prevalent. These malicious activities often target unsuspecting users, attempting to deceive them into revealing sensitive information or transferring valuable assets. To combat these threats, Sui Guardians was formed to offer a dedicated repository for tracking and recording phishing websites that target the Sui ecosystem.

Scammers frequently airdrop NFTs into users' wallets, impersonating legitimate projects to lure victims into connecting their wallets to malicious websites. These fraudulent websites then steal the users' assets. It is crucial for users to verify the source and authenticity of any airdropped NFTs and avoid connecting their wallets to unfamiliar domains.

Sui Guardians to the rescue

Sui Guardians addresses this issue by maintaining a comprehensive and continuously updated list of known phishing websites and malicious assets identified through prefix matching. This repository includes:

coin-list.json: A blocklist of coins, with over 160 coins currently listed.

object-list.json: A blocklist of objects, including over 280 NFTs.

domain-list.json: A blocklist of nearly 50,000 domain names.

package-list.json: A blocklist over 200 packages.

These lists are accessible via Suiet’s GitHub repository, and can be used by any app on Sui to protect users in real time. When a user accesses a website through an app utilizing Sui Guardians, the URL is checked against the domain list and if a match is found, the user is warned and redirected to a safe page.

Apps using Sui Guardians can warn users of interactions that are flagged to be associated with scams.

Thanks to Sui Guardians, approximately 2,500 warnings about malicious interactions are delivered to Suiet users each week.

Community involvement

The success of Sui Guardians relies on community participation. The Sui Foundation encourages all builders on Sui to integrate this tool to protect their users from scams. Builders and users are also urged to contribute information about known scams to the repository. Contributions can be submitted through the Sui Guardian Scam Report Form, where detailed information about scams can be provided for review and inclusion.

Sui Guardians not only enhances the security of individual users but also supports the overall integrity of the Sui ecosystem. By providing a robust mechanism to track and block malicious activities, Sui Guardians ensures that users can engage with assets on Sui with greater confidence and safety.Contributions from ecosystem partners like SuiSec and Scallop enhance these security measures, further protecting the community.

Your involvement is key. Actively reporting scams helps maintain the safety and integrity of the Sui ecosystem.

Strengthening Sui together

The Sui Guardians project exemplifies how collaborative efforts within the Sui ecosystem can lead to significant advancements in user security. While the Sui Foundation has contributed to this initiative, it is the proactive measures taken by Suiet and the collective vigilance of the community that make Sui Guardians a critical tool in the fight against scams. For more details and to access the repository, visit Suiet’s GitHub repository.

By integrating and contributing to Sui Guardians, builders and users alike play a vital role in protecting the Sui community from fraudulent activities, ensuring a safer and more trustworthy environment.

Anyone who’s been an avid reader of online news and culture writing in the last decade knows there’s a problem: Traditional web publishing is broken. The ad-based revenue model at the core of online content for the last 20 years has fallen apart, and as ad revenue declined, ads themselves became more intrusive. 

Hydro disrupts this publishing model by rewarding quality over clicks. It gives publishers a new way to monetize their digital content, generating income based on the amount of time users spend on their content, rather than the number of clicks their pages get. 

“We're committed to transforming the internet by aligning the interests of content creators, consumers, and publishers,” said Raghav Reggie Jerath, founder and CEO of Hydro. “We’re creating a new economic engine for the Internet.”

Hydro was originally born as the Gather Network. It moved to the Sui blockchain and launched with a more streamlined vision in March, 2024. When Hydro began operations early this year, it paid publishers in the USDT stablecoin. But it plans to mint its own coin, with a token generation event coming soon.

It’s using Sui technology—including Move contracts, zkLogin, and multisig—to create a more seamless experience for both publishers and consumers engaging with digital content in the future.

A new paradigm for publishing

Hydro provides publishers with an alternative revenue stream using a reward system that monetizes time spent on content. The more time a user spends on a piece of content, the more that publisher makes. Hydro's model means they don’t have to plaster their site with intrusive ads or put all their content behind a subscription-based paywall.

“Publishers earn more as their audience enjoys a richer, uncluttered online experience,” said Jerath.

The Hydro Dashboard lets users manage their sites and view their rewards.

More compelling content and a massively improved user experience are the primary benefits to consumers. However, publishers that want to build up customer loyalty have the ability to opt into Hydro’s community loyalty programs, which enable publishers to give part of the rewards they earn back to their audience.

“We have seen a surge of publishers that have signed up through our dashboard, with a very wide array of web properties, from education platforms to video streaming platforms and a variety of blogs,” said Jerath. “We are seeing publishers coming in from many different countries and regions as well, ranging from Southeast Asia to the United States and Europe.”

This new model not only has the potential to completely shift the focus of online publishers from quantity to quality in general, it also opens up valuable revenue streams for publishers that have historically struggled to compete in the ad space. For example, this could include publishers that serve audiences with low purchasing power (e.g., students or people in developing countries), those whose audience use ad blockers at a disproportionately high rate, or publishers serving NSFW content that mainstream advertisers might be shy about aligning their brands with.

How Hydro works

When publishers sign up with Hydro, they can choose between three tiers: Hydro Online, Hydro Plus, and Hydro Pro. The Hydro Online tier is free and easy for Web2 users to sign up and begin earning rewards. To advance to the Plus and Pro tiers, publishers become more active contributors, purchasing nodes and increasing their ownership stake and potential earnings.

After signing up, publishers can access a unique code, which they then integrate within their platform to activate proof-of-time tracking. This process is similar to using a standard remarketing pixel implementation but without all the personal data collection.

Hydro users add a small script to their sites, allowing integration with the Hydro platform.

From there, whenever a user visits the publisher’s website or app, they become part of the Hydro ecosystem. And the more time they spend on the site or app, the more that publisher earns.

Hydro plans to drive value using a circular token economy. As publishers join at higher tier levels, they purchase nodes, validating transactions on Sui. Then, over time, as supply of circulating tokens decreases and more publishers join the network at these higher tiers, token demand and scarcity increase, not only increasing the value of Hydro tokens but boosting potential revenue for publishers as well.

The Sui digital content revolution

Hydro is leveraging several Sui technologies to bring its vision to life.

“We chose to work with Sui because its technical capabilities and features make it possible for us to translate our vision for the Hydro platform into a viable product,” said Jerath.

Hydro tokens will act as the core utility and reward token used in the Hydro ecosystem. The company is using Sui Move contracts to create and manage Hydro tokens, setting rules that support its ecosystem. In addition, all reward distribution in the platform happens through smart contracts. 

The platform uses zkLogin to create a seamless process for Web2 users getting onboarded to Hydro. zkLogin is especially important for publishers, who are frequently non-technical, making the jump from traditional platforms to Web3. Rather than going through all the steps involved in creating a wallet and acquiring tokens, they can merely create an account on Hydro, emulating their Web2 experience.

Hydro also makes use of Sui's support for multi-signature (multi-sig) technology. This technology allows governance of Hydro-owned smart contracts. 

Using Sui technology, Hydro will continue to grow its network of publishers, creating a better, ad-free experience for consumers and offering a lifeline to content creators that have struggled to keep themselves afloat.

Amazon's AWS extends native support on its Node Runners service to Sui, creating a new, easy path for infrastructure developers to stand up Sui nodes. The Sui Foundation also joined AWS' Web3 Activate Provider Program, a means of supporting builders through tools, resources, content, and credits. Builders making use of Node Runners may be eligible for Activate credits as an incentive to use the service. 

Through this integration, builders on Sui will be able to easily set up and deploy Sui Full nodes within the AWS environment, benefitting from the high availability, scalability, and reliability of AWS’s robust cloud infrastructure. Node Runners simplifies the process of running blockchain nodes, allowing users to easily deploy, scale, manage, and monitor secure blockchain nodes. 

