Sui Ecosystem Spotlight

Sui is a high-performance Layer-1 blockchain providing instant settlement and high throughput without compromising security. It achieves this by leveraging a novel architecture that departs from the traditional block-by-block transaction processing model. Instead, Sui processes transactions in parallel, allowing for horizontal scalability and faster execution.

Sui’s Revolutionary Architecture: Built for Scalability

• Horizontal Scalability: Unlike traditional blockchains, Sui grows as its user base expands. By adding more resources, such as nodes, Sui can scale its capacity without sacrificing performance, ensuring it can handle an ever-increasing demand.
• Parallel Transaction Execution: Sui’s parallel processing allows independent transactions to be executed simultaneously, pushing throughput to new heights, handling thousands of transactions per second without bottlenecks.
• Low Latency and Instant Finality: Optimizing the consensus process for simpler transactions, Sui provides near-instant confirmations—an essential feature for fast-paced DeFi environments. This leads to quick finality, fostering a seamless experience for DeFi users.

Sui’s DeFi Ecosystem: Exponential Growth

DeFi transformed the way we engage with financial systems, yet scalability, high fees, and slow transaction speeds remain major obstacles. Sui’s innovative infrastructure addresses these limitations head-on, making it the ideal platform for the next generation of DeFi applications. On top of this, Sui has been catapulting into the top tier of DeFi ecosystems with more than $1bn in TVL. From handling high transaction volumes, to enabling complex DeFi operations, to supporting an entire ecosystem with DeepBook – an innovative base layer of wholesale liquidity – Sui is building a frictionless, scalable future.

• Seamless DeFi Operations: High throughput and low transaction costs make Sui the ideal platform for DeFi protocols, facilitating everything from token swaps to lending and yield farming at scale.
• Expansive Ecosystem: Sui supports a diverse range of DeFi applications and tokens, including:
  • Native USDC: Stable, reliable transfers within DeFi.
  • DEEP, FUD, HIPPO: Growing communities of tokens, each contributing to the rich ecosystem.
• Liquid Staking Tokens (LSTs): With LSTs gaining momentum, Sui offers an ideal environment for innovative staking and yield opportunities.

Pyth: A Strategic Partner Empowering Sui’s Ecosystem

Pyth Network plays a crucial role in Sui’s DeFi ecosystem, enabling accurate, real-time data feeds that power the most cutting-edge decentralized applications. By providing trusted data for Sui’s apps, Pyth ensures that Sui’s DeFi projects have access to the reliable market information they need to thrive. Here’s how:

• Enabling Sui DeFi Applications: Pyth’s data feeds enable precision and efficiency in DeFi applications, from decentralized exchanges to lending protocols.
• Listing Eco Tokens: Pyth supports Sui by offering real-time pricing for its native ecosystem tokens, providing transparency and data accuracy across Sui’s financial ecosystem.

Here are some metrics showing Pyth’s dominance on Sui:

• Pyth powers the entire volume traded on Sui which amounts to close to $1.6B the past 30 days
• Pyth powers 8 protocols on Sui compared to the second oracle on Sui, which only secures 3 protocols
• Pyth’s Total Value Secured is over $700M, which amounts to 53% of Sui’s total TVS

Sui Builders are Pyth-Pilled

Since launching in May 2023, Pyth Price Feeds have been integrated by the next-generation of builders on Sui. Let’s learn more about the protocols that are pushing the limits of high-speed DeFi.

Suilend: The DeFi Superapp

Suilend is the DeFi superapp, offering a suite of products including lending, liquid staking, and swaps. Built by the team behind Save (formerly Solend), one of the largest DeFi protocols on Solana, Suilend leverages extensive expertise in the space.

Recently, Suilend launched SpringSui, a Liquid Staking Token (LST) standard providing infinite liquidity and instant unstaking, minimizing depegging risks and enabling others to launch their own LSTs quickly and easily. Supported by notable investors like DeFi Alliance, Quantstamp, Mert, Andrew Kang, DCFGod, Bryan Pellegrino, and Balaji, Suilend has become the fastest-growing DeFi protocol on Sui, achieving $220 million in Total Value Locked (TVL) within just 8 months.

Thanks to Pyth, Suilend supports a wide range of assets, including newer, high-demand assets like DEEP and FUD.

