Suilend Rolls Out SpringSui To Drive Liquid Staking Growth On Sui
In Brief
Suilend has introduced SpringSui, a new standard for liquid staking tokens on the Sui network, and released Spring SUI (sSUI), the first LST to follow this framework.
Decentralized finance (DeFi) platform focused on lending and borrowing, Suilend has introduced SpringSui, a new standard for liquid staking tokens (LSTs) on the Sui network. As part of this launch, Suilend has released Spring SUI (sSUI), the first LST to follow this framework. The introduction of sSUI is intended to allow more Web3 users to engage in staking while enhancing liquidity and expanding yield generation options across the Sui network.
“I think SpringSui will unlock a new era for liquid staking on Sui,” said Rooter, founder of Suilend, in a written statement. “The primary driver of growth for LSTs is leveraged staking, which SpringSui will turbocharge,” he added.
SpringSui leverages protocol upgrades SIP-31 and SIP-33, which introduce a new token standard aimed at supporting LST growth on the Sui network. The first token launched under this standard, sSUI, was created by Suilend to demonstrate the practical applications and strengths of SIP-33.
With sSUI, users can stake SUI and receive a liquid staking token that represents their staked assets, enabling them to utilize this token across Suilend and other DeFi platforms. This design broadens access to staking on Sui while creating more yield-generation possibilities for users.
Additionally, SIP-33 enhances LST-backed collateral security by addressing depegging risks through an instant unstaking feature.
“SIP-33’s instant unstaking feature improves the safety of LSTs by minimizing depegging risks,” said Emma Zhong, Software Engineer at Mysten Labs, in a written statement. “This upgrade represents a major step in enhancing the safety, efficiency, and accessibility of staking products across Sui’s DeFi ecosystem,” she added.
Suilend Open-Sources SpringSui Standard To Drive Its Adoption
In order to drive the adoption of the SpringSui Standard and advance liquid staking on the Sui network, the framework has been made open-source and is now accessible to all Sui developers. Created by Suilend team member 0xripleys, also the developer of SIP-31 and SIP-33, the SpringSui Standard is expected to contribute widely across the Sui ecosystem.
Suilend’s roadmap prioritizes LST adoption, and the launch of SpringSui marks a major milestone in this effort. To support this vision, Suilend will launch a platform enabling users to create and manage their own LSTs. This platform will allow LST operators to set individualized fees, creating a flexible and customizable environment for LST deployment on Sui.
With SpringSui, Suilend is expanding its DeFi capabilities, offering users more yield-generating opportunities on Sui and encouraging third-party developers to create new LST solutions that promote fluid liquidity across the ecosystem.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, 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 cryptocurrency, zero-knowledge proofs, 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.
