As a researcher, I’m excited to share that I’ve recently come across a list of twelve projects successfully completing the initial phase of the Sui Foundation’s Hydropower Accelerator Program. This is quite an achievement!
Based on an announcement made on January 9th, the Sui Network has completed its initial Hydropower Accelerator program. The dozen teams that have graduated are now ready to progress with developing their solutions, taking advantage of the Sui ecosystem for additional growth opportunities, such as early access to cutting-edge technologies.
Amongst numerous applicants, only twelve teams were chosen to be part of the first group, and these chosen projects span a wide range of industries, including Decentralized Finance (DeFi), Decentralized Personal Identification (DePIN), and real-world assets, as declared by the Sui Foundation.
The projects we worked on consisted of 7k, an intelligent trading ecosystem that swiftly grew to be Sui’s second-largest aggregator; AdToken, a decentralized advertising network allowing businesses to run on-chain ad campaigns; InsiDeX, a platform offering comprehensive insights into all DeFi activities happening on both Sui and Gifted, a digital gifting platform designed to enhance the process of sending and receiving digital artwork.
Other projects encompassed Lotus Finance, a market maker functioning in a decentralized manner; Nativerse, concentrating on non-custodial liquid staking; Nemo Protocol, a platform for native yield trading; Pomerene, an international trade solution using DePIN technology; Printr, a platform for tokenization and fundraising; and Protocol Media Labs, with the objective of reinforcing the journalism sector by providing decentralized tools.
Details of one participant were not disclosed.
The Sui Hydropower Accelerator is an 8-week initiative aimed at strengthening startups operating within the Sui ecosystem. It provides specialized guidance from experts, practical training sessions, and crucial resource access.
During the course of the program, individuals are offered mentorship on topics including technology, product design, marketing strategies, and financing, as well as opportunities to interact with Web3 specialists and other creators.
At the conclusion of the program, the participating teams receive the chance to gather insights from venture capitalists who are friendly towards their type of business (suitable or sui-friendly).
Moving forward, Sui intends to assist more developers by introducing new development programs within the next year.
Sui ecosystem expands
The most recent update indicates that the Sui ecosystem experienced substantial expansion during the last quarter of 2024. As per the Q4 report, Sui attained a peak Total Value Locked (TVL) of $1.8 billion, with an average TVL of $1.4 billion. This figure surpassed the previous quarter’s amount more than twice over. Furthermore, its total volume saw a nearly tenfold increase compared to the preceding quarter.
Sui’s expansion is fueled by the sectors of decentralized finance, decentralized network infrastructures for physical systems, and video games developed on its own blockchain. Additionally, it has fortified its market position through strategic collaborations and integrations.
Previous month saw our project collaborating with Ant Digital Technologies and ZAN, a provider of web3 plug-and-play tools, for the purpose of tokenizing assets backed by the environment and governance, in the real world.
In October 2024, Sui was embroiled in controversy due to accusations of secretive token sales involving insider information. Swiftly responding to these claims, the Sui Foundation explained that the lockups for their tokens are handled by professional custodians and are under constant scrutiny by the Foundation.
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2025-01-10 14:19