News Report:
Deepbook Goes Live with 7x Rally, SuiNS TGE Imminent, Walrus to Launch Token?
By Alex Liu, Foresight News
The Sui public chain is developed by Mysten Labs. The team members of Mysten Labs are mostly former employees of Facebook (Meta), Apple, and Microsoft. The founders include:
CEO: Evan Cheng
CTO: Sam Blackshear, Creator of the Move language
CPO: Adeniyi Abiodun, Co-founder of Sui and the most active member on the social platform
Chief Cryptographer: Kostas Chalkias
Chief Scientist: George Danezis
Mysten Labs aims to build the “Internet of Tomorrow,” with the Sui public chain as its core product. In addition to the public chain, they have also developed other protocols, such as the decentralized order book protocol Deepbook, which saw a 7x surge in its first week of launch, and other tools for institutions and users.
With such a strong wealth effect, let’s take a look at their products. First and foremost is the Sui public chain, which we won’t dwell on. Next, let’s talk about Deepbook.
Deepbook
Deepbook is a centralized order book protocol designed to improve the efficiency of DeFi trading and serve as the liquidity layer for Sui. Its distinctive features include:
High throughput: Built on the Sui network, Deepbook can process thousands of transactions per second, enabling fast trading.
Order matching: Supports advanced matching algorithms to achieve optimal trade execution, reduce slippage, and enhance liquidity.
Transparency and security: Ensures that all transactions are on-chain, promoting trust and accountability within the ecosystem.
Composable DeFi: Integrates with other DeFi protocols to foster innovation and expand user choices. Deepbook is commonly integrated with popular aggregators in the Sui ecosystem such as Hop, Aftermath, Cetus, and 7K.
Deepbook has just launched version 3 with the token going live. The adoption rate of the protocol is still in its early stages, with trading volume significantly lower than mainstream DEXes on Sui like Cetus. However, after the DEEP token went live, its Fully Diluted Valuation (FDV) reached over $900 million, surpassing the combined FDV of the aforementioned DEXes. It is on par with Scroll, which is currently in the spotlight. The contribution of the Mysten Labs team should not be underestimated.
Enoki
Enoki is an enterprise-oriented platform aimed at enhancing customer engagement through Web3 technology. Its features include:
Personalized interaction: Utilizes blockchain to provide customized experiences for customers.
Seamless integration: Easily integrates with existing systems, allowing businesses to enhance customer experiences without major changes.
Data ownership: Empowers customers by giving them control over their data, fostering trust and loyalty.
Innovative functions: Utilizes decentralized tools for loyalty programs, rewards, and community building activities.
For more details, we recommend reading: “Enoki: Sui Enhances Enterprise Adoption, Breaking Point for ‘Massive Adoption’? Sui Development Company Mysten Labs Launches Enoki – a SaaS Platform to Seamlessly Integrate Blockchain for Enterprises.”
Kiosk
Kiosk is a decentralized system for commercial applications on Sui. Its features include:
Shared ownership: Kiosk objects are owned by multiple parties, allowing them to store assets and list them for sale. Ownership remains with the seller until a purchase is made.
Customizable trading functions: Supports various trading options, including auctions, enabling creators to flexibly design their sales processes.
Custom strategies: Creators can set rules for each transaction, such as royalties or specific actions required during the transaction.
Kiosk is natively integrated into the Sui framework, allowing developers who want to enhance their business applications to use it.
SuiPlay
SuiPlay0X1 is the first Web3 gaming handheld console, heavily promoted by the Sui founding team. It is currently in the pre-sale stage and is expected to be shipped in the first half of next year.
In addition, the OG meme coin on Sui, FUD, has announced that it will airdrop the first batch of SuiPlay0X1 devices next year. The official page also indicates that there will be “exclusive rewards.”
What are the other features and specifications of the device? Is it worth buying? We recommend reading: “Priced at 599u, Is the SuiPlay Gaming Console Worth Buying?”
SuiNS
SuiNS is the digital identity protocol on Sui. It allows you to link avatars to domain names and create IPFS websites. SuiNS uses the “@” symbol instead of the traditional Web3 domain name format with “.sui,” allowing for simplified user recognition and promotion of subdomain adoption. For example, Google can distribute subdomains like user1@google and user2@google after purchasing @google.
SuiNS has airdropped NFT vouchers to domain name holders, which can be redeemed for tokens during the TGE. If you are eligible, you will see the prompt in your Sui Wallet. Following the precedent of Deepbook’s high valuation, the price of the NS token also holds great potential.
If you followed the instructions provided in the April article, you could have received tens of thousands of tokens. (Article review: “With the conference approaching and rumors swirling, Sui’s ecosystem welcomes a new round of airdrops?”)
Walrus
Decentralized storage network Arweave’s launch of the computing layer AO has successfully revitalized the AR coin’s price, ecosystem, and popularity, marking a comeback.
As a general-purpose computing chain, what kind of waves will Sui make with the launch of the decentralized storage network Walrus?
For more details, we recommend reading: “Decoding Walrus: Sui’s Decentralized Storage New Solution (Produced by the Sui development team, independent PoS chain, new governance token WAL, potential airdrop opportunities).”
