Sui Turns One: Debut Year of Growth and Tech Breakthroughs Puts Sui at Forefront of Web3

Grand
Cayman,
Cayman
Islands,
May
3rd,
2024,
Chainwire

Protocol
launches,
growth
trajectory,
and
industry-leading
technology
point
toward
more
success
to
come

On
the
first
anniversary
of
Sui’s
Mainnet
launch,
the
Sui
community
is
celebrating
a
landmark
year
that
saw
it
rise
from
a
nascent
ecosystem
to
the
top
tier
of
Layer
1
blockchains,
amassing
household
name
partners
and
shipping
multiple
technology
breakthroughs
in
the
process.
In
the
build-up
to
its
launch
in
2023,
the
chatter
around
Sui
reached
a
level
of
excitement
that
has
not
been
matched
by
any
chain
that
has
launched
since.
The
first
anniversary
of
Sui
represents
a
culmination
of
the
remarkable
milestones
achieved
by
the
network
in
its
first
year.

While
centralized
institutions
face
growing
public
distrust
due
to
decades
of
anti-competitive
and
anti-consumer
behavior
and
legacy
blockchains
lack
the
speed
and
technology
to
solve
the
problem,
in
a
single
year,
Sui
has
emerged
as
the
decentralized
solution
most
capable
of
disrupting
the
status
quo
at
scale.
The
innovations
of
Sui
begin
with
Sui’s
novel
programming
language,
Move,
which
was
created
by
Mysten
Labs
Co-founder
and
CTO
Sam
Blackshear.
Move
introduced
a
new
architecture
centered
around
objects,
enabling
performance
and
functionality
that
was
simply
not
available
on
existing
blockchains.
The
result
is
a
blockchain
that
is
singular
in
the
industry
—
the
universal
coordination
layer
for
intelligent
assets.

“Like
many
transformative
innovations
before
us,
we
knew
the
problem
we
had
to
solve
and
built
the
technology
to
solve
it
without
applying
labels,
but
a
year
after
launch,
it
is
clear
that
Sui
is
a
vibrant
developer
ecosystem,”
said
Evan
Cheng,
Co-founder
and
CEO
of
Mysten
Labs.
“Developers
are
taking
advantage
of
Sui’s
performance,
and
its
scalable,
composable,
on-chain
storage,
and
native
accessibility
features
to
build
sustainable
business
models
with
a
consumer
ownership-first
approach.
While
the
Network’s
achievements
to
date
are
remarkable,
the
road
to
onboarding
the
next
billion
users
to
web3
has
just
started.”

Technology
innovations

The
results
Sui
has
achieved
have
validated
the
team’s
approach.
In
addition
to
not
experiencing
a
single
minute
of
downtime
or
instance
of
degraded
performance
since
Mainnet
launch,
in
the
last
12
months,
Sui
has
achieved:

• 
  Lightning-fast
  transaction
  speeds
  —
  time
  to
  finality
  clocked
  at
  just
  400
  milliseconds
• 
  Massive
  scale
  —
  297,000
  peak
  TPS
  in
  a
  controlled
  environment
• 
  Record-setting
  Mainnet
  performance
  —
  65.8M
  transactions
  executed
  in
  a
  single
  day,
  the
  most
  of
  any
  blockchain
  ever
• 
  Extremely
  low
  fees
  —
  predictable,
  stable
  transaction
  fees
  even
  during
  high
  usage

Yet
technology
improvements
are
a
constant
at
Sui.
In
recent
weeks,
including
at
its
first
global
in-person
conference,
Sui
Basecamp,
Sui
unveiled
Mysticeti,
which
significantly
shortens
Sui’s
end-to-end
time
to
finality,
and
Pilotfish,
which
enables
nearly
unlimited
horizontal
scaling
by
enabling
individual
validators
to
use
multiple
machines
to
extend
their
capacity.

Sui
has
also
introduced
unique
implementations
of
technologies
that
make
adoption
easier
and
make
the
blockchain
accessible
to
mainstream
users,
both
at
the
enterprise
and
retail
levels.
zkLogin
is
on-chain
authorization
with
traditional
OAuth
providers
like
Google
and
Twitter,
allowing
all
users
to
directly
operate
on-chain
with
the
single
sign-on
process
they
have
become
accustomed
to,
removing
the
hurdle
of
managing
wallet
addresses
and
seed
phrases.
zkSend
is
an
application
exclusive
to
Sui
that
utilizes
zkLogin
to
enable
users
to
send
and
claim
tokens
simply
by
sharing
or
clicking
a
link.
Sponsored
transactions,
enabled
by
Sui’s
extremely
low
fees,
empower
builders
to
remove
a
final
hurdle
for
engagement.
Finally,
Enoki,
which
was
announced
at
Sui
Basecamp,
removes
requirements
for
enterprises
looking
to
incorporate
blockchain
technology
with
a
turnkey
solution
that
gives
them
access
to
build
seamlessly
on
Sui.

