Sui Basecamp News Roundup

Sui Basecamp took place on the 1st and 2nd of May in Dubai. It not only brought the Sui community together, but it also brought plenty of hot Sui related news. The Sui team keeps building and delivering, and the ecosystem is not far behind. It turned out to be a successful meet up.

So, we’re going to take a closer look at what hot news came out of Sui Basecamp.

Suilend Introduces the STEAMM Token Launcher

Suilend ($LEND) is the most successful DeFi protocol on Sui. For example, it has the highest TVL in Sui’s DeFi ecosystem. Suilend’s origins are in lending and borrowing. However, it now also offers a swap, a Superfluid AMM with STEAMM, and LST’s (liquid staking tokens) with SpringSui. 

Source: STEAMM token launcher 

However, it’s STEAMM that has now introduced a brand-new token launcher. Now, anybody can launch a token in the ecosystem. It’s easy to use with a no-code flow. You can also deploy liquidity easily. Since it’s integrated with Suilend, any idle liquidity is redeposited into Suilend. Thus, it earns extra APR. 

 Source: X

Stacks Brings $sBTC to Sui

Stacks ($STX) brings its $sBTC to the Sui DeFi ecosystem. BTCfi is already successful on Sui. During Q1, BTCfi did a 4x. Sui managed to unlock almost $2 trillion in Bitcoin’s liquidity for its ecosystem. This allows you to earn yield, trade, or lend your Bitcoin. 

During Basecamp, Bitcoin’s TVL in Sui’s DeFi ecosystem managed to surpass $200 million. Now, Stacks is part of Sui’s BTCfi space. Stacks is a layer 2 on Bitcoin. Bitcoin DeFi is also on the rise, and Stacks plays an important role in this. Sui’s DeFi ecosystem is fast, scalable, and decentralized. It also offers low transaction costs. Ideal conditions for BTCfi.

Fireblocks Opens Institutional Infrastructure on Sui 

Institutional interest in Sui is growing. However, institutions enter the blockchain environment with a TradFi background. To help them ease into the crypto sector and DeFi, Fireblocks will give a helping hand. Fireblocks offers digital asset infrastructure for institutions. 

For example, Fireblocks offers secure custody. Something that may not sound as enticing to crypto degens. We prefer to keep things in our own control with non-custodial wallets. However, for institutions this works differently. They may welcome such services.

So, Fireblocks opens the gateways for institutions to enter Sui’s DeFi ecosystem. This gives them exposure to Sui-based tokens. Fireblocks will manage and store these tokens for interested institutions.

21Shares Files for a Sui ETF

Again, we have more institutional interest in Sui. This time, it’s 21Shares that filed an S-1 registration statement with the SEC. This is the first step towards a full Sui Spot ETF. Besides the S-1 filing, 21Shares will follow this up with a 19b-4 form. Once the SEC approves both filings, the Sui spot ETF is ready to go live.

This allows you exposure to $SUI through a registered broker. In other words, you don’t need to deal with buying and holding crypto assets. In this case, $SUI. Instead, the broker holds the $SUI tokens, and you buy shares in their ETF fund. A great way for institutions and retail to get $SUI exposure without the hassle of setting up wallets and seed phrases.

SuiPlay0X1 and the G-Dollar Stablecoin for Gaming

The SuiPlay0X1 handheld gaming device is going to be a game changer. First, the team managed to sell out all 10,000 units by pre-orders. During Basecamp, the first physical devices were on display. They proved to be an instant hit with all attendees. 

Currently, selected beta testers have already received their devices. Everybody else will have to wait until September before distribution starts.

Furthermore, Sui introduces the Game Dollar or G-dollar. This is a programmable stablecoin for gaming on Sui, including the SuiPlay device. You will be able to mint and trade this Game Dollar. This allows you to create dynamic, self-sustaining economies.

Claynorsaurz Are Coming to Sui

The Claynosaurz are a blue-chip NFT collection on Solana. We’ve recently seen plenty of integrations between Solana and Sui. For example, with the Phantom and Backpack wallets. Claynorsaurz is the next Solana project to dive into Sui’s ecosystem. 

It will have a new NFT collection of 25,000 going by the name of Popkins Unleashed. A mint date is to be announced but should be imminent. 

Source: X 

Claynosaurz sees itself as more than just an NFT collection. It rather thinks along the lines of an entertainment franchise. Like how Disney started their story in the 1920s with animated storytelling. Claynosaurz is ready to unleash the 21st century version.

Pudgy Penguins and Walrus

The Pudgy Penguins are another leading NFT project. Their team is working hard to establish their brand name. Their digital content library continues to grow. So, the Pudgy Penguins decided to store all their stickers and GIFs on Tusky. 

Now, as you may know, Walrus ($WAL) powers Tusky.  Walrus is Mysten Labs’ answer to decentralized storage. Mysten Labs is also the team behind Sui, Deepbook, and the Slush Wallet (formerly known as Sui Wallet). This is a great sample of Walrus’ ecosystem growth. See the picture below.

Source: X

Conclusion

Sui Basecamp recently took place in Dubai. We cover the news that came out of this Sui Basecamp.

The current $SUI price is $3.38 which is a 4.1% price increase for the day. With it, Sui’s ecosystem is also on fire. $SUI’s market cap is $11.4 billion. Out of a max and total supply of 10 billion $SUI tokens, 3.3 billion circulate.

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 Sui.

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