Original author: Peng SUN, Foresight News

On July 19th, Sui and KuCoin Labs held a summer hackathon in Paris, with a total of 30 teams winning and sharing a total of $285,000 in rewards. Sui said that the winning projects could be either new projects on Sui, or mature projects that have achieved defined new features or redesigns during the hackathon. These 30 projects cover various fields such as DeFi and payments, infrastructure and tools, games and AIGC, NFTs, social and DAO, with DeFi projects being the majority. Today, Foresight News will take stock of these winning projects to see which projects on Sui are worth paying attention to and what they are specifically doing.

Best Comprehensive Award

Gold Award

Desig Protocol is a blockchain-agnostic multi-signature solution driven by Multi-Party Computation (MPC), Threshold Signature Scheme (TSS), and Zero-Knowledge (ZK) technologies. Desig replaces the need for multi-signatures on smart contracts with a trustless decentralized network. Cryptographically, Desig is based on homomorphic encryption and Shamir's secret sharing. To sign a transaction, each owner must independently sign and share their signature. Once all signatures are obtained, a process combines these signatures to recreate a valid signature of the master private key.

Torai Money is a Sui-based ZK-powered protocol for derivative liquidity layer, allowing users to create portfolios of any supported assets and tokenize them into an NFT called Liquidity Seal. The NFT represents the underlying assets and captures the generated yield, which can be used for trading and other DeFi use cases. The platform token is TORAI, and users can borrow SEN by pledging TORAI. Users need to bundle at least 100 SEN with other supported assets into an NFT, and the value of SEN will also be included in the NFT. For example, users can bundle 1 BTC, 1 TORAI, 1 SUI, 1 Apple stock, 1 Starbucks stock, and 1 SEN for other DeFi use cases.

Currently, the Torai Money website cannot launch the app.

Silver Award

Lit Suiet is a mnemonic-free wallet and SDK based on Sui, built using the Lit Protocol PKP (Programmable Keypair) that allows users to log in or register via Google. The Lit Protocol is a decentralized key management network that provides MPC as a key management solution. Currently, PKP does not support Sui, so Lit Suiet has developed pkp-sui sdk, which is based on Secp 256 k1 and does not have private keys even at the code level.

Bronze Medal

Scallop is a currency market on Sui and the first DeFi protocol sponsored by the Sui Foundation, providing high-yield lending, low-cost lending, AMM, and asset management tools, as well as SDK for professional traders. Similar to Compound, Scallop tokenizes debt tokens on the protocol, called Scallop Market Coins. Market Coins are proofs that users deposit tokens into the asset pool, allowing the construction of collateralized positions without interacting with the underlying assets, and can be used to create derivatives including debt. In terms of borrowing, Scallop has the feature of transferable sub-accounts, where users can open up to 5 sub-accounts to manage multiple positions. For each sub-account opened, an object called Obligation is created, which stores the user's collateral and debt. To modify this object, an Obligation Key is required, which is similar to an NFT and represents ownership and can be transferred. Once the user holds the Obligation Key, they can deposit into any sub-account without requiring repeated approvals, and assets and debts can be transferred between sub-accounts without approvals. Scallop's collateral weight is typically less than 1 and the "borrowing weight" feature is implemented to protect users from the volatility of tokens. Scallop adopts the Pyth, Switchboard, and Supra multi-oracle model, and uses TWAP to enhance oracle security. Additionally, Scallop also supports Solana.

Bucket Protocol is a Collateralized Debt Position (CDP) protocol based on Sui, where users can collateralize assets such as SUI, WETH, USDT, USDC, etc. into smart contracts to open individual accounts called "Bottles" and borrow the USD stablecoin BUCK. The minimum collateralization ratio for a Bottle is 110% and there is no need to pay interest. BUCK holders can convert their stablecoins back into collateral at any time. Users can provide BUCK liquidity to Tank Pools that support SUI, WETH, USDT, USDC, etc., and earn liquidation rewards and stBKT token incentives. When a user's collateralization ratio falls below 110%, their position will be liquidated and the collateral will be sold to Tank in exchange for BUCK to repay the debt. When the collateralization ratio falls below 110%, anyone can liquidate the bottle, and the initiator will receive a 0.25% collateral reward. Bucket Protocol also supports flash loan arbitrage.

DeFi and Payments

Gold Award

Typus Finance is a real yield infrastructure that integrates the DeFi Options Treasury with DeFi protocols, combining exchange, lending, and derivatives protocols to create an options market for long-tail assets. Typus products include DeFi Options Treasury, NFT Options Treasury, AMM LP Tools, and Typus Major Treasury. Typus' DeFi Ordinary Options are European options settled in cash, fully collateralized, including covered call options, sold put options, and call spread options. The NFT Options Treasury has not yet been launched. Typus is developing an automatic rebalancing tool that will eliminate the need for LPs to manually adjust their LP ranges, automatically setting the LP range for each underlying asset based on the implied volatility of the options market and other dynamic adjustment conditions. Typus also provides a Sharpe Optimizer as a hedge against impermanent loss risk.