Full nodes on Sui validate onchain activities such as transactions, checkpoints, and epoch changes, as well as store the stake and history to better service client queries. By offloading query servicing from Validator nodes, Validators are able to focus on transaction processing and updates to the nodes when new transactions are completed. 

Although builders can already run Sui Validators and nodes on cloud services, Node Runners provides validated deployment templates specifically tailored for scalable node operations on the AWS cloud. The deployment code is fully open-source and available on GitHub, allowing users to review it before deployment. Integrated with the AWS Well-Architected Framework, Node Runners helps organizations build secure, high-performing, resilient, and efficient node infrastructures. 

AWS Node Runners' Sui support shows how traditional technology services can advance to support Web3, creating a unified front for the next generation of global network infrastructure. 

Over the past few months, significant efforts have been dedicated to developing Sui Bridge, a native bridge for the Sui ecosystem. This initiative enhances the accessibility of Sui for the broader community and improves interoperability with other blockchains. 

Sui Bridge, a critical component in the Sui ecosystem, facilitates the secure and efficient transfer of assets and data between Sui and other blockchain networks. This capability not only broadens reach for apps built on Sui but also offers an avenue to integrate more deeply into the wider blockchain landscape. Interoperability increases growth and adoption of Sui, enabling assets on other networks, such as Ethereum, to safely and easily migrate to Sui.

Sui Bridge background

In the context of the blockchain ecosystem, a bridge is a protocol that enables interaction and communication between independent blockchain networks. Bridges facilitate the transfer of data across the boundaries, allowing users to move their assets from one chain to another and even do more complex operations such as cross-chain message passing. 

Amongst the handful of bridge design choices, Sui Bridge utilizes a lock and mint mechanism, one of the most widely used solutions. As a lock and mint design, Sui Bridge holds Ethereum-native assets within Ethereum smart contracts, whereas it mints or burns Sui asset depending on the direction of the bridge interaction. 

As a native bridge on Sui, Sui Bridge requires no additional trust. The entities that secure the Sui are the same that secure Sui Bridge and the code for Sui Bridge is baked into the Sui framework.

In its current state, Sui Bridge is available on Testnet and supports bridging of tokens such as ETH, WETH, WBTC, and USDT between Ethereum Sepolia and Sui Testnet. After Sui Bridge is released on Mainnet, support for more assets will be prioritized. Later versions of Sui Bridge will add new functionality such as custom cross-chain messaging and integration with other blockchains.

High level architecture

Sui Bridge has four key components: the Sui Bridge committee or node network, the Sui Bridge smart contracts, the Full nodes operating on Ethereum and Sui, and the bridge client. 

The client is the interface between the user and the Sui Bridge infrastructure. It coordinates user bridging actions by submitting correctly formatted transactions and collecting Sui Bridge node signatures as needed. The client uses full nodes to submit transactions on both sides of the bridge. The Sui Bridge nodes also run Ethereum and Sui full nodes to listen for bridging actions and respond to them through the following transaction. While the bridge client is permissionless and can be executed by anyone, many bridge nodes will toggle on bridge clients to ensure the liveness of the network.

Sui Bridge utilizes infrastructure operating on both Ethereum and Sui along with the Sui Bridge node network.

When bridging assets from Ethereum to Sui, the user deposits assets to the Sui Bridge smart contract on Ethereum. The client then observes this transaction and coordinates the bridging process. The Sui Bridge committee operates Ethereum full nodes that also listen for such bridging actions to verify that what the client is requesting is legitimate. 

After verification, the bridging action is completed by minting of bridged assets for the user through the Sui Bridge package on Sui. With such low costs to bridge, Sui Validators currently subsidize the gas fees associated with bridging transactions on Sui and allowing the client to execute the transactions automatically, creating a seamless bridging experience onto Sui. 

When bridging from Sui to Ethereum, the process is similar except users must submit the claiming transaction manually on Ethereum. This transaction includes signature data from the Sui Bridge nodes in the transaction calldata that allows the Ethereum account to redeem the specified assets locked in the bridge contract.

Additionally, all bridging records and approvals are stored in the bridge object onchain. This is feasible in Sui because its storage and gas costs are affordably low. The Sui bridge contract also handles governance actions, which are controlled by the Sui Bridge committee.

Bridge messages

To ensure low gas costs, Sui Bridge constructs messages in a lightweight manner that is easy for the receiving chain to decode. A common messaging format is employed to ensure that each chain can efficiently decode and verify messages and signatures.

Move code example:

public struct BridgeMessage has copy, drop, store { message_type: u8, message_version: u8, seq_num: u64, source_chain: u8, payload: vector<u8> }

Solidity code example:

struct Message { uint8 messageType; uint8 version; uint64 nonce; uint8 chainID; bytes payload; }

These bridge messages are designed with simplicity and efficiency in mind. The structure is minimalistic, containing only essential fields such as message type, version, sequence number, source chain identifier, and payload. This streamlined design reduces complexity and computational overhead, ensuring low gas costs while facilitating fast and reliable cross-chain communication.

Bridge security

Determining a bridge’s trust model is one of the most important design decisions when developing a bridge to support a bustling ecosystem and large flows. A bridge should be both secure and decentralized. While in some bridge designs these attributes may be at odds with each other, developing a native bridge offers the opportunity to leverage the security of Sui to secure Sui Bridge.

The same node operators that secure Sui by running validator nodes manage and maintain the infrastructure that the Sui Bridge runs on. Sui Bridge inherits a decentralized network of node operators that are highly capable of running and securing Sui infrastructure. 

As mentioned above, most Sui Bridge operations occur on Sui and treat Sui as a control panel for the bridge. This benefits from the security that software developed in Move inherits.

Bridge Committee

Sui Bridge is safeguarded by the same set of validations that secures Sui. During the Testnet phase, the committee consists of a subset of Testnet validators. When on Mainnet, the majority if not all active Sui validators will be part of the Bridge Committee. Dynamic management of the committee will be implemented post-Mainnet to enable newer validators joining. Allowing only Sui validators to be a part of the Sui Bridge Committee ensures that the security assumptions, properties, and social consensus are inherited.

To maintain high security and compatibility with other blockchain networks, the Sui Bridge employs the Elliptic Curve Digital Signature Algorithm (ECDSA) for the Bridge Committee signatures. By leveraging ECDSA, Sui Bridge ensures seamless interoperability and secure transaction verification, reinforcing the integrity and trustworthiness of the system.

Signature verification

Sui Bridge utilizes recoverable ECDSA signatures, which allow public key recovery directly from the signature itself. This feature streamlines the verification process by enabling us to retrieve the public key and confirm the authenticity and integrity of the signature without requiring prior knowledge of the public key.

A message is considered valid only when the combined weight of the signatures meets or exceeds a predefined threshold. This threshold mechanism ensures that a sufficient number of authenticated signatures are required to validate a message, thereby enhancing the security and reliability of the system. By implementing this approach, we safeguard against fraudulent activities and ensure that only legitimate transactions are processed.

Code example in Move:

... let mut message_bytes = SUI_MESSAGE_PREFIX; message_bytes.append(message.serialize_message()); let mut threshold = 0; while (i < signature_counts) { let pubkey = ecdsa_k1::secp256k1_ecrecover(&signatures[i], &message_bytes, 0); // check duplicate // and make sure pub key is part of the committee assert!(!seen_pub_key.contains(&pubkey), EDuplicatedSignature); assert!(self.members.contains(&pubkey), EInvalidSignature); // get committee signature weight and check pubkey is part of the committee let member = &self.members[&pubkey]; if (!member.blocklisted) { threshold = threshold + member.voting_power; }; seen_pub_key.insert(pubkey); i = i + 1; }; ...

