In the Sui DeFi, the decentralized exchanges Cetus and Aftermath Finance projects jointly announced the launch of a new incubator through the Sui Foundation.
By: Sui Network
Cetus and Aftermath will launch two new incubators to provide developers with expert-level technical, operational, and business advice, as well as financial support.
The decentralized exchanges Cetus and Aftermath Finance projects in the Sui DeFi jointly announced the launch of a new incubator to provide more feasible pathways for startups. These two DeFi projects have a long history on Sui and are currently ranked in the top five in terms of TVL since their launch on the mainnet last year. The persistence and success of these two projects enable them to provide crucial professional knowledge to new projects.
Projects entering the incubator will receive technical, operational, and business advice, accelerate funding, and receive additional support from the Sui Foundation. Both Cetus and Aftermath have played a crucial role in Sui becoming a top DeFi blockchain, achieving great success. The Sui Foundation will initially provide $2 million in funding to the incubated project teams and will further invest in high-level teams and projects.
Aftermath offers a range of DeFi services, including trading, staking, and cross-chain bridges. It achieved first place in last year's Sui Liquidity Staking Hackathon with its afSUI token. Liquidity staking allows users to utilize their staked tokens and has become one of Aftermath's core services. Its smart order routing technology relies on Sui's very fast settlement time, optimizing trading activities.
Cetus's DeFi services combine activities such as trading, liquidity pool contributions, and cross-chain bridges, with a TVL of over $150 million. It provides users with an interactive way to engage with Sui's first native liquidity layer, DeepBook. In addition to retail services, Cetus also provides so-called liquidity services, supporting integration with Sui applications.
The launch of these incubators transfers the governance of ecosystem investment to reliable developers who have supported Sui's progress and development from the beginning, representing an important step towards further decentralizing the Sui ecosystem.
Developers interested in taking their projects to the next level are welcome to apply for the Aftermath Incubator and the Aquarium Incubator on Cetus.
🌟 Aftermath Incubator: (Related link)
🌟 Cetus Aquarium Incubator: (Related link)
About Sui Network
Sui is a public L1 chain redesigned and built from first principles, aiming to provide a development platform capable of supporting the next billion users in Web3 for creators and developers. Applications on Sui are based on the Move smart contract language and have horizontal scalability, allowing developers to support a wide range of applications quickly and at low cost.
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