A public blockchain I see a lot of potential in: $SUI 💧
At this Singapore event, #TOKEN2049 , SUI had booked an entire floor to showcase projects across its ecosystem.
Booking an entire floor isn’t the point. What matters is how well developed its ecosystem has become—it’s already part of everyday life, from food and drink to getting around. I experienced it firsthand.
For food and drink, I used Slush, SUI’s official wallet, to scan a code on a vending machine and buy a drink.
Second, I used an AI in the SUI ecosystem to create a perfume just for me. I chatted with the AI for over 20 minutes. The scent was exactly what I wanted, and the name on the bottle was customized too: Astra Luna.
I even wore it this morning. My suitcase was damp from the humidity after arriving in Singapore, so I sprayed on my custom perfume—and it had a calming effect, too.
That’s my experience of the food, drink, and fun. During the two-day conference, SUI kept announcing new developments. Here are the key points I’ve put together.
First, my overall impression: the key themes at this Basecamp weren’t really about “blockchains.” They centered on three questions: How do AI agents pay? How do they leave an audit trail? And how can they be trusted?
I. AI agent infrastructure: making agents “verifiable”
1) On October 6, Mysten Labs (an early contributor to Sui) and Google Cloud announced a partnership to launch VAA (Verifiable Agent Attestation).
It’s an “evidence layer”: it can create independently verifiable records of what an enterprise AI agent is authorized to do, what it actually does, and what the results are. Detailed data such as prompts and model outputs stays in the customer’s own Google Cloud environment. Only cryptographic proofs are stored on Walrus, with Sui coordinating the process. It can also help businesses meet compliance requirements such as the EU AI Act. Development is currently underway, and no launch date has been announced.
2) On October 7, Walrus Console launched. Walrus is a decentralized data platform in the Sui ecosystem. You can sign in with a Google or Apple account, without having to manage your own wallet or tokens. Files and AI agent memories can be connected to various AI tools through APIs or MCP. They’re encrypted by default and independently verifiable. During the launch period, users get 5 GB of free storage.
The fact that data isn’t locked into a single platform will only become more important in the age of AI.
II. Stablecoins and payments: from “agents paying for themselves” to “payments in your phone wallet”
3) On October 7, Sui and Alibaba Cloud announced a partnership to integrate Alibaba Cloud services with Sui Agent Payments. You set a budget and permissions for an AI agent, and each time it uses a service, it pays with a stablecoin on Sui. The partnership was announced onstage by Mysten Labs co-founder Adeniyi Abiodun and Alibaba Cloud’s Leo Li. Work is still underway, and neither a launch date nor pricing has been announced.
4) On October 8, Sui was integrated into Samsung Wallet, with native support for USDC on Sui. The initial rollout will cover around 82 million Galaxy devices in the United States, with more markets to follow. Combined with gas-free transfers, users can send USDC without holding SUI or paying network fees. The focus is on everyday use cases such as cross-border remittances.
5) On the same day, Circle’s CCTP V2 launched on Sui. Native USDC can now be transferred between Sui and 29 other chains: it’s burned on the source chain and minted on Sui, without having to route through a third-party cross-chain bridge.
III. Performance: where did 40.61 million TPS come from?
6) On the main stage on October 7, Sui announced a new record of 40,614,180 TPS, independently verified by CertiK.
This figure was achieved using “Sui tunnels,” a concept similar to the Lightning Network: transactions are executed off-chain, then settled back to the Sui mainnet when a channel closes. Each channel can be independently verified on-chain. During the test, more than 10,000 channels were opened almost simultaneously, supporting use cases such as chat, gaming, and payments.
More precisely, this is a “throughput record for transactions settled to Sui.” It does not mean that every transaction was individually processed on-chain at that TPS rate on the mainnet. Compared with the previous record of around 6.09 million TPS in July, it’s an increase of more than sixfold.
IV. Ecosystem: Bitcoin finance and the energy at the event
7) Hashi’s mainnet is launching in stages this month. It lets BTC remain on the Bitcoin network while hBTC is minted on Sui to be used as collateral for applications such as lending. When redeemed, hBTC is burned and native BTC is released. According to the team, it has secured over $500 million in capital commitments. Anchorage Digital has joined as an initial launch partner, providing qualified custody and stablecoin liquidity. Security measures include MPC, multisignature technology, and a Guardian layer.
8) The liveliest event on site was the Hudi trading challenge: four traders went head-to-head live for 45 minutes, making for a highly entertaining show.
V. A few of my thoughts
The overall narrative is cohesive.
VAA addresses “agents need to leave an audit trail when they act.” Alibaba Cloud + Agent Payments addresses “how agents pay.” Walrus addresses “where agent memories are stored.” Tunnels address “the throughput needed for massive numbers of interactions.” Abiodun’s point, in essence, was that Sui doesn’t need to process every interaction; it should be the trust layer for all interactions.
Distribution is harder than technology. For ordinary users, an entry point like Samsung Wallet, already installed on tens of millions of phones, is much more tangible than any TPS figure.
Stay level-headed. Many of these partnerships are still in progress. The real test is how much actual usage they see over the next few months.
These are my personal experiences and notes, shared for discussion only. This is not investment advice. DYOR.
