Sui Incentivized Testnet
Similar to Aptos, Sui also launched a validator selection program for the network. Users participating in running full nodes of testnet rounds up to mainnet time will be rewarded with SUI tokens.
However, the time of the first announcement is July 2022, but a month later is the time to open the official application.
Series B round
Sui announced on September 8, 2022 its most recent Series B funding round, which raised a total of $300 million. This funding round was led by FTX Ventures, with a16z, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture, and others participating.
The funds will be used to build the ecosystem, infrastructure, and team for the project (mainly in the Asia Pacific region). However, there is still no indication that Sui will spend money in Q3; perhaps this is not the optimal time for the project.
Not inferior to Aptos, Sui’s total funding through two rounds has reached 336 million USD, and the company is also valued at 2 billion USD.
Sui Wallet
In contrast to Aptos, the Sui project team (Mysten Labs) developed a native crypto wallet for the ecosystem independently. However, the project continues to open-source Sui Wallet’s source code, allowing other wallet or dapp projects to use Sui Wallet as a deployment reference for the Sui network.
Ecosystem
DEX/AMM
- MovEX - First AMM build on Sui Blockchain
- SuiSwap and KX Finance
Lending & Borrowing
Update
NFT
- Sui Gallery is the first NFT Marketplace on the ecosystem
- BlueMove is a multichain active project, already present on both Sui and Aptos
Wallet
- Coin98 Super App, Ethos Wallet, Suiet Wallet, Hydro Wallet
Name Service
- Sui Names, Sui Name Service, SuiNS
Game
Update
Launchpad
- Suipad and Atlantis Launch
Conclusion
We witnessed the explosion of the Aptos ecosystem in October, so there is no reason to believe that Aptos’ direct competitor, Sui, will not experience a similar boom.
Stay tuned for additional information in upcoming posts