Code example in Solidity:

function verifySignatures(bytes[] memory signatures, BridgeUtils.Message memory message) external view override { uint32 requiredStake = BridgeUtils.requiredStake(message); uint16 approvalStake; address signer; uint256 bitmap; // Check validity of each signature and aggregate the approval stake for (uint16 i; i < signatures.length; i++) { bytes memory signature = signatures[i]; // recover the signer from the signature (bytes32 r, bytes32 s, uint8 v) = splitSignature(signature); (signer,,) = ECDSA.tryRecover(BridgeUtils.computeHash(message), v, r, s); require(!blocklist[signer], "BridgeCommittee: Signer is blocklisted"); require(committeeStake[signer] > 0, "BridgeCommittee: Signer has no stake"); uint8 index = committeeIndex[signer]; uint256 mask = 1 << index; require(bitmap & mask == 0, "BridgeCommittee: Duplicate signature provided"); bitmap |= mask; approvalStake += committeeStake[signer]; } require(approvalStake >= requiredStake, "BridgeCommittee: Insufficient stake amount"); }

Building interoperability

The Sui native bridge not only provides a secure and efficient means of transferring assets between blockchain networks but also lays the groundwork for more advanced cross-chain interactions. By leveraging its robust trust model, incorporating ECDSA for secure and verifiable transactions, and employing a committee-based signature verification process, Sui Bridge ensures high security and reliability while still remaining flexible.

The scalability and flexibility of the Sui bridge architecture allow for future expansions and integrations with other blockchain networks. As the ecosystem develops, the bridge will support a wider array of assets and abilities, such as custom cross-chain messaging allowing for unique cross-chain interactions.

Sui Bridge represents a significant step forward in the landscape of Sui interoperability, offering a seamless and highly secure solution for cross-chain asset transfers. As Sui Bridge launches on Mainnet, users can look forward to an increasingly robust and versatile bridge that meets current demands while also anticipating future needs.

The results are in: Sui has the largest and fastest-growing Move developer community, according to the latest Electric Capital developer data! Since the last update in January, Sui has experienced explosive developer growth, solidifying its position as a leader in the blockchain industry.

Highlights from the Electric Capital Developer Report

Between the beginning of 2024 and July 1st, Sui has seen a remarkable 219% increase in monthly active developers, sustaining nearly 1,400 throughout the month of June. This significant growth highlights the rising interest and engagement in Move development and the Sui platform.

More than half of Sui's active monthly developers are dedicated single-chain developers, showcasing a strong commitment to building exclusively on Sui.

Sui has seen a steady growth in the number of full-time developers, increasing by over 145%. Additionally, there has been a wave of new developers, with part-time and first-time developers more than doubling in a three-month period. This surge in developer activity highlights the growing interest in building on Sui, showcasing a strong foundation for future innovation and development.

Developer activity is at an all-time high, with a significant rise in code contributions. Total commits have increased by 125% and have reached over 18,000 in the first half of 2024 alone and nearing a total of 5 million commits overall. Additionally, there has been an 84% increase in total repositories, further illustrating growing engagement of the developer community building on Sui.

The Sui Overflow Hackathon impact

A substantial influx of new developers was particularly notable between March and June, largely attributed to the Sui Overflow Hackathon. With over 350 submitted projects, this hackathon not only highlighted the excitement surrounding Sui but also demonstrated the platform’s ability to attract and support innovative builders.

The hackathon showcased the diverse and creative potential of Sui’s developer community. The impressive projects presented during the Sui Overflow demo day demonstrated the platform's capability to support innovative and high-quality development. For a closer look at what developers are building on Sui, check out the day 1 and day 2 Sui Overflow demo day videos.

Moving forward

These remarkable statistics validate what first-time builders frequently express: Sui provides a unique and powerful developer experience. The platform’s robust primitives and features, such as zkLogin and native randomness, and supportive community continue to attract a strong core group of developers who are pushing the boundaries of Move development.

As Sui continues to grow and evolve, it remains committed to fostering an environment where developers can thrive and innovate. The Electric Capital report underscores Sui’s position as a leading blockchain platform and a hub for cutting-edge development.

For a closer look at what developers are building on Sui, check out the projects developed during Sui Overflow and join the growing community that is redefining what’s possible with blockchain technology.

After a year in operation, DeepBook has given Sui DeFi protocols a serious edge, helping to offer their users a superior trading experience with deep liquidity, faster execution, and reduced slippage. Protocols such as Kriya, FlowX, and Hop Aggregator include DeepBook among their liquidity sources, creating vibrant markets for DeFi users.

DeepBook, an open source central limit order book (CLOB), serves as a liquidity source for any Sui DeFi protocol that wants to use it. Its open source smart contracts let protocols easily integrate it while ensuring transparency. Functionally, DeepBook supports both market and limit orders, giving traders a range of options.

"We were the first to provide limit orders natively in our web app via DeepBook," said Aditya Dwivedi, co-founder of Kriya. "DeepBook integrated seamlessly as a liquidity source in our swap router as well, further reducing slippage for traders."

Highly performant

As a native liquidy layer on Sui, DeepBook benefits from Sui's very fast transaction processing and its scalability. Sui's consensus engine allows single owner transactions to bypass traditional consensus, removing a huge hurdle to performance. And its architecture supports scaling, where network infrastructure supporters can add resources as traffic increases.

These technical advantages mean DeFi activities leveraging DeepBook achieve settlement in about 500 milliseconds, with sub-second finality, while gas fees remain consistent and lower than fees on other blockchains. Speed and low overhead are two essential traits for DeFi users. The upcoming deployment of Mysticeti, an upgrade to Sui's consensus engine, will make DeepBook and the network as a whole even more performant.

"On FlowX we've seen how well DeepBook performs in trades involving primary pairs like SUI-USDC and USDC-USDT," said Neville Nguyen, CEO at FlowX Finance. "In most cases, our aggregator will route some of its swap volume through DeepBook."

FlowX's aggregator seamlessly integrates DeepBook among its liquidity sources to enable swaps. 

DeepBook easily parallelizes trading pairs, increasing transaction speed and settlement times. These benefits translate directly to the user experience on protocols that leverage it.

Maximizing market efficiency

Sui's scalability means consistent and low gas fees in general, benefiting transactions on DeepBook. However, DeepBook also saves DeFi users money by offering the lowest trading rates.

"Our goal at Hop is to provide customers with the best rates for all Sui assets," said Bonkman, Founder at Hop Aggregator. "Leveraging DeepBook supports this goal because it often has the best rates, especially during times of market volatility."

Hop Aggregator shows the path it takes to get the best rates, which frequently leverages DeepBook.

As a foundational liquidity layer, DeepBook supports DeFi protocols on Sui by offering a publicly accessible trading pool. Protocols can kickstart their own trading activity by leveraging assets on DeepBook. The common nature of DeepBook means users of one protocol can trade with users of another protocol. Of course, protocols can include DeepBook with other pools as well, making sure users always get the lowest rates.

DeepBook allows for sophisticated trading activities. As a CLOB, it supports limit orders, so a protocol can let its users set a price at which they are willing to sell an asset within a specific timeframe. In this set-it-and-forget-it strategy, if someone is willing to meet the set price of the asset, the trade goes through, whether the user who initially offered it is active or not.

"DeepBook is the base layer for spot liquidity across Sui DeFi, but its modular tech can be used as a plug-and-play open source matching engine for other use cases as well," said Dwivedi. "Kriya Perps combines private DeepBook pools with our proprietary margin engine, offering users CEX-like latency and DEX-like transparency at the same time"

Kriya offers Perps, a DeFi mechanism letting users speculate on the future price of an asset.

Perpetual derivatives, or perps, let users speculate on the future price of an asset through a contract. They can let the contract run for however long they like, typically executing it once the asset price hits a point where the user makes a profit. DeepBook's flexibility in supporting products such as perps make it popular for protocols that want to explore new offerings.

Smart and secure integration

Protocols interested in leveraging DeepBook can refer to its documentation. As an open source liquidity layer and a public good intended to help DeFi protocols on Sui, it is permissionless. The documentation includes smart contracts for such activities as querying the pool, placing orders, and routing swaps.