At this Singapore event, #TOKEN2049 , SUI had booked an entire floor to showcase projects across its ecosystem.
Booking an entire floor isn’t the point. What matters is how well developed its ecosystem has become—it’s already part of everyday life, from food and drink to getting around. I experienced it firsthand.
For food and drink, I used Slush, SUI’s official wallet, to scan a code on a vending machine and buy a drink.
Second, I used an AI in the SUI ecosystem to create a perfume just for me. I chatted with the AI for over 20 minutes. The scent was exactly what I wanted, and the name on the bottle was customized too: Astra Luna.
I even wore it this morning. My suitcase was damp from the humidity after arriving in Singapore, so I sprayed on my custom perfume—and it had a calming effect, too.
That’s my experience of the food, drink, and fun. During the two-day conference, SUI kept announcing new developments. Here are the key points I’ve put together.
First, my overall impression: the key themes at this Basecamp weren’t really about “blockchains.” They centered on three questions: How do AI agents pay? How do they leave an audit trail? And how can they be trusted?
I. AI agent infrastructure: making agents “verifiable”
1) On October 6, Mysten Labs (an early contributor to Sui) and Google Cloud announced a partnership to launch VAA (Verifiable Agent Attestation).
It’s an “evidence layer”: it can create independently verifiable records of what an enterprise AI agent is authorized to do, what it actually does, and what the results are. Detailed data such as prompts and model outputs stays in the customer’s own Google Cloud environment. Only cryptographic proofs are stored on Walrus, with Sui coordinating the process. It can also help businesses meet compliance requirements such as the EU AI Act. Development is currently underway, and no launch date has been announced.
2) On October 7, Walrus Console launched. Walrus is a decentralized data platform in the Sui ecosystem. You can sign in with a Google or Apple account, without having to manage your own wallet or tokens. Files and AI agent memories can be connected to various AI tools through APIs or MCP. They’re encrypted by default and independently verifiable. During the launch period, users get 5 GB of free storage.
The fact that data isn’t locked into a single platform will only become more important in the age of AI.
II. Stablecoins and payments: from “agents paying for themselves” to “payments in your phone wallet”
3) On October 7, Sui and Alibaba Cloud announced a partnership to integrate Alibaba Cloud services with Sui Agent Payments. You set a budget and permissions for an AI agent, and each time it uses a service, it pays with a stablecoin on Sui. The partnership was announced onstage by Mysten Labs co-founder Adeniyi Abiodun and Alibaba Cloud’s Leo Li. Work is still underway, and neither a launch date nor pricing has been announced.
4) On October 8, Sui was integrated into Samsung Wallet, with native support for USDC on Sui. The initial rollout will cover around 82 million Galaxy devices in the United States, with more markets to follow. Combined with gas-free transfers, users can send USDC without holding SUI or paying network fees. The focus is on everyday use cases such as cross-border remittances.
5) On the same day, Circle’s CCTP V2 launched on Sui. Native USDC can now be transferred between Sui and 29 other chains: it’s burned on the source chain and minted on Sui, without having to route through a third-party cross-chain bridge.
III. Performance: where did 40.61 million TPS come from?
6) On the main stage on October 7, Sui announced a new record of 40,614,180 TPS, independently verified by CertiK.
This figure was achieved using “Sui tunnels,” a concept similar to the Lightning Network: transactions are executed off-chain, then settled back to the Sui mainnet when a channel closes. Each channel can be independently verified on-chain. During the test, more than 10,000 channels were opened almost simultaneously, supporting use cases such as chat, gaming, and payments.
More precisely, this is a “throughput record for transactions settled to Sui.” It does not mean that every transaction was individually processed on-chain at that TPS rate on the mainnet. Compared with the previous record of around 6.09 million TPS in July, it’s an increase of more than sixfold.
IV. Ecosystem: Bitcoin finance and the energy at the event
7) Hashi’s mainnet is launching in stages this month. It lets BTC remain on the Bitcoin network while hBTC is minted on Sui to be used as collateral for applications such as lending. When redeemed, hBTC is burned and native BTC is released. According to the team, it has secured over $500 million in capital commitments. Anchorage Digital has joined as an initial launch partner, providing qualified custody and stablecoin liquidity. Security measures include MPC, multisignature technology, and a Guardian layer.
8) The liveliest event on site was the Hudi trading challenge: four traders went head-to-head live for 45 minutes, making for a highly entertaining show.
V. A few of my thoughts
The overall narrative is cohesive.
VAA addresses “agents need to leave an audit trail when they act.” Alibaba Cloud + Agent Payments addresses “how agents pay.” Walrus addresses “where agent memories are stored.” Tunnels address “the throughput needed for massive numbers of interactions.” Abiodun’s point, in essence, was that Sui doesn’t need to process every interaction; it should be the trust layer for all interactions.
Distribution is harder than technology. For ordinary users, an entry point like Samsung Wallet, already installed on tens of millions of phones, is much more tangible than any TPS figure.
Stay level-headed. Many of these partnerships are still in progress. The real test is how much actual usage they see over the next few months.
These are my personal experiences and notes, shared for discussion only. This is not investment advice. DYOR.