Sui Ecosystem Overview
With the recent mainnet launch, Sui Network becomes one of the largest blockchain ecosystems being built, with several hundred projects in development.
Sui Network is a permissionless Layer 1 blockchain that was developed by Mysten Labs. It is designed to provide high throughput and low latency for decentralized applications (dApps) while enabling developers to create unique user experiences tailored for the next billion web3 users.
Mysten Labs, the original contributor to Sui, was founded by former executives/lead architects of Meta’s Novi Research (the team responsible for Diem blockchain and Move programming language)
In this article, we will go through key parts of the Sui ecosystem.
Topics:
1. Tokenomics
$SUI is the native token of the Sui Network. Here are some takeaways:
2. Backers and Partners
On December 8th Sui announced a Series A round for 36M$ with a16z, Redpoint, Electric Capital, Lightspeed, Coinbase Ventures, Samsung Next, and others.
Later this year, in September, Sui closed a Series B round for 300M$. Investors from earlier rounds followed this round and it was led by FTX Ventures, with the investment being 200M$. However, after the FTX collapse in November, Sui announced that tokens issued to FTX were bought back by the foundation.
In total, Sui Network has raised 336M$ over 2 rounds and is planned to be used on ecosystem development.
3. Sui Ecosystem
Despite being one of the youngest ecosystems, Sui Network is one of the most active in terms of developer activity, with a wide variety of projects being built starting from different NFT collections and ending with DEXes and blockchain infrastructure. Worth mentioning that there are many projects which are already functional since Aptos launch, due to the same programming language
Sui Wallets
Sui DeFi
In this section, we will go through prominent DeFi projects in Sui Ecosystem: DEXes, swaps, lending & borrowing protocols, and trading aggregators.
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Sui Infrastructure
Here are some infrastructure projects on SUI:
Sui Launchpads
Due to the high amount of projects in active development, the Sui ecosystem is in need of launchpads, as a staging ground for its growth.
Sui NFT Marketplaces
Sui NFT
NFT collections are actively developing on Sui, with dozens announced in the following days. Here are some of them
4. Summary
Sui Network has a decent temp of ecosystem development in each niche. After achieving great results at its launch Sui has many active projects including wallets, DeFi platforms, infrastructure projects, launchpads, and NFT marketplaces. Notable projects include SuiSwap, Cetus, and BlueMove. Many NFT collections are also being developed on Sui. Since the ecosystem is in its early stages of development, investors can benefit from actively engaging in leading ecosystem projects, which may qualify them for potential future retrodrops and yield profitable returns.
Sources:
Author: Viacheslav Y.