"Integrating DeepBook on our frontend was a seamless experience," said Bonkman. "The open source DeepBook contracts made this a pleasant experience and a testament to decentralization."

As open source software, the community can help make DeepBook fit its needs through updates. DeepBook is included in the Sui Improvement Proposals (SIPs) program, a process through which builders can submit ideas to make Sui better. Early adopter Kriya raised two SIPs focused on private order book creation and order books for specific pairs, adding support for products it was interested in offering and helping out the entire community in the process.

Protocols using DeepBook also draft on its audited contracts, giving them a leg up in their security implementation. Although every protocol needs to ensure that it protects users, a good part of that work is already complete due to the fact DeepBook has already been subject to a thorough audit of its contracts.

DeepBook secures DeFi's future on Sui

DeepBook adds tremendous value to DeFi protocols on Sui, helping them bootstrap in their early stages and providing an ongoing source of wholesale liquidity for continuing operations. Its sophisticated architecture lets protocols design future-forward product offerings for their users.

"We'll soon be launching tokenized strategies on top of DeepBook, such as delta-neutral market making and basis trading vaults," said Dwivedi. "And with new upgrades to DeepBook core shipping soon, we're excited for what's to come."

While DeepBook has given protocols an essential foundation, continual development means an exciting roadmap. As previously announced, DeepBook will launch its own token, DEEP, providing a means for both institutional and retail traders to become more involved with governance. Mysticeti's launch will give DeepBook even lower latency, putting it on par with traditional financial trading platforms while keeping its costs low. 

New features and user participation will maintain DeepBook's position on the cutting edge of liquidity.

The first cohort of grant recipients from our recently introduced Request for Proposals (RFP) program has been selected. This initiative marks a significant milestone in our ongoing efforts to foster innovation and growth within the Sui ecosystem. The RFP program was designed to address specific needs within the ecosystem, providing targeted support to projects that align with our strategic goals.

Kiosk compatible no-code launchpad for creators and brands

Problem: Sui Kiosk is a powerful tool for developers and creators in establishing parameters around the treatment and transfers of new object types and creations. It is important for creators to ensure their project adheres to the Kiosk standard, otherwise it will likely suffer from compatibility issues with marketplaces and other objects. 

Currently, creators wishing to build a product or application, or simply distribute creations on Sui, must either be a developer or involve another person to handle the technical aspects. There is no convenient way for non-technical individuals to generate assets and launch projects that are Kiosk-compatible. 

Byzantion Inc.

Byzantion Inc., the team behind indexer.xyz, is developing a comprehensive suite of minting infrastructure specifically designed to be compatible with Sui's Kiosk standard. This project ensures that all NFT projects developed through this suite are interoperable with Sui Kiosk, allowing seamless integration with all apps on Sui. This no-code launchpad will empower artists, creators, and brands to easily create onchain assets without technical barriers.

Unlocking onchain loyalty: Smart contracts, white label UX, and advanced features

Problem: Businesses have shown interest in capitalizing on the opportunities for onchain loyalty programs. Unfortunately, many existing loyalty solutions are not built to leverage the entire feature set that building onchain provides. Because there are many different features that loyalty programs may need, this RFP theme accepted three independent proposals to offer ready made solutions for various use cases.

Hashcase

HashCase addresses the shortcomings of existing onchain loyalty platforms by providing a no-code platform for brand managers. This platform allows the creation, launch, and management of NFT collections, accompanied by a custodial wallet solution. Users can log in via mobile or email authentication, engaging with Web3 assets without needing prior Web3 onboarding.

Arden Labs Inc.

Arden Labs Inc. is building a consumer engagement platform composed of two parts: a B2B SaaS platform for businesses and brands to manage their loyalty programs, and a B2C mobile web app for end consumers to track points, earn achievements, and redeem rewards. This dual approach ensures a comprehensive solution for both businesses and their customers.

Mojito Inc.

Mojito Inc. is developing a white label website for loyalty programs, complete with admin dashboards for analytics and a smart contract template tailored to business needs. Loyalty tokens will be transferable to user wallets via Sui Wallet, zkLogin, or other 0Auth wallet providers, providing flexibility and ease of use for end users.

Growing the Sui ecosystem

These projects represent the first step in our RFP program's journey to drive innovation and address specific needs within the Sui ecosystem. We are excited to see how these grant awardees will contribute to the growth and development of our community. 

Whether you are a seasoned developer, a passionate community member, or someone with fresh perspectives there is likely an opportunity in Sui Grants. For those interested in contributing to the Sui ecosystem through future RFPs or other grant opportunities, visit the Sui Grants hub to get started.

Mysten Labs is open-sourcing the Sui Gas Pool to the Sui developer community. This innovative service is designed to sponsor gas payments for transactions on Sui at scale, addressing important needs around user onboarding for apps with high concurrency needs.

Sui's native support for sponsored transactions allows a transaction to use a gas coin owned by a different address than the sender for gas payment. This feature allows a service to subsidize their users' transaction costs, significantly enhancing the onboarding experience for users new to Web3. Being able to get started without funding a wallet significantly enhances the user experience by providing greater flexibility and ease of use. Despite these advantages, app builders often struggle with the complexities of managing gas payments at scale.

The Sui Gas Pool allows apps to easily offer greater user onboarding experiences through sponsorship of gas payments at scale. Additionally, the Sui Gas Pool alleviates the burden that apps handling highly concurrent transactions experience, allowing them to streamline their operations through efficiently managed gas sponsorship.

How a Sui Gas Pool works

The Sui Gas Pool was developed with two primary goals in mind, horizontal scalability and generality. The system can easily scale by adding more instances to meet higher throughput demands, ensuring it can handle increased transaction volumes. It is also designed to be generic, allowing any builder to integrate and operate it as either a standalone service or part of their system.

When initializing a gas pool, it queries all gas coins dedicated to sponsoring transactions owned by the sponsor address then splits them into smaller gas coins with a configurable target initial balance. These gas coins are then added to the gas pool database which manages available gas coins and gas coin reservations. 

Funding the gas pool is straightforward: simply send a large balance gas coin to the sponsor address, and the gas pool will automatically detect and process it. To ensure that funding within the gas pool is maintained, the system periodically checks for any large gas coin owned by the sponsor and then splits it before adding to the gas pool.

The gas pool service operates an RPC server, with permission control managed through a secret bearer token in HTTP requests. The interaction workflow is as follows:

The client sends a reserve_gas request to the gas pool to reserve gas coins that meet the specified gas budget.

The client attaches the gas coins to the transaction and obtains the user's signature on the transaction.

The client sends the user-signed transaction to the gas pool through the execute_transaction request.

The gas pool signs the transaction, sends it to a full node to execute, and releases the gas coins.

Scaling a Sui Gas Pool

The Sui Gas Pool service scales efficiently through several mechanisms. 

Automated gas coin splitting: The automated gas coin splitting creates many smaller gas coin objects, allowing for increased throughput. 

Controlled transaction execution: Conservative waiting heuristics are not needed since the gas pool retains full control over transaction execution, ensuring gas coins are released promptly.

Centralized data persistence: Data persistence is handled through central Redis storage, allowing individual gas pool servers to run without local data persistence requirements or crash recovery. This allows app builders to run as many gas pool servers as needed per sponsor address with minimal overhead.

Multiple sponsors and services: The system can further scale by having multiple sponsors and deploying multiple gas pool services.

Get started

By addressing these needs and implementing a robust, scalable solution, the Sui Gas Pool significantly enhances the user experience and operational efficiency of apps on Sui. Enoki, Mysten Lab's customer experience platform, already uses the Sui Gas Pool  for its sponsored transaction feature. Through its usage in Enoki, the Sui Gas Pool demonstrates its reliability and efficiency in a production environment, highlighting its capability to enhance user experience and operational efficiency for apps on Sui.

