Sui Blockchain

Sui's DeFi Weekly Roundup #8 (October 11, 2023)

Harvey

Oct 11, 2023 • 7 min read

Sui's DeFi Weekly Roundup #8 (October 11, 2023)

Welcome to Sui's DeFi Weekly Roundup #8, where we bring you the freshest updates and news from the thriving DeFi projects on Sui Blockchain.

FlowX

$PRL has been officially listed on FlowX. $PRL is the native token of @suipearlfi (a yield aggregator that allows users to maximize yield earning through different farming strategies on @SuiNetwork).

#FlowX - New Listing Announcement 🔥

PRL/SUI is officially listed on #FlowX @suipearlfi is a yield aggregator that allows users to maximize yield earning through different farming strategies on @SuiNetwork.

Trade PRL on #FlowX now: https://t.co/BOAp1FV5aw #Sui #BuildOnSui… pic.twitter.com/rOBdtf9abX
— FlowX Finance (@FlowX_finance) September 26, 2023

The LoyaX campaign from FlowX has officially ended. Those who have ranked at the top of LoyaX will have the opportunity to mint FlowX's Loyalty NFT Pass in the upcoming minting phase.

LoyaX Has Officially Ended 🔥

After more than 30 days, we respectfully announce that LoyaX has officially ended.

We deeply appreciate and want to express our gratitude to all of you - the loyal users of #FlowX who have consistently supported and participated in every #FlowX… pic.twitter.com/XQxSjaUdkU
— FlowX Finance (@FlowX_finance) October 10, 2023

FlowX official links: Website | Twitter | Discord

KriyaDEX

KriyaDEX has partnered with HeroSwap! Now, users can swap into Sui instantly & anonymously, powered by HeroSwap & DeSo Smart Services — to experience institutional-grade trading on-chain. This partnership comes just in time as Kriya refills their Suinami 2.0 reward pools with 133,369 $SUI for the next 2 weeks.

More Good News🧘‍♂️Onboarding to Sui network is now easier than ever with our latest integration, HeroSwap 🔁

This partnership with @desoprotocol enables our users to directly swap various native L1 assets like $ETH, $SOL for $SUI on mainnet virtually instantly pic.twitter.com/V82TY0aunw
— KriyaDEX.sui (@KriyaDEX) October 10, 2023

In other news, KriyaDEX has reached 5M TVL in 2 months since their mainnet!

50k to 5M TVL in 2 months! 🫳#BuildOnSui pic.twitter.com/LYHdRkFxoa
— KriyaDEX.sui (@KriyaDEX) October 8, 2023

Kriya also announced their KriyaDEX Ambassador Program with some benefits as lucrative rewards such as allocation in $KRIYA IDO, $SUI tokens in competitions, and up to 5x boosts based on your past engagement with KriyaDEX, etc.

📢 Exciting News, KriyaFam! 🧘‍♂️

🌟 We're thrilled to announce the KriyaDEX Ambassador Program! 🌟

Over the past year, our community has grown to over 85k+ strong on Twitter and Discord. We've also become the 3rd largest DeFi protocol on Sui with nearly $10M in traded volume. 🚀 pic.twitter.com/ZDQTpVUOAP
— KriyaDEX.sui (@KriyaDEX) October 5, 2023

Typus Finance

Typus Finance just released some updates to their Season 1 Level Up campaign:

Deposit is now LIVE
For every $1 equivalent users deposit, users can earn 0.01 per hour! Bidding per $1 premium has now been bumped up to 200 EXP!

More information can be found here.

We've just updated our Season 1 Level Up campaign!

Deposit is now LIVE ✨ For every $1 equivalent you deposit, you earn 0.01 per hour!

Bidding per $1 premium has now been bumped up to 200 EXP!

Level up now 👉🏻 https://t.co/h802K8Hozb
Read more 👉🏻 https://t.co/bB0vZ82g7e pic.twitter.com/wOVRS0Cc1O
— Typus Finance (@TypusFinance) October 3, 2023

In other news, Typus also released a Twitter Space to talk about Sui kiosk and the possibilities of NFT tech on the Sui Network with some all-star panels featuring @themoveguy, @anoopkansupada, @thebryanjun, and @Pentameal. You can hear the Space again here.

Post Token2049 & Post mint - let's talk about Sui kiosk and the possibilities of NFT tech on @SuiNetwork 🌊

Stoked to have on an all star panel featuring @themoveguy, @anoopkansupada, @thebryanjun, and our very own @Pentameal!