“The
rate
at
which
the
ecosystem’s
deep
and
talented
developer
community
has
shipped
powerful
protocols
and
industry-first
technology
breakthroughs
has
been
breathtaking,
and
it’s
only
a
year
in,”
said
Adeniyi
Abiodun,
Co-founder
and
CPO
at
Mysten
Labs.
“Sui’s
purpose
is
to
redefine
how
individuals
and
businesses
collaborate
to
create,
grow,
and
share
value
in
a
digital-first
economy
and
since
its
mainnet
launch,
Sui
has
demonstrated
important
and
unique
capabilities
in
that
regard.”

Network
momentum
–
Sui
is
a
destination
for
DeFi,
Gaming
and
Commerce

Also
owing
to
the
strength
of
the
network
and
especially
notable
for
an
ecosystem
so
early
in
its
development,
Sui
has
quickly
become
one
of
the
preeminent
destinations
for
DeFi
activity.
Within
9
months
of
its
Mainnet
launch,
Sui
ranked
in
the
Top
10
of
all
blockchains
in
TVL.
A
month
later,
Sui’s
DEX
volume
also
achieved
top
10
status.
Throughout,
Wormhole
stats
show
Sui
as
a
top
destination
for
bridging
from
Ethereum,
including
over
a
30-day
period
where
Sui
saw
more
inflows
than
all
other
blockchains
combined,
and
more
than
twice
as
much
as
the
next
closest
blockchain.
In
each
of
these
cases,
Sui
eclipsed
numerous
well-known
networks
that
have
existed
for
far
longer.

Builders
and
enterprises
integrating
with
Sui
are
also
adding
to
the
growing
momentum.
Bluefin,
a
derivatives
exchange
that
had
already
executed
billions
in
transaction
volume
in
its
first
iteration
on
another
chain,
shut
that
integration
down
to
build
on
Sui.
Solend,
a
leading
lending
protocol
on
Solana,
chose
Sui
for
its
first
integration
beyond
its
initial
network,
launching
the
Suilend
protocol
which
has
already
amassed
over
$30M
TVL.
Additionally,
First
Digital
Labs,
creator
of
FDUSD,
the
fastest-growing
stablecoin
in
crypto
with
over
$4B
in
market
cap,
chose
Sui
for
its
first
expansion
since
its
launch
on
Ethereum
and
BNB.

“As
we
mark
the
first
anniversary
of
Sui’s
launch,
the
growth
and
innovation
within
the
Sui
ecosystem
have
been
sensational
and
Sui
has
quickly
ascended
to
the
forefront
of
Layer
1
blockchains,”
said
Greg
Siourounis,
Managing
Director
of
the
Sui
Foundation.
“Sui’s
global
footprint
has
continued
to
expand
at
a
remarkable
rate
as
more
and
more
builders
see
Sui
as
the
best
platform
for
enabling
real
world
solutions
aimed
at
addressing
the
world’s
most
pressing
challenges.”

Gaming
is
another
focus
for
Sui
that
will
continue
in
the
coming
months
and
years.
With
low,
predictable
fees
that
allow
game
developers
to
build
with
confidence
and
dynamic
objects
that
make
games
built
on
Sui
more
expressive,
Sui
is
the
optimal
blockchain
for
gaming
studios.
Dozens
of
development
teams
are
currently
building
games
on
Sui,
including
established
studios
such
as
NHN
(Pebble
City),
ONBUFF
x
SNK
(Samurai
Shodown),
NDUS
Interactive
(Xociety),
Orange
Comet
(The
Walking
Dead:
Lands),
and
Ambrus
Studio
(E4C:
Final
Salvation).
Leading
professional
esports
team,
Team
Liquid,
will
leverage
Sui
for
the
relaunch
of
its
fan
loyalty
program,
and
at
Sui
Basecamp
in
April,
Sui
joined
gaming
infrastructure
developer
Playtron
in
announcing
SuiPlay0X1,
the
first
handheld
gaming
device
with
native
blockchain
capabilities
to
wide
acclaim.

Other
notable
ecosystem
partnerships
achieved
in
Sui’s
first
year
include
those
with
Alibaba
Cloud
and
Google
Cloud,
which
focused
on
enhancing
security,
scalability,
developer
tools
and
user
experiences
across
a
range
of
Web
3.0
and
AI-powered
applications.
BytePlus,
the
web3
arm
of
ByteDance,
partnered
with
Sui
ecosystem
partner
Mysten
Labs
to
explore
collaboration
on
data
warehousing,
AI
recommendation
algorithms,
and
AI
visual
algorithms
in
web3
game
platforms
and
socialFi
projects
on
Sui.

The
crowds
that
gathered
for
Sui
Basecamp
2024
represented
the
culmination
of
Sui’s
arrival,
as
over
1,000
projects,
partners,
investors
and
enthusiasts
from
65
countries
around
the
world
came
to
Paris
in
April
to
celebrate
Sui
at
the
vaunted
Layer
1’s
inaugural
global
conference.

Contact

Sui
Foundation

[email protected]