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The Sui Network has experienced a tsunami of users and volume over the last year, causing enormous surges within the ecosystem.
Most notably, Cetus Protocol has become one of the largest DEXs in Web3, and its token $CETUS has surged by over 744% in the last year.
Let’s jump straight into the action!
What is Cetus Protocol?
Cetus Protocol is the leading decentralized exchange and liquidity hub on the Sui Network, which first launched in 2023. Its primary mission is to become the go-to destination for trading and earning on Move-powered networks such as Sui and Aptos.
The key to a healthy network and ecosystem is liquidity, and without sufficient liquidity, failure is inevitable. That is why Cetus Protocol has developed the ultimate liquidity network and DEX for two major blockchains powered by the Move language, Aptos and Sui Network.
How Does Cetus Protocol Work?
Differentiating from other DEXs and liquidity protocols, Cetus Protocol uses concentrated liquidity and in layman’s terms, this enables liquidity providers to deposit liquidity within their custom price ranges, providing full flexibility, control and maximum earning potential over their supplied assets.
Liquidity providers on Cetus Protocol can earn in multiple ways, including transaction fees from the pool, potential additional mining rewards and even through the unique Loyalty Incentivation Programs such as liquidity lock-ups and leaderboard campaigns to reward the most active and loyal Cetus users and liquidity suppliers.
Cetus Statistics
In such a short time since inception, on the Sui Network alone, the Cetus Protocol has obtained a TVL of over $263M, facilitated over 49M transactions, conducting over $21.58B in volume across over 3.9M loyal Cetus users! By far, at the moment, the majority of users are using Cetus on Sui but in the future, there could very well be a huge demand for Cetus on Aptos.
Cetus Backers
Since the beginning, the Cetus Protocol has attracted some of Web3s largest VCs and backers, including OKX Ventures, KuCoin Ventures, Animoca Brands, the Sui Network and many others supporting the mission of empowering liquidity across the Move networks.
Cetus Protocol Tokens
Within the protocol is a dual-token model that includes the native token $CETUS, which is tradable and used to earn through liquidity mining. Beside $CETUS is the governance token $xCETUS, which can be converted 1:1 with $CETUS and is used to participate in the governance proposals and dictate the future of the protocol.
Conclusion
According to CoinMarketCap, at the time of writing, $CETUS is trading at $0.37 with a market cap of $229M and has seen an ATH of $0.49 in November 2024. $CETUS has recently been listed on major CEXs such as Binance, OKX and many others, preparing for a bull run that it has yet to experience. So, the question is, how high can $CETUS go in its first-ever bull market?
Sui and Aptos are two powerful blockchains with ecosystems growing at exponential rates. At the forefront of both blockchain ecosystems is the leading DEX Cetus, and as we enter the midst of the bull market, the $CETUS token could be poised for a major run. But, of course, only time will tell.
Official Cetus Protocol Links
Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
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