What is decentralized finance?

Decentralized finance (DeFi) refers to financial services that operate on blockchain technology, allowing users to engage in transactions without intermediaries like banks.

What is Total Value Locked (TVL)?

Total Value Locked (TVL) is a metric used to measure the total amount of assets staked or locked in a DeFi protocol, indicating its popularity and liquidity.

What is a blockchain?

A blockchain is a decentralized digital ledger that records transactions across many computers, ensuring the security and transparency of data without a central authority.

What is a smart contract?

A smart contract is a self-executing contract with the terms of the agreement directly written into code, allowing for automated and trustless transactions on a blockchain.

What is liquidity in finance?

Liquidity refers to how easily an asset can be converted into cash without affecting its market price, indicating the availability of liquid assets in the market.

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Technology

Sui Joins DeFi Leaders, Topping $100M in Bridged Usdc

Published by Jessica Weisman-Pitts

Posted on December 7, 2023

2 min read

Last updated: January 31, 2026

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Sui blockchain surpasses $300M TVL, signifying growth in DeFi protocols - Global Banking & Finance Review — This image highlights Sui's remarkable achievement of surpassing $300 million in Total Value Locked (TVL) in the DeFi space, showcasing its rapid ascent and significant milestones in blockchain technology.

Sui Joins DeFi Leaders, Topping $100M in Bridged USDC

GRAND CAYMAN, Cayman Islands, December 7th, 2023, Chainwire

Only 7 months from the network’s launch, Sui is bridging more USDC liquidity than multiple native chains

Sui, the groundbreaking Layer 1 blockchain created by the technology experts who led Meta’s Diem blockchain initiative and created the Move smart contract language, continues its explosive ascent in decentralized finance (DeFi). This week, it surpassed $100 million in bridged USDC.

This latest data confirms Sui’s position among the ranks of the top DeFi protocols worldwide and builds upon its most recent milestone of surpassing $175 million in Total Value Locked (TVL). The Sui Network now consistently ranks within the top 25 blockchains for daily transaction volume and within the top 15 blockchains by weekly volume.

“Surpassing $100 million in bridged stablecoins represents yet another significant moment for Sui in DeFi, and is a clear illustration of the remarkable success of the Sui community’s efforts to build a versatile and accessible ecosystem,” said Greg Siourounis, Managing Director of the Sui Foundation. “Coupled with the Network’s recent surge in TVL, as well as performance measurements that show Sui operating at the forefront of Web3 technology, this milestone positions Sui as a force driving the next generation of DeFi.”

The network’s decentralized ecosystem and independent builders are fueling that growth, with seven projects standing at over $10 million in TVL and 11 projects exceeding the $2 million mark.

In another strategic move to fortify the security and reliability of its ecosystem, Sui last week announced an ecosystem investment with leading Web3 security firms OtterSec and Zellic — providing essential access for independent ecosystem projects to high-end auditing services and setting builders on Sui on a path to success.

Likewise, November alone saw $500,000 in a fresh round of Sui Grants issued to projects building on the Network. These grants are dedicated to project teams poised to advance the adoption of Sui and its growing DeFi ecosystem.

For more information about the Sui Network, visit sui.io.

Contact

Sui Foundation

media@sui.io

Sui Joins DeFi Leaders, Topping $100M in Bridged Usdc

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