Grayscale launches two trusts linked to Sui ecosystem protocols
Main Idea
Grayscale has launched two trusts linked to Sui ecosystem protocols, DeepBook and Walrus, amid a surge in DeFi activity on the Sui network, which recently reached an all-time high in total value locked.
Key Points
1. Grayscale launched trusts linked to Sui ecosystem protocols DeepBook and Walrus, with DeepBook processing over $10 million in transactions.
2. The Sui network's total value locked (TVL) reached an all-time high of $2.3 billion on July 28, though it has since slightly declined to $2.2 billion.
3. Mill City Ventures became the first publicly traded company to create a Sui treasury, raising $441 million, with 98% allocated to purchasing Sui tokens.
4. Sui, launched in May 2023 by Mysten Labs, is designed for high volume and low latency, utilizing parallel processing to enhance performance.
5. The Walrus Foundation raised $140 million from investors, including Standard Crypto, to support the Sui ecosystem.
Description
DeepBook and Walrus’s “Winter Walrus” are ranked outside of the top 10 Sui ecosystem protocols, according to DefiLlama.
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