Sui is a new Layer 1 blockchain that aims to support Web3 and NFTs. It is a permissionless, PoS-powered blockchain that provides instant settlement and high throughput while also enabling a wide range of next-generation latency-sensitive decentralized applications.
Sui’s recent announcement of a successful $300 million Series B funding round indicates that the blockchain platform is not just a trend. Sui’s unique features mean there will be unmatched scalability and instant settlement of transactions.
The platform can scale horizontally to meet the increasing demands of applications, and authorities can add workers to increase processing power in order to meet growing network capacity.
What you'll learn 👉
Strong backers and new programming approach
While Sui is a newcomer to the blockchain realm, it has already gained significant attention and funding from investors such as Andreessen Horowitz, Coinbase Ventures, and Binance Labs. Sui’s architecture consists of programmable objects built and managed by Move-enabled smart contracts, transactions, and independent validators.
Best Sui projects to buy in 2024
Sui Network has been gaining attention in the cryptocurrency industry, and for good reason. With a diverse range of projects under its umbrella, Sui offers a plethora of opportunities for crypto enthusiasts. Let’s take a closer look at some of the notable projects within the Sui ecosystem and their current status.
Cetus Protocol: Dex with Stable + Volatile LP
- Type: Swap, Seedround raised
- Status: Dapp Live, IDO soon
Cetus Protocol is a decentralized exchange (Dex) that stands out due to its stable and volatile liquidity pools. It has attracted significant investment from prominent players in the industry, including OKX, KuCoin, Comma3, NGC Ventures, Animoca Ventures, IDG, Leland Ventures, AC Capital, Adaverse, and Coin 98. Currently, the protocol is live, and an Initial DEX Offering (IDO) is on the horizon.
Turbos Finance: Concentrated Liquidity Swap with Perpetual AMM
- Type: Swap, Seedround raised
- Status: Dapp Live
Turbos Finance is another live dapp within the Sui Network that offers a concentrated liquidity swap platform backed by Jump and the Sui Foundation. The platform aims to provide users with a seamless experience while maintaining the security of their assets.
MovEX: AMM and Order Book Dex
- Type: CLOB, Swap, Seedround raised
- Status: Testnet
MovEX is an automated market maker (AMM) and order book decentralized exchange (Dex) project that has attracted investment from Mysten Labs. Although still in the testnet phase, MovEX shows promise with its unique combination of AMM and order book trading functionalities.
Giro Swap: NFT & Token Swap and Launchpad
- Type: NFTfi, Swap
- Status: Dapp Live
Giro Swap is a live dapp that offers a platform for swapping tokens and NFTs. Additionally, it features a launchpad for new project offerings. However, at the moment, there seems to be limited liquidity available for token swaps.
Ryu Finance: Dex, GameFi, and Launchpad
- Type: Swap, GameFi, Launchpad
- Status: Testnet
Ryu Finance is an exciting project within the Sui Network that combines elements of a decentralized exchange (Dex), GameFi, and a launchpad. Its aim is to provide users with a comprehensive ecosystem for trading, gaming, and launching new projects. While still in the testnet phase, Ryu Finance holds great potential for crypto enthusiasts looking to explore the intersection of gaming and decentralized finance.
Wisp Swap: Swap and Prediction Market
- Type: Swap, Prediction Market
- Status: Testnet, Airdrop
Wisp Swap offers users a platform for token swapping and engages them in prediction market activities. While the project is currently in the testnet phase, it promises to provide innovative features to traders and prediction market enthusiasts. Additionally, an airdrop opportunity is available for users to participate in the project’s testnet activities.
Sui Dex: Swap, NFT Marketplace, and Launchpad
- Type: NFTfi, Swap, Launchpad
- Status: Testnet
Sui Dex is an all-in-one platform that combines token swapping, an NFT marketplace, and a launchpad for new projects. Although currently in the testnet phase, Sui Dex shows potential for becoming a hub for traders, NFT collectors, and project launches within the Sui Network.