Here are some key metrics:

• $210M in total value locked (TVL), with $25 million from isolated assets like $DEEP and $FUD that are available on Suilend
• $16.3M in total value locked (TVL) for SpringSui LST in the first week
• 29,000 Monthly Active Wallets (MAW) in October, a 420% increase from the previous month

NAVI Protocol: Navigating DeFi on Sui

NAVI Protocol is a decentralized liquidity platform offering a comprehensive and accessible solution for navigating the complex world of DeFi. It enables users to participate as liquidity providers or borrowers in a straightforward manner, simplifying engagement with decentralized finance.

With Pyth Price Feeds, NAVI Protocol leverages accurate, real-time price feeds to support functionalities that depend on precise asset valuation, such as secure token swaps, lending, and borrowing services. This integration enhances user confidence and allows for seamless, low-risk transactions.

NAVI Protocol utilizes the following Pyth feeds: $SUI, $USDC, $USDT, $NAVX, $CETUS, $ETH, and $BTC.

Here are some key metrics:

• 13 assets supported
• $400M in total value locked (TVL) and $100M borrowed

Bluefin: Redefining On-Chain Trading on Sui

Bluefin is a decentralized order book-based exchange built on Sui, designed for both professional and first-time traders. Focusing on security, transparency, and redefining the user experience of on-chain trading platforms, Bluefin is backed by Polychain, SIG, Brevan Howard, and other leading firms.

Pyth Network provides Bluefin precise, real-time pricing data essential for calculating funding payments, handling liquidations, and protecting traders from off-market orders. By leveraging Pyth's reliable price feeds, Bluefin offers traders a dependable, low-slippage trading experience.

Bluefin leverages the following Pyth feeds: $BTC, $ETH, $SOL, $SUI, $AVAX, $ARB, $SEI, $APT, $POL, $TIA.

Here are some key metrics:

• $32B total trading volume this year
• Over 35,000 users this year

Scallop: Pioneering DeFi on Sui

Scallop is a leading peer-to-peer money market on Sui and the first DeFi protocol to receive an official grant from the Sui Foundation. Scallop is a lending protocol offering multiple borrow-lend services, lending derivatives, Sui Programmable Transaction Block building tools, flash loans, SDKs, and a UI for swaps and bridges.

As Scallop's primary oracle, Pyth Network provides essential price data for all calculations. Offering both push and pull integration models, Pyth enhances security and allows for seamless integration by providing additional variables for extra validation.

Scallop leverages the following Pyth feeds: $SUI, $BTC, $ETH, $SOL, $USDC, $USDT, $SCA, $CETUS.

Here are some key metrics:

• $175M total value locked (TVL) ATH
• 14.4M total $SCA locked for 3.67 average years
• $2M revenue generated
• $110B total lending and borrowing volume
• $170M swap volume
• $2B flash loan volume

$FUD is fuel: the OG meme on Sui

$FUD is the original meme token on Sui, known for its widespread adoption and community engagement. Since its free airdrop, $FUD has achieved the most integrations across the Sui ecosystem.

Thanks to its Pyth price feed, FUD has expanded its reach even further. $FUD is now integrated into leading DeFi protocols like Suilend and Sudo Finance, supporting borrowing and trading activities. The Pyth token listing aligns with FUD's mission to be the #1 meme on Sui and acts as a catalyst for its adoption across DeFi.

Like any of the 500+ Pyth price feeds, $FUD is permissionlessly available on all chains where Pyth is deployed.

Here are some key metrics:

• $5 million in $FUD deposits on Suilend
• $125,000 in $FUD trading volume on Sudo Finance

DoubleUp: The DeFi Gaming Protocol

DoubleUp is a DeFi gaming protocol offering a wide variety of games and applications. Whether it's hitting it big on blackjack, staking in Unihouse, or winning a luxury raffle, DoubleUp is a one-stop shop for your web3 gamer needs. DoubleUp benefits from Sui's unmatched transaction speed and vibrant community in the Web3 space.

By leveraging Pyth, DoubleUp offers the fastest and most accurate bet settling available anywhere. This enhances the gaming experience by ensuring quick and reliable outcomes, boosting user trust and engagement.

DoubleUp utilizes the following Pyth feeds: $SUI**,** $USDC**,** $BUCK

Some key metrics:

• Over $17M in volume processed by Unihouse in the last two months
• An average of 10,000 bets settled per day

Sudo Finance: Empowering Leverage Trading

Sudo Finance is the first decentralized perpetuals aggregator on Sui, featuring both crypto and real-world assets. Traders can open positions with up to 25x leverage, while users can become liquidity providers by depositing assets into the Sudo Liquidity Provider (SLP) pool.

