Highlights of Sui Mover Meetup

Highlights of Sui Mover Meetup
Highlights of Sui Mover Meetup

The Sui Mover Meetup has ended successfully with many great insights about Web3's future, DeFi development, and unique NFT features on Sui.

The Sui Mover Meetup held in Taiwan brought together the Taiwan teams of Typus Finance, Scallop, Supra Oracles, and Bucket Protocol, all integral parts of the thriving Sui ecosystem. With the launch of Sui's mainnet earlier this year and the remarkable rise in token price, anticipation for the event was high. During the meetup, participants engaged in insightful discussions on various aspects of Sui, including the future of Web3, the development of DeFi within the ecosystem, and the unique features of NFTs on Sui. Industry leaders, venture capitalists, and key figures from Sui's development team shared their perspectives, shedding light on the promising prospects of the Sui ecosystem.

Session 1: Fireside Chat: The Next Stage of Web3

Evan Cheng discusses the future development of the Sui ecosystem

The Fireside Chat kicked off with Evan Cheng, the founder and CEO of Mysten Labs, discussing the future development of the Sui ecosystem. He emphasized the importance of early adopters and ecosystem developers in driving Sui's growth. Evan expressed his excitement about zkLogin, a unique feature that allows users to create wallets using existing OpenID services, providing an exceptional user experience.

Regarding the future of Web3, Evan predicted a gradual stabilization of the crypto market, moving away from the traditional cycles of bull and bear markets. He stressed that the construction of a robust ecosystem should be the primary focus, rather than short-term market fluctuations. Venture capitalists in attendance shared their perspectives, highlighting the significance of community and developers in determining the winners in the competitive landscape of Layer 1 and Layer 2 public chains.

Session 2: How far away is Sui's DeFi explosion?

Representatives from Typus Finance, Scallop, Supra Oracles, and Bucket Protocol share their insights

The second phase of the event focused on the current development status of DeFi within the Sui Ecosystem. Representatives from Typus Finance, Scallop, Supra Oracles, and Bucket Protocol shared their insights. While recognizing Sui's superior security and developer-friendliness compared to Solana, they acknowledged some advantages of Solana, such as longer hackathons and a deep understanding of the cryptocurrency space.

Pierce, the Co-founder of Bucket Protocol, emphasized the importance of CDPs in creating a complete financial ecosystem. He highlighted the success of CDP protocols on Ethereum, accounting for a significant portion of the locked-in value. Addressing concerns about the impact of stablecoin deployments like USDC on the current CDP protocol in the Sui ecosystem, Pierce expressed optimism about the long-term prosperity and win-win opportunities that such deployments could bring.

Updates from Sui DeFi teams were also shared during this phase. Typus Finance had successfully launched on the mainnet and planned to introduce NFT Collections based on the Dynamic field, offering users interactive experiences. Scallop aimed to launch lightning borrowing and lending services with zero fees. Supra Oracles recently launched the Supra Airdrop Campaign, providing token rewards for completing tasks. Bucket Protocol was set to launch on the mainnet, further enhancing the DeFi offerings within the Sui ecosystem.

Session 3: What makes NFTs on Sui different?

Attendees pose for the final picture of the event

In the final stage of the event, discussions centered around the development of NFTs in the Sui ecosystem. Releap, Somis, Lootex, and Dystopian Capital representatives explored the unique aspects of NFTs on Sui. They unanimously agreed that Sui's object-centered design, where assets are owned by a single address, grants users true ownership of NFTs, setting it apart from other Layer-1 solutions.

William, the founder of Somis, highlighted that asset transfers on other L1 chains require calling a contract, meaning users do not truly own their assets. In contrast, Sui's object-centered design provides genuine ownership and enables support for Real World Assets (RWAs).

While acknowledging that Sui's NFT ecosystem is still in its early stages, Aaron, founder of Releap, emphasized the importance of liquidity in attracting more users and showcasing the advantages of Sui. He mentioned initiatives on Ethereum platforms like Blur and LooksRare that incentivize and reward users, and he believed that as Sui continues to develop, more users would join the ecosystem.

By delving into these significant topics, the event deepened attendees' understanding of Sui, its potential in the Web3 landscape, the future of DeFi, and the unique aspects of NFTs on the platform. The event marked a successful conclusion to Sui's first physical gathering with the community

Wrapping up

The Sui Mover Meetup in Taiwan provided an opportunity for the Sui community to come together and explore the exciting developments in the Web3 landscape. Overall, the event served as a platform for sharing insights, deepening understanding, and fostering enthusiasm within the Sui community. Amidst numerous projects reaching critical milestones in their development, notable events include the Testnet launch by Bucket Protocol, the release of Scallop's Mainnet, and the 700M $SUPRA token airdrop by SupraOracles, we look forward to many other events like this future, to further foster the development of the Sui Ecosystem.

Some other photos from the event:

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