Sui tops $100m in bridged USDC
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
GRAND CAYMAN, Cayman Islands, Dec. 7, 2023, Chainwire
Sui, the layer-1 blockchain created by technology experts who led Meta’s Diem blockchain initiative and created the Move smart contract language, surpassed $100 million in bridged USDC this week.
Sui has also achieved significant milestones in decentralized finance (defi), surpassing $175 million in total value locked (TVL) and ranking among the top 25 blockchains for daily and weekly transaction volume.
“Surpassing $100 million in bridged stablecoins represents yet another significant moment for Sui in defi and is a clear illustration of the remarkable success of the Sui community’s efforts to build a versatile and accessible ecosystem,” said Greg Siourounis, managing director of the Sui Foundation. “Coupled with the network’s recent surge in TVL, as well as performance measurements that show Sui operating at the forefront of web3 technology, this milestone positions Sui as a force driving the next generation of defi.”
Sui’s growth is driven by its decentralized ecosystem and independent builders. Seven projects have surpassed $10 million in total value locked (TVL), and 11 projects have exceeded the $2 million mark.
Sui recently invested in OtterSec and Zellic to enhance ecosystem security and reliability. Independent projects on the layer-1 platform can now access auditing services for success.
In November, $500,000 in grants were disbursed to support projects deploying on Sui.
These grants are for project teams that can drive the adoption of Sui and contribute to its expanding defi ecosystem.
For more information about the Sui Network, visit sui.io.
Contact
Sui Foundation
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
