Exploring Wealth Opportunities in the Sui Ecosystem Explosion

The Sui ecosystem is experiencing rapid growth, bringing diverse wealth opportunities to on-chain participants. Among them, decentralized stablecoin protocols have become an intriguing area.

A well-known stablecoin protocol has performed remarkably on Sui, with its total locked value (TVL) growing by 145% in the past month, reaching 22 million USD. The protocol has capitalized on market enthusiasm by launching a points system, which can be used in the future to exchange for protocol tokens. They announced that the points leaderboard and token generation event will conclude in the fourth quarter of this year. This short-term effective airdrop activity, combined with an approximately 20% stablecoin yield, makes participation in the protocol highly attractive.

Overview and Features

This protocol issues a decentralized stablecoin on the Sui network, pegged to the US dollar at a 1:1 ratio. Its value is supported by over-collateralized Sui, LST, or other crypto assets. Since its launch at the end of June last year, this stablecoin has remained stable without significant de-pegging.

As an active development team in the Sui ecosystem, the protocol has sponsored ecological events multiple times and participated in hackathon reviews. At the same time, they have also received strong support from the Sui Foundation, including ecological funding and SUI token incentives.

Main Features:

1. Fixed Rate Lending: Borrowers can obtain liquidity at a fixed interest rate without worrying about interest rate fluctuations.

2. Low collateral rate: Supports a minimum collateral rate of 110%, while ensuring system stability.

3. Stability Mechanism: Ensure that the stablecoin is pegged to the US dollar through mechanisms such as arbitrage and anchoring stability modules.

4. Automated Operations: All parameters are preset and controlled by algorithms, requiring no human intervention.

5. Earning Opportunities: Users can earn yield tokens by depositing stablecoins, gaining fixed returns through the savings rate.

6. Ecological Applications: This stablecoin can be used in multiple projects within the Sui ecosystem, enhancing its usability.

Airdrop Event Details

The agreement was completed on September 23 with a snapshot for old users, and everyone in the newly launched points leaderboard activity is starting from the same line.

How to earn points:

1. Open a lending position: Deposit SUI LST as collateral to borrow stablecoins, earning 1 point for every stablecoin borrowed per hour.

2. Deposit Profits: Deposit stablecoins into the staking pool, earning 1 point for every stablecoin deposited per hour.

3. Participate in integration projects: Deposit staked tokens in specific vaults to earn 1.1 points per hour.

Participation Steps:

1. If you have an existing position, first click "Start to earn points" on the rewards or dashboards page to begin earning points.

2. Accumulate points according to the rules, which can be done by opening a CDP, depositing into a staking pool, or a specific vault.

3. View the leaderboard and detailed points on the points page.

Recommended Strategy

For new users of the Sui ecosystem, the simplest method is to exchange stablecoins for protocol stablecoins and deposit them, which can yield approximately 20% annualized returns while accumulating airdrop points.

It should be noted that the most commonly used USDC on Sui is the Ethereum USDC bridged through the Wormhole. Stablecoins bridged from other chains may need to be exchanged first.

Outlook

With the continuous development of the Sui ecosystem, this stablecoin protocol is expected to become one of the core infrastructures within the ecosystem. Its upcoming token not only provides users with participation opportunities but also injects new vitality into the entire ecosystem.

In the future, as projects on Sui mature further, the protocol may play a more important role in the decentralized finance sector, providing users with stable returns and an important channel to participate in the DeFi ecosystem.

Notice: The cryptocurrency market is highly risky. Please act with caution when investing and make decisions only after fully understanding the project.