Sui Space Time 5 — Social Graph, DeFi and Airdrop

Welcome to the 5th edition of Sui Space Time, your rapid-fire update on the Sui ecosystem.

In this edition, we unpack key events including Releap’s $2.1M funding round, Navi’s mainnet launch, and Bullshark Quests 2, now live with a $5M $SUI pot.

Exploring Sui’s Defining Moments

Web3’s most scalable social graph Releap raises $2.1 M

A social graph is a mapping of people and how they are related to each other. Each user is a node in the graph, and each connection (following, etc) between users is an edge. The issue with current social platforms is that their social graphs are centralized and controlled by one entity. This means users don’t own their data and access to the data is very restricted.

Decentralized social graph like Releap solve this by giving users control over their data and opening the data for anyone to use it and build on top of it. This allows social applications to co-exist and take advantage of a collaborative database.

Applications are built on top of the protocol and allow users to interact with the open social graph. They have complete access to the graph, facilitating the acquisition of a user base. A few app are already live and in development:

• Releap App is similar to a Web3 Twitter leveraging sponsored transactions.
• SuiTube is a video sharing platform allowing users to curate channels.
• Quibbly is a Q&A platform like Stack Overflow or Quora.

Releap just raised $2.1M from renowned VCs and angel investors and launched on zkSync as well!

One-stop Liquidity Protocol Navi goes live on Mainnet

Navi enables users to borrow and lend top assets class within the ecosystem. Liquidity providers supply assets to the market, earning passive income through yields, while borrowers have the flexibility to obtain loans for different assets. The app also has a strong focus on UX with simplicity and security at its heart. Users will be able to interact via a lite or pro interface.

The protocol’s innovative features, such as Automatic Leverage Vaults and Isolation Mode, enable users to leverage their assets and access novel trading opportunities with minimized risks. It also improves risk management, with Isolation Mode, Debt Ceilings, Supply Limits, and Borrow Limits, allowing the platform to gradually add long-tail and exotic assets without compromising solvency risk.

The team is an official partner of Mysten_Labs and won the 1st place in DeFi during the Hackathon. They also collaborated with CetusProtocol, Turbos_finance, ABExFinance, KriyaDEX, TypusFinance, bucket_protocol, SuiNSdapp, coin98_wallet, moledefi and more.

Bullshark Quests 2 are live with 5M $SUI to share

Interact with 4 DeFi protocols to be able to claim $SUI when the event ends

• Navi Protocol allows you to provide liquidity to generate yield and borrow assets in a simple and friendly way.
• Turbos Finance is Concentrated Liquidity Market Maker (CLMM). Swap tokens and provide liquidity on the DEX.
• Scallop also proposes lending & borrowing as well as programmable transaction blocks’ tools. I’d recommend you to try everything on the dapp.
• Typus Finance combines swap, lending, and derivatives protocols to create an options marketplace for long-tail assets. Give it a try.

Consuming the News Capsule

• SuiFoundation announced the winners of the SuiNetwork x KCLabsOfficial Hackathon
• CetusProtocol launched Order Split
• surf_wallet multisig is now live on mainnet
• Sui reached 500M total transactions
• ShinamiCorp gas station facilitated 1M+ sponsored transactions
• $XUI staking live on YouSUI_Global
• SuiFoundation has terminated its partnership with MovEX (core developer of DeepBook) due to violation of its contractual lockup
• As a result of SIP 6, a protocol upgrade enables liquid staking on testnet
• panzerdogs S1 Pass is now available
• Quests 1 rewards can now be claimed
• sui_daiya incentivized testnet is live
• data can now be exported from @staketab suiscan
• expand_network integrated Sui
• Sui flips Solana and Ethereum in Daily Active Addresses

As we wrap up this week’s edition, it’s undeniable that the vitality of the Sui ecosystem is escalating, powered by innovative partnerships and breakthroughs. It’s particularly thrilling to witness how Bullshark Quests are supercharging the numbers and sparking activity spikes across the ecosystem.

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