Sui Tavern: Insights on Sui Ecosystem Development from the Cetus Incident

Guest Introduction

Little Penguin A Pi: Co-founder of DA Labs and the DA Traders Alliance, entered the space in 2017, and is deeply involved in the Sui ecosystem projects.

Kyrie: Typus Finance employee, previously responsible for blockchain investment management at a family office, participated in the development of the Solana project.

CryptoMiao: Graduated with a degree in Finance, holds a lawyer's qualification certificate, previously engaged in Web2 investments, now focuses on Web3 research and evaluation.

Advantages of Sui

• Mysten Labs provides infrastructure support for the ecosystem, such as DeepBook and zkLogin.
• Solved the problems of traditional on-chain authorization mechanisms, enhancing security.
• Fast transaction speed, low cost
• Good stability, few downtimes

Impact and Response to the Cetus Incident

• Exposed the risk of a single project's excessive proportion in the ecosystem.
• The Sui Foundation reacts quickly and makes decisions through node voting.
• Demonstrated Sui's capability in asset protection.
• May help attract traditional financial institutions.

The Battle Between Centralization and Decentralization

• Centralization and decentralization are a spectrum that requires balance.
• Sui consists of 114 nodes forming a "jury", with the foundation playing a role similar to that of a government.
• This mechanism may be more suitable for attracting traditional capital and Web2 projects.

The Connection between Sui and Web2

• Connecting Web2 and Web3 through RWA (Real World Assets)
• Issued native USDC in collaboration with Circle
• Explore cooperation with traditional financial institutions, such as the Athens Stock Exchange.
• Lower the barriers to entry for blockchain technology, such as SuiPlay in the gaming sector.

Development Goals and Positioning of Sui

• Not limited to the existing Web3 market competition
• Committed to becoming a bridge between Web2 and Web3
• Focus on infrastructure construction and RWA integration
• Achieving breakthroughs by introducing Web2 products, programs, and user scenarios.
• The long-term goal is to attract more Web2 funds and users into the ecosystem.