Leveraging Pyth Network as its oracle, Sudo Finance relies on Pyth's reliable price feeds for marking positions—from opening orders to closing positions. Pyth dictates how much users earn or lose, ensuring accurate and dependable trading. This integration empowers Sudo Finance to be one of the most reliable perpetual DEXs on Sui.

Sudo Finance utilizes the following Pyth feeds: $SUI, $FUD, $PYTH, $W, $TSLA, $NVDA.

Here are some key metrics:

• Over $39M in total trading volume since launch
• Over $1M in assets staked in the SLP pool
• Over $250,000 in trading fees accrued
• Over 1,100 users and growing

Typus Finance: Delivering Real Yield Infrastructure

Typus Finance is a real yield infrastructure platform on Sui, specializing in option markets and structured products for various risk trading purposes. As the largest primary option provider on Sui by Total Value Locked (TVL) at $13 million, Typus offers secure and efficient financial instruments to its users.

Leveraging Pyth Network as its primary oracle, Typus Finance relies on Pyth's reliable price feeds for option settlements. Both the platform and its users trust Pyth to provide accurate and fair results for each settlement, ensuring transparency and confidence in the trading process.

Typus Finance utilizes the following Pyth feeds: $SUI, $BTC, $ETH, $SOL, $FUD, $INJ, $SEI, $DEEP.

Here are some key metrics:

• $13M in total value locked (TVL)
• Delivered over $3.5M worth of premiums over the last year

Aftermath Finance: A One-Stop DeFi Platform on Sui

Aftermath Finance is a comprehensive DeFi platform on Sui, featuring a DEX aggregator, an AMM with pools of up to eight assets, liquid staking, perpetuals trading, and MEV solutions. Leveraging Sui's high performance, low costs, and scalability, Aftermath provides a trustless and transparent perpetuals exchange that offers a superior user experience compared to more centralized solutions.

Thanks to Pyth Price Feeds, Aftermath Finance offers markets for a wide variety of assets, including cryptocurrencies, commodities, equities, and forex. Pyth's quick addition of new price feeds for assets that the community is interested in trading allows Aftermath to expand its offerings rapidly. As a publisher, Aftermath contributes to the Pyth ecosystem. Pyth's low latency and dependability ensure that markets run smoothly and without interruption.

Aftermath Finance utilizes the following Pyth feeds: $BTC, $SUI, $XAU, $NVDA—these are currently on testnet, but many more are set to be offered after the mainnet launch.

Here are some key metrics:

• Over $100M in total value locked (TVL)
• Over $600M in spot trading volume has been processed to date

Bucket Protocol: Enhancing Capital Efficiency

Bucket Protocol is a decentralized stablecoin platform, designed to enhance capital efficiency and liquidity. Users can deposit assets like SUI and other supported tokens as collateral to mint BUCK, the protocol's native stablecoin. This allows users to unlock liquidity from their holdings, creating opportunities for additional earnings through staking BUCK or joining liquidity pools to earn rewards.

By leveraging Pyth Price Feeds, Bucket Protocol accesses reliable, high-frequency price feeds, ensuring accurate and timely collateral valuations. This enhances the security and efficiency of the protocol's liquidation mechanism, providing users with a smooth experience and maintaining the integrity of BUCK.

Bucket Protocol utilizes the following Pyth feeds: $SUI, $USDY, $CETUS, $NAVX, $SCA, $WETH.

Here are some key metrics:

• Over $27M in total value locked (TVL)
• 19.85M of total $BUCK supply

ABEx: Pioneering Onchain Derivatives

ABEx is an onchain derivatives and swap protocol built providing traders with zero slippage and high-leverage trading services, utilizing a synthetic architecture to improve capital efficiency.

By leveraging Pyth Price Feeds, ABEx relies on Pyth's fast and accurate price feeds for all trading pairs. This ensures that traders receive precise pricing, enhancing their trading experience with reliability and efficiency.

ABEx utilizes the following Pyth feeds: $SUI, $BTC, $ETH, $SOL, $BNB, $DOGE, $ADA, $WLD, $BLUR, $AVAX, and $PEPE.

Stay tuned for what’s coming next. The future of digital finance is here—and it’s powered by Pyth.

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