NAVI Protocol is an all-in-one liquidity protocol on Sui and a lending DeFi infrastructure that supports the Move ecosystem. NAVI's innovative features include leverage treasury and isolation mode, allowing users to capture trading opportunities with minimal risk using their assets. NAVI products include a decentralized liquidity protocol that allows users to borrow encrypted assets using shared liquidity pools, with deposits earning nTokens yield. In addition, NAVI supports blue-chip assets such as USDT, USDC, SUI, supports revenue assets such as LP tokens, LST, and supports long-tail and exotic assets.

Silver Award

Haedal Protocol is a liquidity staking protocol that allows anyone to stake SUI and participate in DeFi using stSUI. Currently, the Haedal website cannot be accessed.

Vimverse is an enhanced decentralized reserve currency protocol based on Uniswap V3. It provides features such as staking, Bonding, and financial management, and adopts Protocol Managed Market Maker (PMMM). Vimverse also features Launchpad, NFT Marketplace, LaaS (Liquidity-as-a-Service), NFT cross-chain bridge Vim Bridge, with its native token being VIM. Users can stake their VIM to earn rebase rewards, which come from bond and NFT sales revenue as well as future NFT transaction fees. At the same time, staking also rewards an equal amount of sVIM, which can be transferred and compatible with other DeFi protocols. Bonding allows Vimverse to manage its own liquidity and exchange VIM tokens for reserve assets such as USDC and SUI at a discounted price. Bonder can claim a portion of VIM rewards during the vesting period and receive the full reward when the 5-day vesting period ends. Additionally, when a user purchases a bond, the received sVIM is automatically staked for the bond before it is claimed.

Bronze Medal

Interest Protocol is a one-stop DeFi platform that provides users with exchange, lending, and yield services. Its core products include AMM DEX and Money Market Protocol. The Money Market Protocol represents the relationship between liquidity pools and users. Lenders do not lend tokens directly to borrowers but instead lend to the market, and the market liquidity determines the amount of tokens available for borrowing and the interest rates borrowers pay. There are no deposit fees in the money market. The Money Market Protocol can issue the stablecoin Sui Dollar, which supports 0 interest rate but only accepts highly liquid collateral.

Infrastructure and Tools

Gold Medal

SuiVision (BlockVision) is a multi-chain node, Mempool, Token, NFT, and DeFi API provider and data retrieval portal for developers. Currently, it supports Sui, Ethereum, BNB Chain, Arbitrum, and Scroll.

Silver Medal

Scaf is a framework for developing, testing, and deploying Sui smart contracts, and provides convenient functionality for abstracting boilerplate code. Developers can use Scaf to write Sui smart contracts and deploy them on the Sui network, and write scripts to simulate interactions with functions and fish, etc. Scaf requires the installation of the Sui CLI to build Sui Move smart contracts and allow for local network development. Currently, Scaf is in the early stages of development, and developers can use it for local testing and deployment to the testnet and devnet.

Bronze Award

Surf is a smart contract wallet that allows users to make payments using cryptocurrency, supporting token transfers and NFT collections. Surf Wallet implements the Sui Wallet Standard. Currently, the Surf Wallet browser extension has been launched, and deposit solutions, payments, and investment features are coming soon. Team smart fund management features, such as multi-signature and streaming payments, are also coming soon.

Games and AIGC

Gold Award

Shall We MOVE is a blackjack game built on Sui. During testing, the game displayed Uncaught runtime errors on the page after connecting to the wallet.

Silver Award

STACKAAR is an augmented reality game developed by Forward Game, where robots can discover tools and weapons, complete levels, and battle other robots. Users need to purchase Robik robots on the Keepsake market first, and the beta version can be downloaded from the Apple Store and Google Play for testing.

Bronze Award

Bushi is a fast-paced third-person competitive shooting game made with Unreal Engine 5, and its in-game token is CORES. The game can be downloaded and installed through HyperPlay. Currently, the game is only available to desktop users, and the mobile version will be released soon.

Legend of Arcadia is a multi-chain free casual strategy card game, where players can increase their earnings through staking, battling, and mining. The governance token ARCA has a total supply of 1 billion and will be launched soon.

NFTs, Social, and DAO

Gold Award

HolaSui! is a DAO builder that allows you to create DAOs and SubDAOs. It also provides staking services and NFT peer-to-peer exchange. Users can earn Hola points on the platform and participate in voting and reward claims within the DAO. HolaSui! has received funding from the Sui Foundation.