Set your reminders now 👇🏻https://t.co/i86uqImCrq pic.twitter.com/0ed4kbszh1
— Typus Finance (@TypusFinance) September 21, 2023

Typus Finance official links: Website | Twitter | Discord

Bucket Protocol

Bucket with some updates about the Liquidity Mining Program with 79,238 $SUI rewards in the coming weeks.

📣 Liquidity Mining (LM) Program Update 🗓️ Sept 25-Oct 8
We've added and deployed 79,238 SUI rewards in the upcoming weeks.

USDC/BUCK pool incentives:
a) Earn 66,191.74 SUI on @AftermathFi
b) Get 13,046.56 SUI on @KriyaDEX for LP staking in the Bucket pool. pic.twitter.com/nA4T2rmb5f
— Bucket Protocol (@bucket_protocol) September 27, 2023

Bucket Protocol official links: Website | Twitter | Discord

Scallop

Scallop announced that their TVL has surpassed $5.5M!

🔓TVL MILESTONE UNLOCKED🔓

We are excited to announce that Scallop TVL have just surpassed $5.5M!🌊

We want to thank our Scallopers for your unwavering support, and we will continue building to become the best DeFi protocol on #Sui💧 pic.twitter.com/FLGuSWIVO8
— Scallop (@Scallop_io) October 10, 2023

Scallop announced their official partnership with @volo_sui, the liquid staking solution that helps users maximize utility and liquidity for Sui.

💧PARTNERSHIP ANNOUNCEMENT💧

We are excited to announce our official partnership with @volo_sui, the liquid staking solution that helps users maximise utility and liquidity for Sui!

We look forward to upcoming developments and integration with @volo_sui 🤝 pic.twitter.com/43q2Caeb5d
— Scallop (@Scallop_io) October 9, 2023

Scallop official links: Website | Twitter | Discord

NAVI Protocol

NAVI with some Parameter Changes to their protocol

Optimal Utilization Rate

USDC: 60% -> 50%
SUI: 65% -> 55%
USDT: 75% -> 50%

PSA - Parameter Change

After observing the borrow demand spike on NAVI protocol, we decided to make the following parameters change.

💊 This should allow us to maintain a healthy capital utilization rate and keep our risk parameters in check.

Optimal Utilization Rate
#USDC… pic.twitter.com/tXXtqcMOI6
— NAVI Protocol | navi.sui (@navi_protocol) October 8, 2023

In other news, another new knowledge from NAVI where they educate about Flash Loans - a feature that will eventually make its way to NAVI protocol.

1/7
Learn DeFi with NAVI - Flash Loans ⚡️

🎓 Let’s take this opportunity to learn about Flash Loans, a feature that will eventually make its way to NAVI protocol.

Flash Loans are an integral and unique feature of DeFi. pic.twitter.com/wdvagNwb9E
— NAVI Protocol | navi.sui (@navi_protocol) October 6, 2023

NAVI Protocol official links: Website | Twitter | Discord

Kana Labs

@kanalabs and @ethosx_finance are proud to announce Switch - A revolutionary tokenized derivative product. With Switch, users can:

Trade on crypto price movements.
Safeguard against market volatility.
Earn, Stake, or Deposit assets.

@kanalabs and @ethosx_finance are proud to announce Switch!

🚀A revolutionary tokenized derivative product🚀

Join the waitlist https://t.co/M8O7VgnHKv and unleash the potential of crypto like never before.

With Switch you can👇

🔄Trade on #Crypto price movements
🛡… pic.twitter.com/GSm4KeDlvs
— Kana Labs (@kanalabs) October 10, 2023

Kana Labs official links: Website | Twitter | Discord

Haedal

Haedal announced that they have won the Sui Liquid Staking Hackathon, claiming the 2nd spot.

We are honored to announced that Haedal has won the #Sui Liquid Staking Hackathon 🔥🔥 Supported by @SuiFoundation and @Mysten_Labs , we will continue boosting up the DeFi Flywheel on @SuiNetwork with DeFi protocols and growing the ecosystem with various application scenarios 💻 pic.twitter.com/bbVG4wc88a
— Haedal🦦 (@HaedalProtocol) October 10, 2023

Cetus

The cumulative trading volume executed by @CetusProtocol has officially exceeded $500M.

New Milestone✅👇
The cumulative trading volume executed by @CetusProtocol has officially exceeded $500M🎉. Thanks for the long-time support from every one of you. #Cetus is going to power the on-chain trading in the Move ecosystem continually. 🌊🐳 pic.twitter.com/FXXRAvXvEv
— Cetus🐳 (@CetusProtocol) October 7, 2023

Cetus official links: Website | Twitter | Discord

Turbos Finance

Turbos teamed up with @PythNetwork to bring users real-time token prices on @SuiNetwork, empowering them to make swaps with confidence based on 24-hour pricing trends.

