The Sui Network ($SUI) and its ecosystem have been on fire. And not just recently….. During the last six months, they have been on fire. After every dip, they always come back as one of the strongest performers. On one side, Sui keeps pumping out exciting news. How about this groundbreaking feature? It lets you connect with anyone using video, audio, or text — all with total privacy! Or that Binance now offers to send or receive $USDC on Sui.
On the other side, its ecosystem keeps growing. TVL saw an incredible upside and Sui DeFi protocols keep bringing new partnerships. For example, Navi Protocol is now partnered with Ondo. And I’m going to take a closer look at three Sui ecosystem protocols, including Walrus.
Walrus Protocol ($WAL)
Walrus Protocol ($WAL) is about to launch its mainnet next month. It’s a decentralized storage solution, from the Mysten Labs team. That’s the same team that’s behind Sui, Deepbook, and the Sui Wallet. With its mainnet, we should also see the launch of their $WAL token.
???? We’re excited to announce Walrus Mainnet is coming in March!
We’re also excited to introduce WAL: The Utility Token Powering Walrus ????
WAL is designed to drive decentralized storage on Walrus, ensuring competitive pricing, security, and governance for data storage at scale.… pic.twitter.com/SAeyjipr3L
— Walrus ????/acc (@WalrusProtocol) February 19, 2025
Early users of their testnet already received their $WAL airdrop allocation. This is a soul bound NFT. In other words, you can’t send it to another wallet.
????BREAKING ???? Users eligible for the Walrus User Drop have begun receiving the Walrus Airdrop NFT in their wallets, giving them a claim to a set number of WAL tokens which will be redeemable at Walrus Mainnet launch via https://t.co/BEjdUIlMZK.
This initial airdrop represents 4%… pic.twitter.com/WgHt7PfK26
— Walrus ????/acc (@WalrusProtocol) February 19, 2025
Walrus is now seeing an increase in other projects that chose them for their storage option.
- 3DOS, a DePIN project.
- Linera, a Layer 1 chain.
- Talus Network, an AI agent.
- 7K, the aggregator. Walrus secures the front end running.
- Haedal will offer liquid staking. There will be a $haWAL liquid staking token.
- Tusky, a decentralized storage maxi. It moved from Arweave to Walrus.
- One Comics, they’re Asia’s largest martial arts media platform.
So, we see a steady increase in protocols that partner with Walrus Protocol.
Walrus Compared to Other Decentralized Storage Protocols
We can also compare Walrus to other existing decentralized storage options. Advantages of Walrus are, among others,
- It is more cost-effective and secure.
- Walrus achieves programmable decentralized storage through the Sui Network. This means that it offers functionality beyond basic data storage. You can transfer stored data to other users.
- You can delete or modify data. Arweave, for example, doesn’t allow this. On Filecoin, your data gets deleted when your contract expires.
— Four Pillars (@FourPillarsFP) February 17, 2025
When you store data on Sui, you need to pay storage costs. Walrus isn’t exempt from this. Part of these fees are burned. In other words, Walrus makes $SUI deflationary. The more data we store in Walrus, the more $SUI gets burned.
So, keep an eye out on Walrus and its $WAL token launch. It may become an absolute killer token, like $DEEP turned out to be. That’s Deepbook’s token, also from the Mysten Labs team. And that’s up now, let’s take a look at Deepbook.
Deepbook ($DEEP)
Deepbook ($DEEP) is another project by Mysten Labs. However, if you’re looking to find the Deepbook app, I need to disappoint you. Deepbook has no UI. How is that possible if it claims to be the ‘backbone of Sui DeFi liquidity’?
Advanced trading needs data
Tokenized assets demand seamless matching
DEXs rely on deep liquidity
DeFi derivatives require precision
All on DeepBook—the first programmable order book blockchain.
— DeepBook Protocol on Sui (@DeepBookonSui) February 21, 2025
Well, many Sui ecosystem DeFi apps run Deepbook on their app. But in the background. So, most of the time you don’t even know that you’re using Deepbook. Nonetheless, Deepbook has quite an impressive ecosystem. For example,
- Aftermath
- Kriya
- Cetus
- Flow Finance
- Hop aggregator
- Turbos
- 7k
They all use Deepbook, and a lot more projects are in the pipeline. This currently represents around 25% of all TVL on Sui.
Another advantage that Deepbook offers is an orderbook. In DeFi, that’s not a given. For example, an AMM (automated marker maker) works with liquidity pools. Deepbook allows you to use DeFi platforms with a similar UI as you’re used to when using a CEX. For example, it offers limit orders.
This orderbook is a CLOB or a decentralized central limit order book. A CLOB matches buyers and sellers. For instance, Binance or Coinbase also use CLOBs. Or how about the NYSE, the New York Stock Exchange?
The @$DEEP TGE and Airdrop
The $DEEP token TGE (token generation event) was also very successful. Within a week, it did a 5x. The launch was in October 2024. It went from under 2 cents to just over 8 cents. Its current ATH is 34 cents, which was about a month ago. That’s a 19x. There was a generous airdrop, so if you held on to that, you did well.
The current $DEEP price is 14 cents with a 356 million market cap. Out of the 10 billion tokens, 2.5 billion circulate. Look at how strong $SUI and $DEEP have been coming back after dips. This is a great entry point.
Cetus Protocol ($CETUS)
Cetus Protocol ($CETUS) is the seventh-biggest project by market cap in the Sui ecosystem. In TVL, it takes third spot and is the DEX with the highest TVL. It works on both Sui and Aptos, since both make use of the Move coding language.
Besides being a DEX, it offers a novel approach with its concentrated liquidity model. It allows you to add their liquidity within custom price ranges.
This contrasts with most other DEXes. They distribute your liquidity uniformly. In other words, they use the entire price curve. To an extent, this wastes provided liquidity. With Cetus, you can use the full range by customizing it.
You can swap with limit orders or use the DCA (Dollar cost average) feature. In the meantime, Cetus uses the Deepbook CLOB (Central Limit Order Book) in the background.
Cetus also allows you to stake your $CETUS. You get $xCETUS in return. The APR fluctuates, depending on the $CETUS price and the real-time value of the rewards. Currently, it’s around 31%. The weekly rewards you receive are in $SUI, $CETUS, and $USDC.
Cetus also recently introduced flash loans. This allows you to borrow large amounts of crypto without collateral. However, you need to pay the loan back within the same transaction. You can use them, for example, for arbitrage.
???? NEW FEATURE ALERT! ????
Cetus now supports Flash Loans on @SuiNetwork! ⚡️With #Cetus‘s CLMM-based Flash Loans, you can access instant, permissionless liquidity to unlock more trading & arbitrage opportunities and DeFi strategy possibility — all without needing collateral… pic.twitter.com/WzPFSVhBMu
— Cetus???? (@CetusProtocol) February 19, 2025
There’s still plenty of growth possible for $CETUS. The current $CETUS price is 12 cents with an $81 million market cap. 66% of the 1 billion max token supply already circulates. So, these are good tokenomics.Are you familiar with any of these Sui ecosystem platforms? If so, which one is your favorite? Let me know in the comments and join our discussion on Discord and X.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Walrus.
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Tama Wiers