STEAMM Debuts Its Sui-Based AMM And Introduces Points System
In Brief
STEAMM announced the launch of its platform after a successful beta phase and introduced the STEAMM Points initiative to reward users.
Layer 1 blockchain Sui ecosystem protocol, STEAMM, announced that it has launched after a successful beta phase and introduced the STEAMM Points initiative to reward users.
Starting in beta on February 17th, the official launch was marked by over $2 million in total value locked (TVL) and more than 20 available pools, with more to be added. The platform supports assets from major Sui-based projects, including those from STEAMM launch partners such as Agora’s AUSD, Bulb’s BLUB, Bucket Protocol’s BUCK, Ika’s iSUI, Studio Mirai’s KOTO, Kriya’s KDX, Lofi The Yeti’s LOFI, and Tupus Finance’s TYPUS.
In order to earn STEAMM Points, users can provide liquidity to pools, such as the SUI/USDC 0.3% fee pool. Users are encouraged to visit steamm.fi to start accumulating STEAMM Points, which will help them climb the upcoming STEAMM Leaderboard.
According to the announcement, additional pool options are anticipated soon, and permissionless pool creation is also part of the development roadmap. Furthermore, new asset quoters are nearing completion, which will allow STEAMM to support all asset types.
STEAMM: What Is It?
STEAMM is an automated market maker (AMM) integrated with a money market, designed to optimize capital efficiency. It boasts a flexible architecture that supports the integration of various types of quotation systems, including Constant-Product quoters, specialized stablecoin trading quoters, and dynamic fee quoters that adjust based on market volatility and trading volume.
The platform’s liquidity re-utilization model channels idle liquidity into Suilend’s lending markets, enhancing capital efficiency and providing additional yield opportunities for liquidity providers.
Prior to its launch, the platform underwent an audit by the blockchain cybersecurity firm OtterSec in February, ensuring its security and reliability.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