Making the Sui Gas Pool component open source ensures the entire Sui community can effectively scale sponsored transactions, supporting new apps with large user bases.

To learn more about the Sui Gas Pool, visit the GitHub repository. Feel free to contact engineers for any questions or problems experienced.

Zero Hash, a leading crypto and stablecoin infrastructure platform that powers companies including Stripe, Shift4, and Franklin Templeton, now includes access to SUI. This move makes the SUI token available to Zero Hash's customers and their end users. 

Offering API and SDK, technical and regulatory infrastructure focused on seamlessly connecting fiat, crypto, and stablecoins, Zero Hash bridges the fiat and onchain economy. Zero Hash allows companies to deploy blockchain technology with minimal friction and unlock new and better mechanisms of value transfer across brokerage, cross-border payments, commerce, tokenization, and payroll.

SUI is now included among the 65 digital assets that Zero Hash supports across 22 blockchains. In addition to enabling customers to offer SUI to its clients, Zero Hash is standing up a new Validator on Sui, helping to support the network infrastructure.

The Sui Indexing Framework offers customizable access to Sui’s onchain data through a powerful data ingestion framework. It enables the collection of both raw onchain data and derived datasets by any relevant software, whether operating onchain or offchain.

Leveraging the Sui Indexing Framework to create customizable data feeds enables developers to effortlessly build software and products that respond to onchain events.

The power of onchain data feeds

Blockchain data structures are designed to ensure the integrity of transactions, which often means they are not optimized for random data access across their entire history. However, customizable data feeds built with the Sui Indexing Framework overcome this limitation, empowering developers to harness onchain data more effectively for real-time analytics and responsive applications. 

Imagine a musician who wants to leverage NFTs to distribute music to their fans. They create a non-transferrable NFT collection where each NFT grants automatic access to an audio file stored in an offchain database upon minting. Utilizing the Sui Indexing Framework, a custom indexer can track the minting transactions associated with these specific NFTs on Sui. This setup enables a separate offchain service to perform actions like transferring audio files, triggered by events monitored through the custom indexer.

The Sui Indexing Framework can be particularly useful for those who want a leaner Full node setup. Without an indexing solution, Full nodes typically retain the history of every transaction. Using the Sui Indexing Framework, a custom indexer can be created which feeds checkpoint data to be stored separate from the Full node. Many apps relying on Full nodes don’t actually need the Full node to actively hold recent checkpoint data if stored elsewhere in real time. This framework allows more efficient infrastructure set ups as Full nodes can be aggressively pruned to create leaner Full nodes.

Additionally, the Sui Indexing Framework is a key piece needed for the development of onchain data dashboards. While a data analytics platform requires many more elements, the Sui Indexing Framework is a foundational piece for data ingestion that these apps rely on.

How it works

Data ingestion with Sui Indexing Framework begins with subscribing to the checkpoint stream from Sui in order to receive the most recent data. The most straightforward approach is to subscribe to the appropriate remote store of checkpoint data, like the ones Mysten Labs provides: 

Testnet - https://checkpoints.testnet.sui.io

Mainnet - https://checkpoints.mainnet.sui.io

To do this, a worker function must be created to process the checkpoint data. The main app then calls the worker function whenever it detects an event in the remote store.

use async_trait::async_trait; use sui_data_ingestion_core::{setup_single_workflow, Worker}; use sui_types::full_checkpoint_content::CheckpointData; struct CustomWorker; #[async_trait] impl Worker for CustomWorker { async fn process_checkpoint(&self, checkpoint: CheckpointData) -> Result<()> { println!( "processing checkpoint {}", checkpoint.checkpoint_summary.sequence_number ); // custom processing logic ... Ok(()) } } #[tokio::main] async fn main() -> Result<()> { let (executor, term_sender) = setup_single_workflow( CustomWorker, "https://checkpoints.mainnet.sui.io".to_string(), 0, /* initial checkpoint number */ 5, /* concurrency */ None, /* extra reader options */ ).await?; executor.await?; Ok(()) }

For those operating their own Full node, they can opt in to create their own checkpoint stream. To enable the checkpoint stream, the following

checkpoint-executor-config

information must be added to the Full node configuration file:

checkpoint-executor-config: data-ingestion-dir: <path to a local directory>

Once the configuration is set, the Full node dumps checkpoint data into a local directory. The indexer daemon listens for checkpoint events and processes the data as new checkpoints arrive. The checkpoint data returned is a

CheckpointData

struct, which current apps are likely already familiar with. With the configuration, point the indexer to the data-ingestion-dir directory and process the data in the same manner as hosted subscriptions.

Sui Indexing Framework supports both pull-based and push-based processing methods, offering developers the flexibility to choose between straightforward implementation or reduced latency. This versatility is crucial for apps that prioritize real-time data access and responsiveness.

Dive deeper

Whether creating apps that respond to real-time blockchain events or general data and infrastructure management, the Sui indexing framework offers the flexibility and reliability needed for such uses. For detailed implementation guidance, explore the Sui Custom Indexer documentation. To see the Sui Indexing Framework in action, explore the specialized indexing pipelines used by Mysten Labs, SuiNS, and the Sui Bridge.

Lacking a Google of Web3, users discover apps through social connections and the always perilous airdrops. Trustworthy directories are few and far between.

The team behind Wave Wallet addresses this challenge, taking traditional Web3 wallet functionality and leveraging it for discoverability, accessibility, and built-in fun. This Telegram-integrated crypto wallet combines the intuitive interface and gamified features needed to give users an elevated experience. The platform emphasizes easy access to blockchain apps.

“We prioritized simplicity, security, and accessibility,” said Dante Hiromi, Chief Product Officer at Wave Wallet. “By using Wave Wallet, users can effortlessly participate in various apps, and engage in all the activities Sui has to offer.”

In Wave Wallet's signature app, Ocean Game, players earn OCEAN tokens, which unlock various events, games, and the other decentralized apps soon to launch in Wave Wallet. The company incentives users with SUI, NFTs, and its upcoming Wave Native Token. 

To make their vision a reality, the Wave Wallet team chose Sui. With Sui, they didn’t have to worry about latency issues with their userbase increasing. Today, Wave Wallet hits peaks of 8.9 million transactions over 24 hours without any issues. And with consistently low gas fees, players aren’t hit with huge transaction costs. In addition, Sui's Coin package makes it easy to design utility tokens for any app.

“We wanted to align with a growing ecosystem that would help enhance our app offerings,” said Hiromi. “With Sui's support, we are able to deliver access to a leading suite of apps, and provide the best, most seamless experience possible for our over 2.7 million users.”

The Wave Wallet ecosystem 

On Wave Wallet's platform, in-game OCEAN tokens enable access to a suite of games and applications. The company encourages users to claim OCEAN tokens and use them to explore the Wave Wallet universe to unlock even more awards. 

“In some projects on different chains, users need to incur significant costs to acquire tokens and cover gas fees to experience apps and receive airdrops,” said Hiromi. “Our approach helps reduce costs for users, while ensuring Wave Wallet maintains a stable userbase for apps.” 

In its current incarnation, users open their Wave Wallet within Telegram. From the wallet, users can open the OCEAN game and continually claim OCEAN tokens. A higher level boat and Aqua Cat, the game's character, earn more OCEAN. 

Wave Wallet offers standard wallet features, such as asset storage and security, but also serves as a launchpad for games and apps.

While the company could have opted for an offchain point system used by many other rival projects, Wave Wallet’s vision required a level of transparency that only blockchain could provide. 

“Our approach combines the transparency of on-chain transactions through the OCEAN token, with the efficiency of offchain Wave Points for airdrops,” said Hiromi. “This hybrid strategy ensures that users experience the security and openness of blockchain technology, while also enjoying the convenience and accessibility of traditional point systems.”

Navigating Web3 hurdles

Building in the Web3 space posed some challenges. Traditional marketing methods don’t always translate to the decentralized landscape, making it harder to acquire users. And many potential users lack familiarity with decentralized applications, blockchain technology, smart contracts, and decentralized finance. 

