Grand Cayman, Cayman Islands, November 30th, 2023, Chainwire – Sui, the Layer 1 blockchain and smart contract platform created by the team that emerged from Meta’s Diem Blockchain project, has achieved tremendous growth since its mainnet launch just six months ago. According to leading DeFi aggregator DefiLlama, Total Value Locked (TVL) has surpassed $150 million, placing Sui within the top 20 blockchains. This milestone reflects the increasing demand for the platform’s unique, native technology and the support of a dedicated community.
Sui’s growth hasn’t been limited to TVL, as it has also surpassed $100 million in bridged stablecoins and Bitcoin in total historical on-chain transaction count. The blockchain’s capacity for scalability and efficiency is further highlighted by its new record for the most transactions processed in a single day by any blockchain ever.
“To reach this level of adoption within months of the network’s mainnet launch is remarkable and bodes extremely well for the future of this burgeoning DeFi ecosystem,” said Greg Siourounis, Managing Director of the Sui Foundation.
The network of independent DeFi projects is further contributing to the platform’s success; for example, Cetus, a leading DEX and concentrated liquidity protocol, has surpassed $1 billion in total transaction volume. In addition, Sui recently entered into a partnership with technology incubator Hub71, which is based in Abu Dhabi and has committed to introducing UAE-based startups to the Sui ecosystem.
With its object-centric model and unparalleled scalability, Sui’s potential for mass adoption is rooted in its simplicity for developers and rapid transaction processing. To learn more about the network, visit https://sui.io.
Contact: Sui Foundation – [email protected]
