October 2024 marked a significant period of growth for the Sui ecosystem, as Web3 technologies continued to mature and innovative products gained traction. This comprehensive review highlights Sui's technical advancements, ecosystem developments, and community initiatives that shaped its progress throughout the month.
Key Network Updates and Technical Advancements
Sui Network Upgrades
The Sui mainnet underwent three critical iterations in October 2024. Developers could track these updates through the network update schedule, ensuring timely synchronization with development networks (V1.37.0), testnets (V1.37.1), and mainnet (V1.36.2). Notable improvements included enhanced consensus round detection for peer nodes.
Sui Bridge: Connecting Ethereum and Sui
Launched on September 30, 2024, Sui Bridge represents a trust-minimized native solution for asset transfers between Ethereum and Sui. Initially supporting ETH and WETH transfers, this infrastructure paves the way for expanded cross-chain functionality.
👉 Discover how Sui Bridge revolutionizes interoperability
Native USDC Arrives on Sui Mainnet
On October 9, 2024, Circle's USDC became natively available on Sui, providing stable value transfer and liquidity for DeFi applications. The upcoming Cross-Chain Transfer Protocol (CCTP) will further enhance USDC's interoperability across supported blockchains.
Ecosystem Expansion and Developer Support
RFP 2.0 Grant Program
Sui introduced an improved Request for Proposal process with:
- Rolling RFPs (long-term needs)
- Flash RFPs (urgent solutions)
Walrus Public Testnet Launch
This decentralized storage network, powered by Sui as its coordination layer, launched its public testnet on October 17, 2024. Early participants can follow the interaction tutorial to explore its capabilities for large multimedia content storage.
Community Growth and Career Opportunities
Sui Foundation announced multiple Asia-Pacific community roles, including:
- Community Operations
- Community Managers
- Team Insights Leads
Upcoming Events and Educational Initiatives
Move Dev Meetup (Beijing) - November 2
Featured Move ecosystem developers and Sui-based projects sharing development experiences.
Move Co-learning Camp - Starting November 5
A beginner-friendly program offering iPad rewards for mastering Move language fundamentals.
Sui Connect: Bangkok - November 12
Coinciding with Devcon 2024, this event welcomes blockchain enthusiasts of all experience levels.
👉 Learn about Sui's innovative ecosystem events
Ecosystem Spotlight: Notable Projects
DeepBook V3 and DEEP Token Launch
The October 14 mainnet release introduced refined incentive mechanisms and community-driven governance foundations.
Q3 2024 Sui DeFi Recap
Highlighted by:
- USDC mainnet integration
- Sui Bridge implementation
- DeepBook V3 release
Gamisodes Brings "Inspector Gadget" to Sui
The classic cartoon became an interactive playable series on iOS/Android, leveraging Sui's object structure for flexible in-game item programming.
Sweet MLS QUEST
Integrating Major League Soccer collectibles with Sui's Kiosk functionality for authentic digital memorabilia.
Ika's Cross-Chain Capabilities
This infrastructure protocol (formerly dWallet Network) enables Sui smart contracts to manage assets across multiple blockchains.
Sui Chain Overview (As of November 7, 2024)
| Metric | Value |
|---|---|
| Network TPS (Peak 30D) | 634 |
| Current Epoch | 574 |
| Active Validators | 108 |
| Total Addresses | 27.99M |
| Circulating Supply | 2.85B SUI |
| Total Transactions | 6.35B |
| TVL (DeFiLlama) | $1.10B USD |
FAQ Section
Q: What makes Sui Bridge different from other cross-chain solutions?
A: Sui Bridge offers trust-minimized transfers through native integration with Sui's architecture, prioritizing security and efficiency.
Q: How does native USDC benefit Sui's DeFi ecosystem?
A: It provides stable liquidity with lower latency and costs compared to bridged alternatives, while upcoming CCTP enhances cross-chain functionality.
Q: What types of projects qualify for RFP 2.0 grants?
A: Both long-term infrastructure projects and short-term solutions addressing immediate ecosystem needs are eligible.
Q: Can non-developers participate in Sui ecosystem activities?
A: Absolutely! Events like Sui Connect and educational programs cater to all experience levels.
Q: How does Walrus compare to traditional decentralized storage solutions?
A: By using Sui as a coordination layer, Walrus achieves greater scalability without compromising performance.
Q: What advantages does Sui offer for gaming projects?
A: Fast transaction speeds, flexible digital asset programming, and seamless user experiences make it ideal for Web3 gaming.
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