To empower users to more confidently explore and engage with the Wave Wallet world, the company provides educational resources and tutorials, largely directed at Telegram’s nearly one billion active users. While they may not be experts yet, many of the people that use the secure messaging app are already familiar with the Web3 space. 

“We focused on curating innovative strategies to expand our userbase on Wave Wallet,” said Hiromi. 

One means of growing its userbase involves creating engaging experiences within Wave Wallet. Along with OCEAN Game, it also features Lucky Wheel, letting users wager their OCEAN tokens to spin the wheel and win prizes. Lucky Wheel uses the Drand randomness beacon, ensuring fair gameplay.

Wave Wallet's Battle Game offers more active play than its OCEAN Game, challenging players to accurately target enemy ships.

Most recently, the team launched Battle Game. In this water-borne game, players attempt to sink enemy ships while hoping their opponent doesn't send their ships to the briny depths first. 

And there’s much more on the way to delight users, including new games, apps, and the forthcoming WavePad, the company’s first crypto launchpad.

Over the course of eight weeks, 32 winners emerged from a stellar cohort of 352 project submissions in the Sui Overflow Hackathon. The winners scored first, second, and third place in the hackathon's eight tracks, with two third-place winners in each track. 

As our first global hackathon, Sui Overflow gave builders a chance to show off their innovative ideas and their Move programming skills, building projects that ranged from developer tools to games. The eight specific tracks fell into two broad categories, Technology and Product. Sui Overflow began on April 21, and ran until June 21, with competitors showing off their projects to 47 judges during Demo Days over the weekend of June 15. Our judges included domain experts, investors and established builders.

The Sui community also handed out 10 Community Favorite Awards through online voting. Additional awards included 10 winners from university teams, which puts the focus on student builders, and awards given out by Sui ecosystem projects.

Project submissions came from 79 countries, with top representation from India, China, Nigeria, Vietnam, and the United States. Team members ranged from students to experienced blockchain builders, with many having experience on Solana, Polygon, and EVM-based chains. The judges shortlisted 65 projects, from which the track winners were selected. 

Thanks go to our title sponsor dWallet, track sponsors Comma3 Ventures, Wormhole, and AngelHack, and our prize and award sponsors GSR, Supra, Alibaba Cloud, ZettaBlock, Movebit, e^win, Scallop, Pyth, Ryze Labs, and NAVI. 

Consumer and Mobile

These projects leverage Sui's unique features to simplify blockchain usage in consumer and mobile apps.

First place

Pandora Finance

This decentralized prediction market incentivizes users to vote on the outcomes of future events. The team intends to launch new games and experiences on the platform.

Second place

stream.gift

Focusing on Twitch streamers, stream.gift uses Sui as a payment mechanism, letting audience members donate to their favorite streamers, eliminating the middleman costs of existing services.

Third place - Team 1

AdToken

AdToken, a transparent decentralized advertising solution for advertisers and affiliates, leverages Sui’s object model to enable real-time and fast confirmations for transactions and campaign management.

Third place - Team 2

Wave Wallet

A Telegram-based crypto wallet built for Sui, Wave combines wallet functionality with powerful investment tools, prioritizing convenience, security, and user-centered design.

DeFi

Apps in this category use Sui's unique network architecture and primitives to facilitate DeFi.

First place

Hop Aggregator

As a swap platform, Hop Aggregator emphasizes performance, with better routes and faster speeds than other trade platforms. 

Second place

Aeon

Using custody as a starting point, Aeon envisions a go-to platform for digital asset services, integrating trade execution and advanced asset management solutions directly into its frontend.

Third place - Team 1

Shio

This auction platform focuses on maximal extractable value, a means of ordering transaction blocks, making this mechanism available to the Sui community.

Third place - Team 2

Hakifi

A decentralized hedging protocol leveraging blockchain technology to mitigate financial risks, Hakifi serves as an insurance companion, letting users freely select assets and providing recommendations for suitable insurance coverage. 

Gaming

This track consists of games and gaming-related tools that showcase what is possible on Sui.

First place

AresRPG

This 3D open-world MMORPG utilizes Sui as its sole database, and seamlessly onboards Web2 users by delivering a gaming experience comparable to top-tier Web2 games, while integrating Web3 technology. 

Second place

Wagmi Kitchen

Wagmi Kitchen, a fully onchain cooking-themed board game, lets players place wagers as they collect ingredients and attempt to serve as many meals as possible.

Third place - Team 1

Infinite Seas

As an MMO, players of Infinite Seas trade, battle, and conduct diplomacy with their fellows, on a platform that fosters microtransactions and player-to-player transactions.

Third place - Team 2

Shall We Move

Shall We Move brings the classic games of two and three card poker to Sui. All game functionalities, including card dealing, shuffling, and hiding, are executed onchain using encryption and randomness to ensure fairness and transparency.

Infrastructure and Tools

These new tools and apps equip builders and optimize development on Sui.

First place

Kraken

The Kraken project provides a versatile ecosystem of apps with native and smart-contract based multisig mechanisms at its center, tailored for both teams and individuals on Sui.

Second place

SuiGPT

SuiGPT uses a Large Language Model to decompile and beautify Sui contracts. Even if users have concerns about the contracts, they can get answers by asking the SuiGPT Chatbot and posting on community forums.

Third place - Team 1

BitsLab IDE

An out-of-the-box, configuration-free online development environment, BitsLab supports end-to-end development of Move smart contracts. It is powerful, user-friendly, includes built-in tutorials, and supports plugins.

Third place - Team 2

SuiPass

The SuiPass protocol combines credentials and security services for the Web3 ecosystem, serving as an all-in-one onchain passport to standardize data for universal, interoperable access. 

Advanced Move Features

These projects, which include tools, libraries, and apps, demonstrate expertise using Move on Sui and contributions to developer experience.

First place

Promise

Promise is a quiz platform leveraging zero-knowledge proofs to create an engaging experience which combats ad fatigue through meaningful ad engagement.

Second place

Su Protocol

The Su Protocol is a capital-efficient DeFi protocol that does not depend on over-collateralization to ensure the system’s solvency, instead transferring the volatility from risk-averse users to risk-seeking bulls. 

Third place - Team 1

Sui Simulator

As a tool that allows developers to easily read and call Sui smart contracts without the use of a CLI, Sui Simulator creates a better and more efficient developer experience for those building on Sui.

Third place - Team 2

Sui Metadata

Sui Metadata, a Move library, offers a set of tools to store, retrieve, and manage any type of primitive data as chunks in a vector without dependencies or any Struct defined.

Multichain

Focused on the Wormhole protocol, these projects unlock the potential of blockchain interoperability.

First place

Sui NTT

The Wormhole Native Token Transfer (NTT) protocol provides fungible and non-fungible token transfer functionality across all wormhole supported chains. Sui NTT is the Sui implementation of Wormhole NTT.

Second place

Wormhole Kit

As a React library developed for apps to easily plug into Wormhole bridge, Wormhole-kit offers a simple path for apps to bridge assets cross-chain.

Third place - Team 1

SuiWalletBot

SuiWalletBot is a Telegram-bot allowing users to manage their Sui wallet to execute multichain token transfers using the Wormhole SDK as well as manage their liquidity pool positions in Sui DeFi apps from the comfort of Telegram. 

Third place - Team 2

Multichain Meme Creator

The Multichain Meme Creator platform allows anyone to create and swap memes across multiple networks with no developer experience required. 

Randomness

The randomness track winners show the many ways randomness and cryptographic primitives on Sui contribute to security and apps, and includes useful developer tools.

First place

Sui dApp Starter

As a full-stack project scaffold, Sui dApp Starter makes it easy to start projects leveraging randomness on Sui, offering tools for network management and transaction monitoring.

