Sui showcased remarkable growth and innovation in 2024, becoming a star project in the blockchain industry.
Starting from early 2024, despite the Sui mainnet being live for less than a year, DeFi activities have already shown tremendous potential. So far this year, Sui and its community have repeatedly demonstrated their strength in DeFi growth, global activities, and continuous technological optimization. Developers have utilized Sui's superior features to build ideal projects, while new developers have discovered the friendliness and usability of the Sui ecosystem, easily embarking on their Move programming journey.
Here are 17 milestones worth celebrating in the Sui ecosystem in 2024; see how many you recognize:
February 4: TVL Surpasses $500 Million
Less than a year after the Sui mainnet launch, various DeFi protocols propelled Sui's TVL to reach $500 million, placing it among the top ten blockchains. This growth indicates the immense appeal of the Sui environment for DeFi projects.
March 1: Stablecoin USDY Launches on Sui
Ondo Finance launched USDY, a yield-stablecoin, bringing the first dollar-pegged token to Sui, showcasing financial institutions' trust in Sui.
March 19: Sui Game Summit
During the Game Developers Conference in San Francisco, Sui held a gaming event to showcase upcoming games and attract developers to the Web3 world.
Read more: https://twitter.com/SuiNetwork/status/1773465526079263079
April 3: Move 2024 Beta Released
The Move programming language launched its 2024 version, adding new features such as method syntax, field positions, and loop labels, providing developers with more possibilities.
April 10: Sui Basecamp Held
During Paris Blockchain Week, Sui held a two-day annual flagship event, attracting over 1,100 participants from 65 countries to witness innovative technologies in the blockchain field.
April 21: Sui Overflow Hackathon
Sui hosted the largest global hackathon to date, lasting two months, with 352 projects submitted and 32 winning teams across 8 major tracks.
May 3: Mainnet One-Year Anniversary Celebration
Sui celebrated the one-year anniversary of its mainnet launch, with first-year achievements including technological breakthroughs like zkLogin and DeepBook, as well as a single-day transaction volume reaching 65 million.
June 18: Walrus Launch
Mysten Labs announced the decentralized data storage network Walrus, positioning Sui as a coordination layer and playing a significant role in the data network revolution.
August 6: Mysticeti Announced
Although Sui already possesses innovative transaction processing capabilities, the engineering team introduced the Mysticeti consensus mechanism, further enhancing performance, especially in low-latency processing of shared object transactions.
September 2: SuiPlay0X1 Released
During Korea Blockchain Week, Sui launched the first mobile device supporting Web3 games, SuiPlay0X1, which connects players' game assets, providing an ultimate gaming experience.
September 5: Stablecoin AUSD Launches
Agora's dollar-pegged stablecoin landed on Sui, providing DeFi users with new trading and exchange options, further enriching Sui's stablecoin ecosystem.
September 29: TVL Surpasses $1 Billion
Driven by top DeFi protocols and users, Sui's TVL reached $1 billion, showcasing users' trust in Sui and its appeal due to low fees and fast transactions.
As of this article's publication, Sui's TVL has surpassed $1.7 billion.
September 30: Sui Bridge Launched
Sui developed a brand new native cross-chain bridge, supporting cross-chain swaps between SUI and ETH, with plans to support more assets and blockchains in the future.
October 8: Stablecoin USDC Launches
The well-known stablecoin USDC landed on Sui, with Circle ensuring its 1:1 peg to the dollar, bringing more liquidity options to Sui.
October 14: DeepBook Launches DEEP
The launch of DEEP not only marked the token's debut but also introduced a new governance model for Sui's liquidity layer DeepBook, allowing users to vote on rule-making.
November 14: SuiNS Decentralized
SuiNS has transitioned to a community-run decentralized organization and launched the NS governance token for governance and liquidity.
November 20: FDUSD Launches
The stablecoin from First Digital Labs has become a native asset on Sui, marking the fourth stablecoin of 2024 and further demonstrating financial institutions' trust in Sui.
Future
Exciting Continuation
Let us together continue to write the exciting chapter of the future development of the Sui ecosystem…
Looking Ahead
Just like a snowball getting bigger or a katamari absorbing everything around it, Sui's growth will continue and accelerate in the coming years. 2025 will see the official release of many announced projects and games. As more developers discover Sui and realize its infinite possibilities, new projects will continue to emerge.
With the increase in on-chain activities, DeFi will also grow, supported by a series of innovative protocols already in operation and the increasing interest from financial institutions. The Sui community will gather at events around the world to exchange ideas, collaborate, and build valuable connections.
Get ready for an exciting 2025!
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