The Sui Network Ecosystem (end of year 2024) – A Look at DeFi, NFT, GameFi, and Memecoins

One of the hottest ecosystems right now, the Sui Network is gaining significant traction, especially among those seeking early-stage opportunities in DeFi, NFTs, and even memecoins.

1. DeFi

The Sui ecosystem’s Total Value Locked (TVL) has surpassed $1 billion, according to DeFiLlama. Lending and borrowing protocols are the main drivers of this growth.

Projects like Navi and Scallop offer high Annual Percentage Rates (APRs) in $SUI, along with the potential for airdrops. Suilend, a promising lending protocol that is still in its early stages, is worth exploring.

While Navi, Suilend, and Scallop dominate the TVL landscape, the incentives for lending have begun to decrease, resulting in lower APRs.

In the Automated Market Maker (AMM) space, Deepbook is the major liquidity provider to watch. Other projects like Cetus and Turbos are well-established, while Aftermath holds promising potential.

2. NFT/Gaming

Sui’s infrastructure is well-suited for the development of gaming and NFT projects. However, the ecosystem is still in its early stages.

There are many exciting projects to keep an eye on, including:

• Xociety
• LuckyKat Studio: (Known for NFT projects like Kumo, and games like Cosmocadia and Panzerdogs)
• Mirai Studio
• Blockus
• PlayGround
• Capsule

NFTs are often integrated into the games developed by these studios.

3. Memecoins

As with any booming ecosystem, Sui has witnessed the emergence of memecoins. Blub, for example, saw a remarkable 23,686% increase from its low point. Other noteworthy memecoins include HIPPO, FUD, AXOL, LIQ, and SCB.

Due to the rapid emergence of new memecoins, those who follow closely can potentially capitalize on early opportunities.

4. Conclusion

The Sui ecosystem is still young, with a relatively small number of projects. However, this presents an opportunity for investors to discover promising early-stage projects.

The author, who profited from their investment in a Sui launchpad project, emphasizes the importance of thorough research into tokenomics and project fundamentals, especially in the current market environment where rug pulls and slow rugs can pose risks.

Important Notes:

• Disclaimer: This information is intended for educational purposes only and should not be interpreted as financial advice. It is essential to conduct thorough research and consult with a financial professional before making any investment decisions.
• High Risk: Investing in early-stage projects on emerging networks like Sui carries inherent risks.
• Community Awareness: It’s important to be aware of community sentiment and any potential red flags within the projects you’re considering.

Remember, due diligence is crucial when exploring any new investment opportunities.