Sui TVL ranks among the top ten in the entire chai

According to DefiLlama data, Sui TVL exceeded US$402 million on January 28, ranking among the top ten TVL of all blockchains!

Sui's innovative application-native features pave the way for DeFi applications and provide users with a great experience. Every native feature, from facilitating efficient shared liquidity to simplifying user interactions, plays a vital role in shaping Sui DeFi.

Looking at the core of these native functions one by one, you will find their significant impact on DeFi applications. When considered together, their unique ability to enhance user engagement and experience within the Sui DeFi space becomes even more apparent.

DeepBook

DeepBook is an important component of Sui DeFi, a protocol designed for efficient shared liquidity among multiple applications. As a Central Limit Order Book (CLOB), DeepBook systematically records the quotes of buyers and sellers in chronological order and autonomously identifies matches between the two to achieve smooth transaction execution. With Sui's high performance, applications can leverage DeepBook to execute transactions with low latency and high throughput. As a native protocol within the Sui ecosystem, DeepBook seamlessly provides DeFi applications with access to massive liquidity through simple integration, easily meeting the needs of market and limit orders.

DeepBook efficiently stores unfilled pending orders in the pool and deletes them after they are successfully matched with the corresponding orders. DeepBook provides the possibility to create a liquidity pool for any asset pair in a permissionless manner. As the first native liquidity layer on Sui, it takes full advantage of Sui’s powerful network layer and unique data model, thereby simplifying the process of developing DeFi applications within the Sui ecosystem.

zkLogin

zkLogin is a solution for new users to explore the challenges of getting started with blockchain applications. The lack of a streamlined onboarding process often creates barriers for first-time users of blockchain applications, resulting in significant onboarding churn. In contrast, zkLogin simplifies the process by enabling users to securely create accounts and conduct transactions using their existing Web2 login credentials.

zkLogin provides developers with the flexibility to provide invisible wallets that abstract users from interacting with the blockchain, or provide an easier path for users to access their on-chain assets. It integrates seamlessly with existing account types such as mnemonic phrases and hardware wallets, catering to both beginners and experts based on user preference. This versatility increases the accessibility and user-friendliness of DeFi applications within the Sui ecosystem.

As an important component of Sui, zkLogin empowers application builders to provide the best user experience, catering to individuals who prefer to use Web2 login. zkLogin improves accessibility and usability, promoting a more inclusive environment among users using DeFi applications within the Sui ecosystem.

Sponsorship deal

Sui solves the challenges surrounding blockchain gas fees by introducing sponsored transactions. Requiring new users to pay fees using the underlying blockchain’s native token can lead to unnecessary user friction. For users who are not familiar with blockchain applications, they may give up immediately.

Sponsored transactions remove the entry barrier associated with gas fees, allowing applications to fund specific user transactions and abstracting gas fees from the end user experience. Sponsorship transactions on Sui provide granular control over gas fee sponsorships, providing unique incentives for application developers to increase user engagement and reduce friction for users who are new to the blockchain. While placing the responsibility for gas fees on the application rather than the user may seem like an unlikely business model, it provides builders with flexibility in determining the revenue model that works best for them.

Programmable transaction block

Programmable Transaction Blocks (PTBs), as a native function of Sui, provide unique possibilities for composability and greatly simplify the interaction between end users and the blockchain. Unlike traditional approaches that require multiple transactions to be submitted to perform a simple operation, PTBs make it possible to bundle, sign and submit a series of complex transactions in a unified process. Each command is executed sequentially, allowing the results of one command to be used in subsequent commands, ensuring a coordinated and atomic process where if one command fails, the entire block fails.

PTBs significantly improve the experience for application developers and end users, simplifying and consolidating complex transactions. This capability allows for the creation and execution of unique DeFi strategies involving multiple applications and interactions within a single transaction block. As a powerful tool, PTBs contribute to a seamless and user-friendly blockchain experience, providing a streamlined way to streamline interactions within Sui’s DeFi ecosystem.

Kiosk

Sui's native Kiosk functionality enables users to maintain full control over their assets while they are listed for sale. When selling an item such as an NFT, users are typically required to give up certain ownership-related permissions. For example, an NFT owner may wish to retain access to functionality associated with ownership while listing it for sale. Kiosk not only facilitates the transfer of digital asset ownership, but also enables creators to define specific policies for asset types. This includes custom trading features such as auctions, providing a versatile solution for users looking to seamlessly interact and trade their assets.

In essence, Kiosk is a simple and highly customizable tool for building and participating in business applications on the blockchain. Similar to a real-world Kiosk that is owned by a single owner and has designated space for various items, Kiosks simplify the process of trading unique assets. Whether for individuals or large markets, Kiosk provides a one-stop solution that eliminates the need for additional layers or third-party services typically required on traditional networks and some other blockchains.

Improve DeFi experience

A deep dive into Sui’s app-native capabilities reveals how DeFi apps on Sui can deliver a powerful user experience. Applications can leverage DeepBook to achieve instant access to deep liquidity and a variety of trading capabilities. zkLogin and sponsored transactions remove important blockchain adoption barriers such as wallet and gas fees. PTBs provide powerful composability while simplifying user interaction. Finally, the self-service desk provides a unique approach to digital asset trading with powerful accessibility features.

The development of Sui is driven by the vision of providing the best experience for end users and developers. Sui's development focus on empowering app builders with Sui-native functionality is critical to realizing this vision. Stay tuned for upcoming improvements and new Sui-native features throughout the year. These are exciting times for Sui builders!

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