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Flow X: Dex with Stable and Volatile LP
- Type: Swap
- Status: Testnet
Flow X is a decentralized exchange (Dex) project within the Sui Network that offers stable and volatile liquidity pools. While still in the testnet phase, Flow X impresses users with its smooth user interface and well-designed graphics, enhancing the trading experience for its users.
Interest Protocol: Dex with Stable and Volatile LP
- Type: Swap
- Status: Testnet
Interest Protocol presents a decentralized exchange (Dex) within the Sui Network, featuring stable and volatile liquidity pools. Although in the testnet phase, the project offers unique incentives, including a 2.5% airdrop and the possibility of yield farming without private sale allocations.
AftermathFi: Dex with Stable and Volatile LP
- Type: Swap
- Status: Testnet
AftermathFi introduces an intriguing concept in the form of an “On-chain CEX.” The project appears to be a decentralized exchange (Dex) offering stable and volatile liquidity pools. While in the testnet phase, AftermathFi aims to provide users with a seamless trading experience while leveraging the benefits of decentralized finance.
Jujube.Finance: Swap with Gamification for Additional Yield
- Type: Swap
- Status: Dapp Soon
Jujube.Finance is an upcoming project within the Sui Network that combines swapping functionalities with gamification elements. The platform aims to enhance the user experience by introducing gamified features that allow users to earn additional yields while trading.
Mole DeFi: Leverage Yield Farming on Aptos and Sui
- Type: Yield
- Status: Dapp Live
Mole DeFi introduces leverage yield farming opportunities on the Aptos and Sui mainnets. Users can participate by depositing Sui tokens on the Sui mainnet. This project aims to provide users with enhanced yield farming strategies and the potential to maximize their returns.
Typus Finance: Option Trading on Sui
- Type: Option
- Status: Dapp Live
Typus Finance offers an option trading platform on the Sui Network. This allows users to engage in options trading and potentially benefit from price movements in the crypto market. By providing an avenue for options trading, Typus Finance aims to cater to users seeking more sophisticated trading strategies.
Patronus Fi: Lending Market on Aptos and Sui
- Type: Lending
- Status: Dapp Soon
Patronus Fi is an upcoming lending market that will be available on the Aptos and Sui networks. This project aims to facilitate borrowing and lending activities, allowing users to earn interest on their deposited assets. By expanding the lending capabilities within the Sui Network, Patronus Fi aims to provide users with additional opportunities to grow their crypto holdings.
Navi Protocol: Lending and Leverage Yield Farming
- Type: Lending
- Status: Dapp Soon
Navi Protocol is another project focusing on lending and leverage yield farming. By combining lending capabilities with leverage strategies, users can potentially amplify their returns on the Aptos and Sui networks. Although still in the development phase, Navi Protocol aims to provide users with a comprehensive platform for maximizing their yield farming opportunities.
TrustLend: Lending Platform
- Type: Lending
- Status: Dapp Soon
TrustLend is an upcoming lending platform within the Sui Network. It aims to enable users to lend and borrow assets, thereby creating a lending marketplace within the ecosystem. With TrustLend, users can leverage their crypto holdings to earn interest or access liquidity when needed.
- Scallop Lend
- A peer-to-peer money market protocol where users can earn interest by supplying liquidity or borrow assets by providing collateral5. It has over $119 million in Total Value Locked (TVL).
Conclusion
It is important to note that some projects are still in the testnet phase, while others are already live and operational. The Sui Network aims to cater to a wide range of interests, including swapping, lending, yield farming, launchpads, and more.
As the ecosystem continues to evolve, it will be interesting to see how these projects develop and what new opportunities they bring to the crypto community.
Disclaimer: The information provided here is based on available data and should not be considered financial advice. Always conduct your own research before engaging in any cryptocurrency projects.
