Sui Network Achieves Major Milestones and Expands DeFi Ecosystem with SuiLend Protocol

The Sui Network has demonstrated significant growth and technical achievements since its launch approximately 270 days ago, boasting zero network downtime, a transaction per second (TPS) rate of 297,000, a time to finality of 400ms, and a total of 2.64 billion transactions. The network has also achieved a total value locked (TVL) of $525 million, with a daily volume of $92 million, and has activated 8 million wallets. In a recent development, the Sui Network announced the launch of its largest coin-minting event to date, aimed at accelerating growth and supporting the development of applications on its platform. Additionally, the network has expanded its DeFi ecosystem with the introduction of the SuiLend protocol, a lending and borrowing platform, which is a sister project to the Solend protocol on Solana. This move has been met with support from the community, highlighting the importance of lending platforms in the DeFi ecosystem.