The SUI network is gaining significant momentum following its complete integration with Backpack. This update allows users to engage in trading, lending, and exploring decentralized applications.
SUI’s Integration with Backpack
The integration with Backpack enables users to trade, lend, and swap assets, as well as explore decentralized applications. The availability of cross-chain bridging enhances user interaction, making it more accessible.
Increase in TVL and NAVI Protocol Activity
Lending TVL on Sui jumped 78.86% in a month, driven by the growing activity of NAVI Protocol. This surge indicates an increasing interest and demand for DeFi services within the SUI ecosystem.
Overall Achievements and Market Growth
The total value locked (TVL) in SUI has reached $2.1B, while futures open interest has risen to $1.86B. These figures highlight strong growth and increasing demand for products and services within the ecosystem.
The integration of SUI with Backpack and the increase in TVL have opened new horizons for decentralized finance users. The adoption of these features is anticipated to further SUI's development in the DeFi sector.
