Introduction: The Rise of Sui’s DeFi Ecosystem
As a next-gen high-performance Layer 1 blockchain, Sui leverages Move language’s security and parallel processing architecture to rapidly expand its DeFi landscape. According to DefiLlama, Sui’s Total Value Locked (TVL) surpassed $1.2B in Q2 2024, marking a 380% YoY growth—ranking among the top 3 fastest-growing chains.
In this thriving environment, Scallop and NAVI Protocol have emerged as Sui’s most promising DeFi projects, combining innovative designs with explosive user adoption.
Scallop: Sui’s All-in-One DeFi Hu
Project Overview
Scallop is Sui’s first integrated DeFi protocol, merging lending, stablecoins, and DEX functionalities. With a TVL of $580M (32% of Sui’s DeFi market), it’s the chain’s fastest-growing financial platform.
Core Offerings:
- Scallop Lend: Institutional-grade lending
- BUCK: Overcollateralized stablecoin
- Scallop Swap: Low-slippage trading aggregator
Technical Innovations
🔧 Isolated Pools + Global Risk Engine
- High-risk assets (e.g., Meme coins) are separated from blue-chip assets (SUI/USDC) to prevent cascading liquidations.
- Dynamic interest model:复制下载Borrow Rate = 0.5% + (Utilization × 0.8)² This improves capital efficiency by 22% vs. Aave.
On-Chain Metrics (2024)
| Metric | Q1 2024 | Q2 2024 | Growth |
|---|---|---|---|
| TVL | $1.2B | $5.8B | 383% |
| BUCK Circulation | 28M | 120M | 329% |
| Daily Liquidations | $85K | $420K | 394% |
Scallop’s TVL growth is exceptional, and as one of Sui’s few native DeFi protocols, it presents a compelling investment opportunity.
📈 Token Performance:
- SCA surged 120% in the past month.
NAVI Protocol: The “AAVE + MakerDAO” of Sui
Project Positioning
NAVI dominates Sui’s lending market with $382M TVL (61% share), innovating beyond Ethereum clones by combining:
- Looping借贷 (3x leverage)
- Dynamic interest rates
Core Technology
🔄 Looping Engine (3x Leverage)
- Deposit SUI as collateral (125% min ratio).
- Borrow stablecoins (e.g., USDC).
- Repurchase SUI with borrowed funds.
- Repeat (max 3x leverage).
📉 Interest Rate Model:
- Base rate: 0.8% (floating).
- Utilization multiplier: 0.0005.
- Emergency rate hike: +2% if SUI volatility >15%.
Key Metrics (2024)
| Metric | Q1 2024 | Q2 2024 | Growth |
|---|---|---|---|
| TVL | $850M | $3.82B | 349% |
| Active Borrowers | 12K | 68K | 467% |
| Daily Liquidations | $120K | $980K | 717% |
NAVI’s TVL growth is equally impressive, reflecting strong product-market fit.
📈 Token Performance:
- NAVX has rallied significantly over the past month.
Investment Outlook
As top-tier projects on Sui, both Scallop and NAVI stand to benefit from:
- Increasing Sui adoption.
- DeFi innovation tailwinds.
For Sui enthusiasts or long-term believers, accumulating these tokens could be strategic—but always DYOR (Do Your Own Research).
⚠️ Disclaimer: This is not financial advice. Crypto investments carry risks.
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