One week after the Sui Network mainnet was launched, crypto researcher 2Lambroz experienced all the DeFi projects launched on the mainnet, sorted and summarized the relevant information of these dApps in a table, and came to the following conclusions:
I am not very optimistic about Sui at the moment because most of the current projects are still in the stage of raising funds and issuing tokens.
As a user, there is nothing for me to do and nothing worth mining.
- Due to low transaction volume, stablecoin mining yields are not high
- Sui/USDT is not attractive
There is nothing “new” in the Sui ecosystem yet, but as a star public chain, it is still worthy of continued attention.
Sui on-chain dApp experience:
Cetus Protocol
Category: Swap
Status: Mainnet launched, seed round financing completed, IDO in progress
Cetus is currently the DEX with the highest TVL on the Sui mainnet ($15 million), with single-coin staking and LP mining functions. It was selected for Sui's second round of developer funding projects, and its seed round was invested by OKX Ventures, KuCoin Ventures, NGC Ventures, Animoca Ventures, etc.
Cetus is the most hyped project with an IDO on its official website from May 8 to 10 with a valuation of about $50 million. At the time of writing, the IDO is 3,900% oversubscribed with 7 hours to go.
Category: Swap
Status: Mainnet launched, seed round financing completed
Turbos Finance is a token trading platform with centralized liquidity supported by Jump Crypto and Mysten Labs. Its current TVL exceeds US$4 million, and no tokens have been issued yet.
Typus Finance
Category: Options
Status: On-line mainnet
Typus Finance combines treasury, lending, and derivatives to create an options market for long-tail assets. This approach not only improves LP returns, but also deepens liquidity, making all participants a win-win situation.
SuiPad
Category: Launchpad
Status: Mainnet launched, IDO completed
SuiPad is a Launchpad platform on Sui, claiming to be the official partner of Sui developer Mysten Labs (I have not verified it). The project announced at the end of April that it had completed a $1.15 million financing round invested by NGC Ventures, GBV Capital, Cogitent Ventures, PANONY, etc.
At present, SuiPad’s token $SUIP has completed IDO on the official website. It is worth mentioning that the public round was sold out within 55 seconds.
Mole DeFi
Category: Liquidity Mining
Status: On-line mainnet
DeFi liquidity mining protocol on Aptos + Sui.
Kriya DEX
Category: Swap, Perpetual Contract
Status: On-line mainnet
Kriya is a DEX that integrates spot trading, perpetual contracts, options, and OTC trading. However, only spot trading is currently available on the Sui mainnet, and other functions are still under testing. The TVL of the protocol is only about $40,000.
GiroSwap
Category: Swap, NFT-Fi
Status: Half-online?
Although NFT-Fi, token swap, and launchpad features have been released, there is no liquidity available for trading.
MovEX
Category: DEX
Status: Testnet
The highlights are AMM (V2 + centralized liquidity) and Order book Dex invested by Mysten Labs, and the protocol is worth paying close attention to.
PolyMedia
Category: Social
Status: On-line mainnet
The decentralized chat platform on Sui is worth exploring in depth.
Bucket Protocol
Category: Stablecoin, Lending
Status: Testnet
Bucket Protocol is a stablecoin/lending protocol built on Sui. Although it has not yet launched the mainnet, they won the second place in Sui demo day. It is worth paying attention to in the long term.
FlowX
Category: Swap
Status: Testnet
This is a DEX with single-coin staking and LP mining, and the token economics have not yet been released in its official website documentation.
However, I really like the UI and smoothness of their platform.
Flame Finance
Category: Swap, Launchpad
Status: Testnet
Flame Finance is a DEX built on Sui. There are three points worth noting in the token economics:
5%: Private or public sales
6.5%: Airdropped to community builders and users
65.8%: Liquidity Mining
Ryu Finance
Category: Swap, Launchpad, GameFi
Status: Testnet
Ryu Finance is a DEX that integrates spot trading and Launchpad functions. It currently launches GameFi activities based on trading and liquidity mining.
Wisp Swap
Category: Swap, Prediction Market
Status: Testnet
Wisp Swap has not yet been launched on the mainnet, and has launched two functions: spot trading and prediction market. According to the white paper, it will also launch functions such as lending, Launchpad, and staking mining in the future.
In addition, after the mainnet is launched in the future, Wisp Swap will airdrop tokens to users who trade on the testnet.
Sui DEX
Categories: Swap, NFT-Fi, Launchpad
Status: Testnet
Sui DEX currently only has the spot trading function, but will also launch the NFT market and Launchpad in the future.
Interest Protocol
Category: Swap
Status: Testnet
Interest Protocol is a DEX with single-coin staking and LP mining. Highlights of the token economics:
2.5%: Airdrop
70%: Liquidity Mining
AftermathFi
Category: Swap
Status: Testnet
The official claim is "On-chain CEX". But it looks like a DEX with single-coin staking and LP mining.
Jujube Finance
Category: Swap
Status: Testnet
Essentially a DEX, but it looks like it’s going to launch some GameFi to allow users to earn additional benefits.
Sui Swap
Category: Swap
Status: Testnet
A DEX with single-coin staking and LP mining.
Belaunch
Category: launchpad
Status: Testnet
A launchpad built on Sui.
Scale Protocol
Category: Perpetual Contract
Status: Testnet
A perpetual contract platform based on the P2P model.
ABEx Finance
Category: Perpetual Contract
Status: Testnet
A decentralized derivatives protocol built on Sui.
Patronus Fi
Category: Loans
Status: dApp to be released soon
A lending market built on Aptos and Sui, but not yet live on the Sui testnet.
Navi Protocol
Category: Loans
Status: dApp to be released soon
A platform that combines lending and leveraged mining. It does not yet have token economics. You can currently join the waiting list on the official website.
TrustLend
Category: Loans
Status: dApp to be released soon
It is believed that this is a decentralized lending platform, but no official documentation has been established, so there is no more information.
Scallop
Category: Swap, Lending
Status: Testnet
A DEX with spot trading and lending capabilities built on both the Solana and Sui networks.
SweeFi
Category: Yield Aggregator (Single/Dual Currency Compounding)
Status: dApp to be released soon
SweeFi’s goal is to enable everyone to benefit from market making while improving the liquidity of the Sui ecosystem and providing greater efficiency and stability for DeFi.
Fenture Finance
Category: Yield Aggregator
Status: dApp to be released soon
AI-powered DeFi asset management tool built on Aptos and Sui.
Smoove Finance
Category: LSD, Vault
Status: dApp to be released soon
SMOOVE is a decentralized LSD platform with an integrated DeFi vault, which aims to enhance the liquidity of staked assets, maximize returns, and improve the security of the network by optimizing delegation indicators.
risk warning:
According to the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation" issued by the Central Bank and other departments, the content of this article is for information sharing only and does not promote or endorse any business or investment activities. Readers are requested to strictly abide by the laws and regulations of their region and not participate in any illegal financial activities.
C3 Tip: The views, thoughts and opinions expressed here are the author's own and do not constitute investment advice or recommendations. Every investment and transaction involves risk.
There are three levels of investment: seeing, understanding, and holding. There are also three levels of entrepreneurship: thinking of, doing, and achieving. Each level seems to be not much different in terms of the literal meaning, but in fact, there is a huge difference. Each level can eliminate more than 90% of people.