Sui is a permissionless Layer 1 blockchain designed from the ground up, enabling creators and developers to build experiences that cater to the next billion users in web3. Sui is horizontally scalable, supports a wide range of application development, and boasts unmatched speed and low costs.
Distinctive SUI
The company behind Sui, Mysten Labs, was founded by several senior members from the Facebook Libra project, and its CEO Evan Cheng has a rich background in major tech companies. This background gives Sui unique qualities in both technology and strategy.
Sui's first notable characteristic is its focus on the gaming sector. Co-founder Adeniyi stated in an interview that Sui is committed to solving ownership issues in games and has attracted 75 publishers, including the three major listed companies in South Korea, to develop applications on Sui. This strategy not only attracts a large number of game developers but also lays a solid foundation for Sui's leading position in the gaming field.
Another feature of Sui is its emphasis on compliance. Unlike the decentralized and permissionless culture generally advocated by Web3, Sui shows extremely high requirements in compliance. The internal compliance process of Mysten Labs is strict, even similar to that of large Web2 companies. This emphasis on compliance is reflected not only in the project team's grants (using USD rather than Sui tokens) but also in the brand isolation requirements between the projects receiving grants and Sui's official entity. This strategy has allowed Sui to stand out in the competition with other public chains and provides more possibilities for collaboration with Web2 large institutions.
Sui's third characteristic is its clear strategic direction. Unlike many public chains that lack a clear direction or frequently change strategies, Sui remains focused on its established goals: collaborating with large Web2 institutions to achieve large-scale applications. To achieve this goal, Sui is very cautious in avoiding actions that could be seen as blemishes to ensure that its collaboration opportunities with traditional large institutions are not affected.
Sui's differentiated development
An interesting phenomenon is also presented in Sui's ecosystem: while Sui is committed to compliance in the U.S. and deep cooperation with globally renowned gaming companies, most top DeFi projects are predominantly led by Chinese entrepreneurs. This may be related to Sui's clear development direction and the advantages of Chinese entrepreneurs in speed and efficiency.
Additionally, Sui has shown its unique charm in competing with other Move-based public chains. Compared to competitors like Aptos, Sui focuses more on the updates in technology and product functionality rather than just activity aspects. This clear, focused, and straightforward strategic direction has brought many different changes to the Sui ecosystem.
Since September 2024, the explosive growth of Sui's token price and TVL has attracted widespread attention from professionals in the crypto industry. In just one month, Sui's TVL surged from $600 million to $1 billion, nearly doubling; meanwhile, the token price increased from $0.8 to over $2 in just over a month, with the highest increase approaching three times.
Behind this rapid growth lies not only Sui's unique advantages and market demand but also the speculative behavior of some investors. However, in the long run, Sui's sustained growth will depend on its clear strategic direction and continuous technological innovation.$SUI
