The Sui Foundation recently announced the successful completion of its first Hydropower Accelerator program, with twelve projects graduating and ready to continue their development within the Sui ecosystem. These projects were selected from hundreds of applications and cover a wide range of sectors, including DeFi, digital art gifting, decentralized market making, and more.
Among the projects that completed the program are 7k, a smart trading ecosystem; AdToken, a peer-to-peer advertisement network; InsiDeX, a DeFi insights platform; and Gifted, a digital gifting platform. Other projects include Lotus Finance, Nativerse, Nemo Protocol, Pomerene, Printr, and Protocol Media Labs. The program provided mentorship, learning opportunities, and access to resources for the participants, with a focus on technology, product development, marketing, and fundraising.
The Sui ecosystem has experienced significant growth in the final quarter of 2024, reaching a peak TVL of $1.8 billion and doubling the previous quarter’s average TVL. The project’s cumulative volume also saw a tenfold increase compared to the previous quarter, driven by DeFi, decentralized infrastructure networks, and gaming projects built on the Sui blockchain. Key integrations and partnerships have further strengthened Sui’s market presence.
In a recent partnership with Ant Digital Technologies and ZAN, Sui ventured into tokenizing environmental and governance-backed real-world assets. Despite facing controversy in October 2024 over alleged insider token sales, the Sui Foundation clarified that token lockups are managed by qualified custodians and closely monitored.
Looking ahead, Sui plans to support more builders by offering additional programs in the coming year, continuing to expand its ecosystem and empower startups within the blockchain space. The success of the Hydropower Accelerator program highlights the potential for innovation and growth within the Sui network, positioning the graduating projects for further success in the future.