Second place

BioWallet

BioWallet creates secure hardware wallets within existing devices leveraging biometric login. By eliminating the need for traditional seed phrase management while adding multisig and WebAuthn features, BioWallet offers seamless Sui onboarding. 

Third place - Team 1

SuiAutochess

Built as an onchain auto-battle chess game, SuiAutochess leverages Sui's native randomness, creating a fair, transparent, and secure gaming experience. 

Third place - Team 2

HexCapsule

Timelock encryption is a technique that HexCapsule brings to Sui. Using Drand to encrypt data and Move code generate private keys used for decryption at a later time, this feature is useful for apps which need to enforce time-based requirements.

zkLogin

Leveraging zkLogin, these apps unlock seamless user experiences.

First place

PinataBot

Leveraging zkLogin within a Telegram bot app, Pinata Bot offers a user-friendly avenue for trading assets on Sui, bridging Web3 utility to messenger apps that people use every day.

Second place

LiquidLink

LiquidLink aspires to become a universal social profile for Sui enabling community growth and engagement with features like leaderboard scores and referral programs.

Third place - Team 1

Webauth on Sui

Pairing WebAuthn technology with zkLogin offers greater security of ephemeral keypairs, which are used in zkLogin. Webauth on Sui showcases the power of zkLogin with Webauth and is working to integrate to offer better zkLogin experiences.

Third place - Team 2

Aalps Protocol

Aalps is a “Real-time Reddit for Commodities,” connecting global industry workers with traders to efficiently share commodity market data. Using zkLogin and friend.tech-inspired mechanisms for supplier verification and data access control, Aalps offers a transparent platform for exchanging insights.

Community Favorite Award

From the short list of 65 projects, the Sui community voted through an onchain app for 10 Community Favorite Awards. With 29,545 votes tallied, 10 projects ranging from DeFi apps to useful developer tools gained the top spots.

AdToken

FoMoney

Hakifi 

Mrc20protocol 

Mystic Tarot

Orbital

Promise

Sui Simulator

SuiSec Toolkit

WeCastle

University Award Winners

The University Awards put the spotlight on student teams competing in the Sui Overflow Hackathon. These teams represent a new generation of builders who bring a unique focus on problem solving.

Aalps Protocol

Fren Suipport

LiquidLink

Multichain Meme Creator

Orbital

stream.gift

Sui Simulator

SuiGPT

The Wanderer

WeCastle

Ecosystem Prize Winners

We are announcing the Ecosystem Prize Winners on behalf of the specific Sui projects that awarded them. These projects are helping elevate Sui by nurturing new builders as part of the Sui Overflow Hackathon. Any questions about these specific awards need to be addressed to the individual ecosystem projects that awarded them.

Aftermath Finance

1st place

AresRPG

2nd place 

DoubleUp

BlockEden

1st place

Orbital

2nd place

Liquidity Garden

3rd place - Team 1

BioWallet

3rd place - Team 2

Cocktail OTC market

3rd place - Team 3

Fistack

3rd place - Team 4

SharkyTheSuiBot

3rd place - Team 5

Zomdev

BlockVision

1st place

Fistack

2nd place

stream.gift

3rd place

DegenHive

4th place

Suidae

Bucket Protocol

1st place

FoMoney

2nd place

Nui Finance

3rd place

SuiAutochess

4th place

Mole

Participation award - Team 1

LiquidLink

Participation award - Team 2

Strater

Participation award - Team 3

DoubleUp

Cetus

1st place

Bubble.fund

dWallet

1st place

Aeon

2nd place

Snotra Protocol

3rd place

Crux Network

FlowX Finance

1st place

Nimbus

Fud The Pug

1st place - Team 1

DoubleUp

1st place - Team 2

Kriya Credit

2nd place

Betmeme

Kriya

1st place

Kriya Credit

2nd place

SuiMate

3rd place

CLMM and DeepBook Market Making Vaulta

4th place

KriyaDexBot

5th place

higan.fun

NAVI

1st place

Flashloan_Indexer

2nd place

NAVI arbitrage Bot

3rd place

staking-strategy

Scallop

1st place

Mrc20protocol 

Space and Time

1st place

Sui Community Engagement Platform

ZettaBlock

1st place

Suirang

2nd place

Sui Assistant

3rd place

ZKNsight

4th place

SharkyTheSuiBot

We're one percent done

We offer our profuse gratitude to everyone who participated in our first Sui Overflow Hackathon and recognize the potential of creating user value from Sui's technology. The judges had a wealth of great projects to select from, all of which have a bright future ahead on Sui.

As builders get started on developing and launching their projects, Sui itself continues to advance, its technology becoming even more performant and offering exciting new features. Sui has so much potential and we've just gotten started.

And stay tuned for the next Sui hackathon!

The Sui Bridge incentivized testnet phase will conclude on July 8th, marking the final opportunity for participation. Community feedback and thorough testing during this critical phase is crucial in ensuring the smooth functionality of the Sui Bridge upon its mainnet launch.

To make sure that your actions are eligible for rewards, ensure that your are adhering to the following requirements: 

Complete the full bridge cycle by transferring from Ethereum to Sui and from Sui back to Ethereum.

Initiate bridging transactions only through the official Sui Bridge frontend.

For those providing feedback, make sure your Sui address is associated with your feedback on Discord.

Major Frontend Update Now Live

Today a major update has been pushed to the Sui Bridge frontend. This update improves the transaction history tab by enabling faster loading through integration with the Bridge Indexer. As an open-source and permissionless software, the Bridge Indexer empowers anyone to collect comprehensive bridge data and build customizable dashboards. This enhancement not only improves user experience but also strengthens the transparency and accessibility of the Sui Bridge.

Special Testing Scenario

Starting today, we will initiate a special testing scenario to simulate scenarios where users may experience delays in claiming their assets. During this period, the bridge limit will be intentionally reduced, requiring users to wait and manually claim their tokens upon reset. While such occurrences will be rare on mainnet, it is essential to rigorously test these scenarios now to preemptively address any operational challenges. Keep a lookout on Discord for more information.

Stay Informed

For those interested in participating in the testnet incentive program, check out our previous blog article which covers the details of the program and how to participate. Rewards from the Sui Bridge incentive program will be distributed to participants after the incentive program closes. Keep an eye out for more information in the coming weeks on when distribution will occur.

Community efforts in testing and providing feedback are instrumental in shaping the future of the Sui Bridge. We’d like to thank everyone who is participating in creating a stronger Sui Bridge.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.

Closed-Loop Tokens (CLTs) allow for the creation of tokens on Sui that have defined rules and restrictions, enabling the creation of closed token systems. Unlike Sui’s Coin standard, which allows unrestricted usage and transfer, CLTs offer a more controlled and customizable approach.

In Sui, the Coin standard can be used to create flexible, unrestricted, and universally recognized coins akin to cash that can be used anywhere by anyone. While this is advantageous for broad, general-use scenarios, it fails to meet the demands of use cases that require strict control over how, where, and by whom tokens are used. 

CLTs are particularly valuable for apps using tokens for specifically defined purposes, such as rewarding loyal customers, complying with jurisdictional regulations, or creating a closed in-game economy.

The need for Closed-Loop Tokens

While the unrestricted nature of the Sui Coin standard proves extremely valuable for many uses, the free-flowing nature of a coin can actually be a limitation. These types of assets can function like cash; they are freely transferable, wrappable, and can be recognized and accepted in any app. 

This open-loop system is beneficial for many scenarios but falls short in apps requiring specific constraints. For instance, certain services might need tokens that can only be used for a specific purpose, by authorized accounts which have completed KYC checks, or in-game currency which can only be spent within specified marketplaces.

The need for such specific constraints arises in various scenarios. Loyalty programs, in-game currencies, and restricted marketplaces often work better in controlled environments where tokens cannot be traded or used outside their intended context. Regulatory compliance also demands restrictions on token usage to ensure only verified or authorized entities can hold and use these tokens. With the implementation of these controls, the potential for misuse, fraud, and regulatory breaches can be mitigated, which is essential in creating an economic system that can enforce specific rules and restrictions.

