Author: Jiang Haibo, PANews
Sui Network, one of the MOVE twins, went live on May 3 and issued native tokens. At the same time, a number of long-prepared projects in the Sui ecosystem have also been launched on the mainnet and started IDO. Below, PANews will review 10 DeFi projects worth paying attention to in the Sui ecosystem. Due to space limitations, we will continue to follow up and introduce other DeFi projects based on the progress of the ecological projects.
SuiPad
Link: https://www.suipad.xyz/
SuiPad is a Launchpad platform in the Sui ecosystem, and officially claims to be the official partner of Sui developer Mysten Labs. The project announced at the end of April that it had completed a $1.15 million financing round from NGC Ventures, GBV Capital, Cogitent Ventures, PANONY and others.
In addition to conducting IDO on its official website, SuiPad's platform coin SUIP will also conduct IDO on DAO Maker, one of the launchpad platforms with the greatest wealth creation effect, and KuCoin, a centralized exchange. The SUIP public offering round on DAO Maker will be held on May 6, and the SHO round for platform coin holders will be held on May 8; the IDO on SuiPad will also be held on May 7 and May 8.
Cetus
Link: https://www.cetus.zone/
Cetus is a liquidity protocol on blockchains (Sui and Aptos) written in the MOVE language. It supports centralized liquidity and can customize transaction fee levels. The protocol extracts 20% from transaction fees. Compared with Uniswap V2-type DEXs, such projects can usually capture higher trading volumes with lower liquidity.
Cetus was selected for Sui's second round of developer funding projects. The seed round was invested by OKX Ventures, KuCoin Ventures, Jump Crypto, Animoca Ventures, etc. From May 8th to May 10th, it conducted an IDO on the official website with a valuation of approximately US$50 million. Whitelists can be obtained by adding liquidity in advance. Different levels of whitelists correspond to different amounts of guaranteed participation quotas, and non-whitelist users can also participate. Due to the whitelist mechanism, Cetus' liquidity has exceeded US$20 million before the issuance of tokens.
Turbos Finance
Link: https://turbos.finance/
Turbos Finance is a spot trading platform and derivatives trading platform with centralized liquidity. Currently, the spot trading part has been launched on the Sui mainnet. In order to facilitate the project launch, Trubos also plans to launch a zero-commission Launchpad platform TurboStar.
Turbos' official website has announced many investors and partners, including Jump Crypto, Mysten Labs, etc. The project has been audited by Certik, Movebit, and OtterSec. No tokens have been issued yet, and the TVL is 4.52 million US dollars.
Bluemove
Link: https://bluemove.net/
Bluemove was originally an NFT market on Aptos, and is now deployed on Sui and has opened transactions for homogeneous tokens. Bluemove raised funds on Aptos, and in the IFO event that planned to raise $400,000, the actual funds involved exceeded $26 million. MOVE tokens can also be mined on PancakeSwap to obtain CAKE rewards.
Currently, the TVL of Bluemove DEX on Sui is $520,000. The project also provides services such as IDO and locked liquidity tokens. The official website shows that the yield of liquidity mining in Bluemove is relatively high, such as the USDC/USDT trading pair, with a liquidity of $36,000 and an APR of 196%.
MovEX
Link: https://www.movex.exchange/
MovEX is a hybrid liquidity DEX that includes centralized liquidity AMM, stablecoin AMM and order book DEX. The official said that it has received investment from Mysten Labs, but did not disclose the amount and other investors. The liquidity allocation engine automatically selects the optimal path when executing transactions.
MovEX also provides token sales services and offers advanced token sales tools such as Dutch auctions, Buket auctions and liquidity bootstrap pools (LBP). The project has not yet been officially launched.
Kriya DEX
Link: https://kriya.finance/
Kriya is a spot, perpetual contract, options and OTC exchange. Currently, the spot trading function has been launched on the Sui mainnet, and the perpetual contract and option functions are still under testing.
Kriya has a built-in cross-chain bridge of Wormhole and uses Wormhole’s cross-chain assets, but the project is not found in the ecosystem of Wormhole’s official website.
Mole
Link: https://mole.fi/
Mole is a leveraged mining project on Aptos and Sui. Depositors can deposit funds, and users who need funds can borrow these funds for leveraged mining. Currently, Mole has opened the deposit function on Sui, and the leveraged mining function has not yet been launched.
In addition, the project also provides different strategies based on different risk exposures, such as hedging risk strategies, short strategies in bear markets, and long strategies in bull markets.
FlowX
Link: https://flowx.finance/
FlowX is a one-stop trading platform in the Sui ecosystem that aggregates the liquidity of different DEXs. At the same time, FlowX also has its own liquidity, including the functions of Uniswap V2 and Curve. The project is currently running on the test network.
AnimeSwap
Link: https://animeswap.org/
AnimeSwap is a DEX on Sui and Aptos, and has also been launched on the Sui mainnet, with a total TVL of $170,000. However, AnimeSwap V1 currently only has the functions of Uniswap V2, and the project has not raised funds, and its functions are simple.
Suidex
Link: https://suidex.io/
Suidex's AMM function has been launched on the Sui mainnet, and the project also plans to provide IFO and NFT market functions. Suidex has issued tasks on Zealy, and points can be obtained by completing tasks, which can be exchanged for the project's native tokens in the future.