The 5 DeFi projects on Sui Network you need to try today
GM degens. The rising popularity of Sui has created opportunities that you shouldn't miss. Sui has experienced significant growth, surpassing 600 million in Total Value Locked (TVL) and nearly tripling in value since the beginning of December.
Despite being less than a year old, Sui is emerging as a formidable competitor among non-Ethereum Virtual Machine (EVM) Layer 1 solutions. Numerous projects are now vying for a spot in this promising ecosystem. As we delve into these five Sui ecosystem initiatives, it's important to remember that in this frontier, rewards often come with inherent risks!
Let's freaking go. 👇
🟢 Navi Protocol
Navi Protocol is the first native one-stop liquidity protocol on Sui. It enables users to participate as liquidity providers or borrowers within the Sui Ecosystem. The protocol's innovative features, such as Automatic Leverage Vaults and Isolation Mode, enable users to leverage their assets and access novel trading opportunities with minimized risks. With its focus on providing essential DeFi infrastructure, Navi aims to be a key player in the rapidly evolving world of DeFi in the Sui Ecosystem.
Opportunities:
Lending & Borrowing: Navi currently offers a very competitive APR on their lending pools. For example, 26% APR on the Sui pool. 34% on USDT and 38% on USDC. This APR can be considered the best in the ecosystem at the moment.
NAVX token: Navi just recently launched their token, users who join their IDO can easily earn 200% from the initial investment. NAVX is trading at $0.11 at the moment, which is a good price to start accumulating.
🟣 Suilend Protocol
Suilend, Solend’s first expansion outside the Solana ecosystem, officially launched on 11th March, on the Sui Network. Solend, which boasts over $200 million in total value locked (TVL) across 170,000+ users with support for 70+ assets, now brings its unparalleled DeFi expertise and experience building industry-leading lending protocols to the Sui ecosystem in a move that adds to the quickly expanding depth of the Sui ecosystem.
Opportunities:
Lending & Borrowing: Suilend currently offers 16-20% APR on their lending pool. This number is not very attractive, however, the borrowing APR is 2%. Meaning that you can simply borrow the asset and provide for the lending pool and earn from the different.
Airdrop: Suilend hasn't made any announcement toward airdrop or releasing tokens in the near future. But from our prediction, this one is going to be huge, watch the speculation in the price of Suilend Beta Pass NFT (Entrance ticket for their mainnet Beta).
🔵 FlowX Finance
FlowX is the ecosystem-focused decentralized exchange built on the Sui Blockchain. Users can enjoy a smooth trading experience with the best rates aggregated from all AMMs on SUI. It is one of the projects granted by the Sui Foundation, with a TVL of more than $37M, and a daily trading volume of nearly $2M.
Opportunities:
Yield Farming: FlowX offers a Farm as a Service feature, users can enjoy up to 200% APR on the SUI/FLX pool, and nearly 100% APR on the SUI/wUSDC pool. The APR can go up way higher on their partner yield aggregator, SuiPearl.
FLX & xFLX token: FlowX has a duo-tokens system, users can have multiple options to earn profit. FLX can be used for speculation, or provide liquidity with 200% APR on SUI/FLX. xFLX can be single-staked to earn up to 65% APR on their platform.
LaunchpaX: You can also choose to join FlowX launchpad, aka LaunchpaX. Most recent projects launching on the FlowX platform have an ATH ROI of up to 9x.
🔴 Turbos Finance
Turbos Finance, one of the fastest-growing projects on Sui in recent months, is a highly efficient, non-custodial decentralized exchange. It is endorsed by Mysten Labs, the creators of Sui, and Jump Crypto, a well-established trading firm. Turbos stands out with its CLMM DEX model, which enhances capital efficiency for liquidity providers and mitigates impermanent loss, addressing common concerns for LPs.
Opportunities:
Yield Opportunities: Turbos offers impressive yield opportunities for liquidity providers, such as around 150% on SUI/USDC and approximately 70% on USDT/USDC. However, LPs should be aware of associated risks and consider stable pools.
TURBOS Token: Staking TURBOS contributes to the exchange's liquidity, earning users trading fee rewards. Holding TURBOS also provides discounts on trading fees, incentivizing long-term users. If you believe in the platform's potential, TURBOS might be a suitable choice.
⚫️ Aftermath Finance
Aftermath, often dubbed the Jupiter of Sui, draws parallels with Jupiter being the Aftermath of Solana according to a meme. Developed by the team behind liquid staking on Sui, Aftermath is a decentralized exchange (DEX) aiming to provide a centralized exchange (CEX)-like user experience for trading, swapping, and earning yield by supporting multi-asset pools. It minimizes price discrepancies for trades across various assets and offers a liquid staking derivative, afSUI, for use in DeFi or deposited into pools in their exchanges for additional rewards. Aftermath aspires to become an all-in-one platform with products like perpetual (perps) and NFT support. Despite not having a token yet, Aftermath presents opportunities for enthusiasts to explore, with the potential for a token in the future.
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