Grand Cayman, Cayman Islands, October 1st, 2024,
Chainwire
The Move-based protocol becomes the 8th largest blockchain by
Total Value Locked, amid USDC integration and thriving developer
ecosystem
Sui, the Layer 1 blockchain offering industry-leading
performance and infinite horizontal scaling, has crossed the $1B
mark in Total Value Locked (TVL), based on publicly available data from DeFiLlama. Leveraging the
network’s public goods, like its innovative central limit order
book, DeepBook, Sui’s TVL has grown over 2700% over
the past twelve months.
Data
from DefLlama shows the rapid advance of Sui’s DeFi TVL
The leading Layer-1 blockchain that was created by the team that
led Meta's Diem crypto project is now the 8th largest chain as
measured by TVL, after locking more value in its ecosystem than
established protocols such as Polygon, and Optimism. This latest
achievement signals a burgeoning demand that is strengthening the
entire Sui DeFi ecosystem including leading lending protocols on
the network, NAVI, Suilend and Scallop Lend and decentralized
exchanges, Cetus and Aftermath.
With over $400 million in stablecoins and a top 10 ranking in
weekly DEX trading volume, Sui recently announced with Circle that
it joined an exclusive shortlist of non-EVM chains to natively
support the USDC stablecoin and its Cross-Chain Transfer Protocol
(CCTP) on the network.
“Sui is the fastest-growing DeFi ecosystem and it’s
thriving!” said Adeniyi Abiodun, Co-Founder and Chief Product
Officer of Mysten Labs, which developed the Sui Network. “In the
past year, Sui has attracted an influx of builders whom Sui has
enabled to create applications that they simply can’t build on any
other blockchain.”
Since its mainnet launch, Sui has been rapidly growing its
presence in a number of areas. As a secure and scalable platform
for building the future of intelligent assets, Sui has already
become a premier destination for application builders in gaming,
DeFi, memecoins, as well as real-world applications such as
3D printing and
tokenized securities. In September, Mysten Labs unveiled its
SuiPlay0X1 handheld gaming device, which sets a
new standard in both the Web3 and traditional gaming industries by
enabling users to own their own assets natively on Sui and access
exclusive in-game rewards.
Contact
Sui
Foundation
media@sui.io