Opportunities unlocked by Closed-Loop Tokens

CLTs empower builders with a higher degree of control and customization over how tokens are used and transferred within their apps. Using the CLT standard in the Sui framework, developers can:

Restrict token usage to authorized apps.

Set up custom policies for transfers, spends, and conversions.

Add arbitrary restrictions on token transfers between user addresses, spending tokens, and token usage in smart contracts.

These capabilities open up a wide range of possibilities. For example, tokens can be designed to prevent onchain trading, making them ideal for loyalty programs or in-game currencies where speculation is undesirable. They can also ensure compliance with regulatory requirements by restricting usage to verified accounts or specific services.

How Closed-Loop Tokens work

Builders implement CLTs through the sui::token module, which distinguishes them from traditional coins by their lack of the store ability. This means CLTs cannot be wrapped, stored as dynamic fields, or freely transferred unless a custom policy allows it. They can only be owned by an account and not stored in an app, but they can be spent. The authorization mechanism for CLTs is called an ActionRequest, allowing the token owner to specify which actions (transfers, spends, conversions) are permitted and enforceable through predefined rules.

A TokenPolicy is a shared object that the token creator can generate using the TreasuryCap, specifying the conditions for token transfers, spends, or conversions. These policies are enforced by programmable rules within the TokenPolicy, implemented as separate Move modules, allowing for modular and reusable policy definitions. To address token storage issues, CLTs utilize a spend method, where spent tokens can either be burned directly or delivered to the TokenPolicy as spent_balance. This balance cannot be reused and can only be burned, ensuring strict control over token lifecycle and usage.

Closing the loop

Closed-Loop Tokens offer a level of control and customization not possible with the Sui Coin standard or typical token standards found elsewhere on other blockchain protocols. By enabling developers to impose specific rules and restrictions on token usage, CLTs open up new possibilities for secure, compliant, and specialized apps. The adoption and implementation of CLTs will play a crucial role in shaping the future of DeFi and digital assets.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.

During Sui Basecamp the original contributors to the Sui blockchain demonstrated their technical chops under pressure, answering questions about Sui while taking laps on the Oracle Red Bull Racing driving simulator. 

Evan Cheng, aka Revvin' Evan, maintains his driving line while explaining that Mysticeti sets the record for blockchain finality. Sam Blackshear, aka Quickmove Quinn, succinctly explains dynamic objects on Sui while going wide in a turn. Kostas Chalkias, aka Byte Racer, calls Sui the most innovative blockchain in the world, keeping super cool in a hairpin. And Adeniyi Abiodun, aka Non-Fungible Fury, lays out how closed loop tokens let builders set the rules for assets as he takes a turn fast-in and fast-out.

Learn everything about Sui and demonstrate the same killer focus under pressure as Evan, Sam, Kostas, and Adeniyi.

Copper, a digital asset infrastructure company, will offer custody and staking solutions for Sui. The move provides a gateway for institutional and enterprise users who want to access SUI.

Copper's services, which focus on institutional investors, bridge the gap between traditional finance and digital assets. The company offers secure digital asset custody, offchain settlement services for cryptocurrencies, staking, and a DeFi stack, among other products. Founded in 2018, Copper provides custody services for over 50 blockchains and sees over $50 billion in monthly trading volume.

As a custodian for SUI, Copper now offers customers an infrastructure-integrated wallet service for cryptocurrency storage that seamlessly enables transactions between its end users and those of exchanges. 

The company is also in the process of expanding its SUI services to include staking and DeFi support. 

Copper's support for SUI gives its customers a streamlined path to engage with the most performant blockchain, which has seen extraordinary DeFi growth over the last year.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.

SuiNS Subnames, a powerful extension of the Sui Name Service, was recently released along with the new naming convention. Subnames allow users to create additional, customized identities under a primary SuiNS name—for no additional cost. A user @xi can create subnames such as gaming@xi or lending@xi, enhancing personal organization and supporting hierarchical structures for groups and organizations.

This development is significant for both individuals and businesses. With subnames, companies, DAOs, and other organizations can issue branded account names for their users or employees, providing onchain identities that improve user experience with Sui's powerful features and utilities. Subnames are cost effective as they do not need to be purchased separately and only require gas to be created. Subnames can also be nested, creating subnames within subnames, for even deeper organizational structures.

SuiNS Subnames allow users to organize independent accounts under one parent SuiNS name. What are SuiNS Subnames?

SuiNS Subnames introduce an innovative layer to the Sui Name Service by enabling users to generate multiple personalized identities under a single primary SuiNS name. For instance, a business can hold its primary SuiNS name and assign subnames to employees or departments, enhancing brand consistency and identity management across different levels within the organization.

Subnames can also be nested to create complex identity structures. For example, a gaming guild could have subnames from the game SuiNS identity to represent its group, such as guild@game. From there users can create their own subnames that represent their accounts within the guild, such as user.guild@game. Users can then create different characters or game sessions that are nested within their account subname, such as character.user.guild@game. This nesting capability allows for unique and powerful identity hierarchies. 

Organizations can create hierarchical structures using SuiNS, perfect for establishing teams. Why subnames matter

While SuiNS names allow individuals to establish their unique onchain identity, subnames take this benefit a step further by enabling the representation of groups, organizations, and intricate hierarchies. This feature is particularly valuable for companies, DAOs, and other entities looking to issue vanity names or usernames that reflect their onchain presence simply and effectively.

Subnames enable businesses to maintain a cohesive onchain brand identity. A Web3 company like Mysten Labs, for instance, can issue @mystenlabs subdomains to its employees, akin to company email addresses. Another use for subnames is for an organization to create department-specific subnames like finance@company or hr@company, which can be used for managing finances or keeping records onchain. 

Subnames tap into the growing demand for customized digital identities by individuals, making onchain interactions more human and relatable. For organizations, subnames allow for detailed categorization and management of entities within the organization while also offering unique avenues to strengthen brand presence onchain.

The mechanics of subnames

Subnames offer a robust, user-friendly, and efficient solution for managing digital identities. Platforms can generate an unlimited number of subdomains, without any costs aside from the gas fees required for the transaction, making this a highly scalable option for expanding organizations and communities. Each subdomain is secured and verified through NFT ownership, providing trustworthy control over digital identities.

There are two types of subnames based on ownership. Node subnames grant the subname holder complete control via an ownership NFT. The parent SuiNS name can set specific guidelines for these subnames at the time of their creation, ensuring these rules are consistently enforced. On the other hand, leaf subnames represent the subname without transferring full control from the parent SuiNS name. This flexibility allows organizations to modify guidelines, reclaim, and reassign subnames as necessary, maintaining optimal control and organization.

How-to Guide

For those without a SuiNS name, review how to obtain and register a SuiNS name to an address. 

From the SuiNS website, select ‘View names you own’ from the dropdown menu in the upper-right corner.

On the SuiNS name that you want to create a subname, click the three-dots menu and select ‘Create Subname’.

Here you can specify the expiration date and permissions of the subname.

After selecting ‘Create Subname’, you will need to submit a transaction which generates the subname. Once complete, the newly created subname will be visible from the ‘Subnames’ tab from your SuiNS account.

Enhanced identity

The introduction of SuiNS Subnames marks a significant milestone in the evolution of digital identity management. By offering a flexible, scalable, and user-friendly way to create hierarchical identities, SuiNS not only addresses the current needs of the individuals within the community but also paves the way for innovations around identities within organizations.

As the Sui ecosystem continues to grow, the importance of maintaining consistent and recognizable identities will only increase, making subnames an indispensable tool for users and organizations alike. SuiNS Subnames offer a new level of personalization and control in Web3 identity, allowing users and organizations to embrace the future of onchain identity with SuiNS.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.