We've teamed up with @PythNetwork to bring you real-time token prices on @SuiNetwork, empowering you to make swaps with confidence based on the 24-hour pricing trends 📈🪙

🌊 Swap today on https://t.co/o6K6JYTURh with the best price! pic.twitter.com/fV0s321OOi
— Turbos Finance (@Turbos_finance) October 3, 2023

In other news, Turbos' 24-hour trading volume just hit an all-time high of $2M!

As the moon shines bright this Mid-Autumn Festival, Turbos soars to new heights!

We're over the moon to announce our 24-hour trading volume just hit an all-time high of $2M!🌕📈

Join us in this moonlit journey 🥮 pic.twitter.com/icxPOQgtlA
— Turbos Finance (@Turbos_finance) September 29, 2023

Turbos Finance official links: Website | Twitter | Discord

WispSwap

WispSwap announced that their Liquid Staking Derivative, wispSui, has officially landed on the @SuiNetwork testnet.

🔥 Our Liquid Staking Derivative, wispSui, has officially landed on the @SuiNetwork testnet!#Sui #Suinami #WispSwap #LSD #DeFi pic.twitter.com/mMOfdocxPU
— Wisp Swap (@WispSwap) September 29, 2023

WispSwap official links: Website | Twitter | Discord

Interest Protocol

Interest Protocol announced that they have made the strategic decision to discontinue support for our DEX's user interface in light of low user adoption and a plethora of alternatives in the market. Users are kindly advised to complete the withdrawal of their liquidity by December 1st, 2023.

🔊 𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭 🔊

In light of low user adoption and a plethora of alternatives in the market, we have made the strategic decision to discontinue support for our #DEX's user interface.

(1/3) pic.twitter.com/qXoiv3m8dr
— Interest Protocol - SUI💧 (@interest_dinero) October 6, 2023

Interest Protocol official links: Website | Twitter | Discord

Aftermath Finance

Aftermath Finance OKX Wallet has been integrated into Aftermath. Users of OKX Wallet will now be able to trade throughout Aftermath with ease

1/ 📢 @okxweb3 x @AftermathFi 📢

We are excited to announce that OKX Wallet has been integrated on Aftermath! 🎉

Users of OKX Wallet will now be able to trade throughout Aftermath 🚀#Sui #Suinami #BuildOnSui pic.twitter.com/a2tANTcTOd
— Aftermath Finance (@AftermathFi) October 10, 2023

In other news, @AftermathFi announced the partnership with @WispSwap. Aftermath has officially joined the wispSUI LST basket powered by @WispSwap

1/ 📢 @WispSwap x @AftermathFi 📢

We are thrilled to announce a partnership that marks a significant milestone in the world of #LSDFi on @SuiNetwork. 🚀 Aftermath has officially joined the wispSUI LST basket powered by @WispSwap!#Sui #Suinami #BuildOnSui pic.twitter.com/JnTpB6qcsV
— Aftermath Finance (@AftermathFi) October 6, 2023

Aftermath Finance official links: Website | Twitter | Discord

Volo

Volo announced their strategic partnership with @surf_wallet, one of the first zkLogin wallets on Sui! As part of their collaboration, they will be working closely with Surf to make our Liquid Staking Token $vSUI available to all users.

We are proud to announce our strategic partnership with @surf_wallet, one of the first #zkLogin wallets on Sui! As part of our collaboration, we will be working closely with Surf to make our Liquid Staking Token $vSUI available to all users.

Stay close for more news on our LST… pic.twitter.com/eAGR8mZGd9
— Volo (@volo_sui) October 8, 2023

In other news, Volo announced the partnership with @scallop_io, expanding ways to utilize $vSUI.

We're excited to partner with @scallop_io, expanding ways to utilize vSUI!
Scallop is a pioneering money market in the Sui ecosystem and the first to receive a grant from the Sui Foundation. With top-notch security, they offer high-interest lending, low-fee borrowing, AMM, asset… pic.twitter.com/AdHFaA1kPE
— Volo (@volo_sui) October 4, 2023

Volo official links: Website | Twitter | Discord

That's all for this week's DeFi project updates in Sui! Stay tuned for our next update, where we'll bring you more exciting news and developments from the world of decentralized finance. We're committed to keeping you informed about the latest trends, innovations, and opportunities in the DeFi space in Sui Network. See you next time with even more exciting updates with Suipiens!

Be sure to check out Suipiens' website and social media channels to stay up-to-date on all things about Sui Blockchain!

About Suipiens: Website | Twitter | Discord