Silver Award

Somis.xyz is an NFT marketplace and aggregator for developers and traders.

Bronze Award

Releap is a decentralized social graph protocol similar to Web3 Twitter. It aims to provide creators with ownership of their community relationships. Releap allows projects to establish and incentivize communities, and users can edit their profiles, post content, and participate in activities. The protocol is designed with modularity in mind and is currently managed by multisig, with a future transition to a DAO. The main component of the Releap Protocol is the Profile NFT, which grants control over user-generated content. Profile NFTs are owned by individual addresses, and a single address can own multiple Profile NFTs. Unlike other on-chain identities, a Releap Profile NFT can store all of the user's posts, reposts, comments, and other generated content. A Profile NFT also includes a list of followers that the user is following.

On July 25th, the Releap Protocol announced a $2.1 million funding round, with investors including the Sui Foundation, GBV Capital, Big Brain Holdings, Shima Capital, Arweave Foundation, Assembly Partners, D Web3 Capital, Impossible Finance, Solar Eco Fund, and MoveBit. The Releap Protocol has launched a social-focused ecosystem in its testing phase, which aims to empower users to regain control over their data.

Community Favorite Award

ABEx is an on-chain derivatives and exchange protocol built on Sui. It offers zero slippage and high leverage trading services. ABEx allows trading without an account and provides leverage of up to 50x, with LPs sharing 70% of the protocol revenue. The liquidity token for ABEx is ALP, and its price is determined by the price movements of all the tokens in the index pools. The supported index tokens include stablecoins like USDC and USDT (approximately 50% of the index), mainstream assets like BTC and ETH (approximately 40% of the index), and Sui (approximately 10% of the index).

ALLsTo helps small and medium-sized enterprises receive stablecoin payments such as USDC, USDT, BUSD faster, cheaper, and more standardized. It supports Ethereum, BNB Chain, Polygon PoS, Arbitrum, Optimism, Avalanche, Tron, Fantom, Aurora, Conflux, Moonriver, Cronos, and other networks.

Blockbolt is a decentralized payment protocol based on Sui. Its products include Bolt Checkout, decentralized wallet, prepaid payments, Bolt POS machine, and Bolt DAO. The BlockBolt payment protocol will be implemented based on smart contracts on Sui, Venom, and Aptos. BlockBolt provides BoltPay SDK software development kit, allowing developers to create decentralized payment solutions DApps by integrating it into their applications. At the same time, BlockBolt supports multi-currency transactions, instant payments, and can be used for e-commerce payments, cross-border remittances, micro payments, peer-to-peer transactions, DeFi, Internet of Things, and smart devices.

Brickin is an NFT DEX and currently does not have an official website.

DegenHive is a DeFi-driven meta-hive that provides exchanges, liquidity pools, markets, etc. Currently, DegenHive only supports the Sui test network.

FlowX Finance is a DEX built on Sui. Its products include exchanges, liquidity pools, position management, and Genesis farms. FlowX aggregates liquidity from multiple DEXs, supports portfolio settings, and allows for the simultaneous sale of multiple tokens.

Lagoon is an actively managed DEX aimed at increasing capital efficiency and reducing impermanent loss.

Mole is a DeFi protocol on Sui and Aptos that provides leverage yield farming and asset management funds. Its products include savings, farms, and fund management. Users can save their crypto assets and receive deposit rewards, while leverage miners can convert their borrowed loans into LP tokens required by DEX. The DEX rewards users who provide LP tokens. Mole also offers dual stablecoin strategies and Bond funds, using intelligent algorithms to select the best loan currency and leverage for users. Currently, Mole has not yet been issued and will be launched based on market conditions in the future.

Study U&I is provided by the blockchain infrastructure solution DSRV, and it can explain the characteristics of Sui through gaming.

Zqualizer is a decentralized protocol on Sui that provides stable yield farms, leveraged yield farms, and funds by binding derivative positions with Zquilibrium. Zqualizer provides users with positions of Zquilibrium that are bound with NFTs. Through Zquilibrium, users can mint, mine, and redeem their positions. Whenever users deposit assets into Zqualizer for liquidity mining, they will receive Zquilibrium. Zquilibrium can be transferred, traded, and used as collateral in leveraged yield farms. Zquilibrium represents positions that are minted as NFTs and serve as over-collateralized delta neutral positions in derivatives, ensuring that the net value of users' assets is not affected by changes in the underlying asset's price. The native token of Zqualizer is ZQUAL. Currently, users can only experience minting and staking on the Sui testnet, and leveraged yield farms have not yet been launched.