The Value Elevation of the SUI Public Chain: From High-Performance Chain to Programmable Internet Infrastructure

With the continuous development of Web3 technology, smart contract languages are transitioning from Ethereum's Solidity to the more secure and resource-abstracting Move language. The Move language was originally developed by Meta for the Diem project and features first-class resources and formal verification friendliness, making it an important language choice for the next generation of public chains.

In this context, Aptos and SUI have become the dual core representatives of the Move ecosystem. Aptos continues the native Move technology stack, emphasizing stability, security, and modular architecture; SUI introduces object-oriented data structures and parallel execution mechanisms based on the Move security model, forming a SUI Move branch that features performance breakthroughs and innovative development paradigms, reconstructing on-chain resource management and transaction execution modes. SUI fundamentally reconstitutes the smart contract operating mechanism and on-chain resource management methods, serving as the technological infrastructure designed for complex on-chain interactions and large-scale Web3 applications.

1. Stand Out and Reshape the Public Chain Landscape

Compared to public chains like Solana, Aptos, and Sei, SUI has the following advantages:

• Adopts the more secure Move language, avoiding vulnerabilities caused by Solana's Rust+Sealevel parallelism.
• Lower hardware requirements, lower costs for validation nodes, conducive to decentralization
• Performance comparable to Solana, but with lower confirmation latency.
• Ecological growth is faster, and user activity once reached parity with Solana.
• Achieve differentiated development through new fields such as BTCFi and LSD.
• The object model is more efficient, with better performance and stability under high concurrency.
• Diversified narratives, not limited to DeFi and NFTs
• The foundation provides strong support, with monthly active users and trading volume both outperforming Aptos.

Compared to Ethereum Layer 2, SUI has significant advantages in ultra-low latency and high concurrency, making it more suitable for high TPS games and other applications. The competition between SUI and Layer 2 is essentially a competition between the new paradigm ( public chain ) and the traditional paradigm ( Rollup ).

2. Flourishing Development, Ecological Data Shines

Since the SUI mainnet launched in May 2023, user growth has been rapid:

• As of April 2025, over 123 million user addresses have been created on-chain.
• The number of monthly active addresses surged from 10 million in the second half of 2024 to over 40 million in April 2025.
• Starting from the end of 2024, the average daily new wallet addresses will jump from 150,000 to over 1 million.
• By mid-2025, the total locked amount of cross-chain is (, and the bridging TVL is ) approximately 2.55 billion USD.
• In mid-April 2025, the market value of SUI stablecoin reached a historic high of over 800 million dollars.

The SUI ecosystem presents the following characteristics:

1. Formation of capital structure resilience: Steady state TVL in Q2 2025 is approximately $160-180 million, with stablecoins + LSD accounting for 55%.
2. High developer retention rate: 24-month survival rate 37%, higher than Aptos and Sei.
3. User structure bifurcation: DeFi and content entertainment applications contribute 49% and 35% of the on-chain call volume respectively.
4. Potential Growth Space: There are two major blank areas waiting to be developed: RWA and native derivatives.

3. Strategic Layout, Multi-Party Forces Boost Ecological Prosperity

The rapid rise of the SUI ecosystem cannot be separated from the catalysis and empowerment of strategic capital. OKX Ventures, as an early discoverer and strategic co-builder, has invested in core projects such as Cetus, Navi, Momentum, and Haedal, covering key DeFi tracks like DEX, lending, and liquid staking. These investments not only provide financial support but also bring industry resources, market insights, and technical assistance, accelerating project development and the prosperity of the entire ecosystem.

The SUI Foundation and Mysten Labs' investment in the infrastructure layer has laid a deep competitive barrier for the ecosystem. They have invested a substantial amount of capital in the research and development of "thick infrastructure" such as Walrus, Seal, Nautilus, addressing the shortcomings of the underlying layer, and incentivizing application innovation through grants and hackathons. This strategy not only enhances developer retention but also improves SUI's capacity to support emerging fields.

4. Value Positioning, from "Fastest L1" to "Programmability Internet Stack"

SUI is transitioning from a "high-performance parallel chain" to a "programmable internet stack." The team has integrated traditional internet components such as computing power, storage, identity, liquidity, and privacy computing into a single native protocol stack, constructing six major components including the Sui mainnet, DeepBook, SuiNS, Walrus, Seal, and Nautilus. This infrastructure has entered the production phase, supporting new directions such as Web2 SaaS migration, offline network applications, and AI verifiability.

In terms of technological progress, SUI constantly improves the underlying consensus, protocol upgrades, development experience, and user tools. The Mysticeti engine achieves sub-second finality and a throughput capacity of 12,000 TPS; the Move language introduces new features to enhance development efficiency; wallet integration optimizes user experience.

In terms of ecological components, SUI has built a full-stack architecture covering storage, encryption, and privacy computing, significantly enhancing the efficiency of on-chain and off-chain data processing and data sovereignty. Underlying protocols such as Walrus, Seal, and Nautilus provide support for scenarios like NFT, AI, and DeFi.

In terms of security governance, SUI demonstrates rapid response capabilities, addressing security incidents through on-chain governance mechanisms and security funds, while continuously optimizing governance processes.

Overall, SUI is shifting from the narrative of being the "fastest L1" high-performance chain to a higher positioning of being a "programmable internet stack," dedicated to building a universal infrastructure that serves the large-scale implementation of Web3.