Trading: distinguish interfaces, pools and order books
Cetus provides token swaps and liquidity pools; Aftermath offers a swap interface and aggregation; Bluefin offers trading products, including spot and derivatives experiences. DeepBook is an onchain order-book liquidity layer that other interfaces integrate rather than simply a second wallet. The Foundation lists Aftermath, Bluefin, Cetus, Turbos and other DeepBook integrations in its DeepBook integration update.
Before a swap, compare the exact token type, displayed output, price impact, fees and slippage setting. Before supplying liquidity, ask whether you are taking exposure to both assets and whether concentrated liquidity can leave you mostly in one asset. Leveraged derivatives introduce liquidation risk that an ordinary spot swap does not. If your goal is to turn USDT from a supported source network into native SUI without using a DeFi pool, check the USDT to SUI route, its payout address and live quote. The exchange overview lists other directions.
A spot swap is different from supplying liquidity
With a spot swap you exchange one asset for another at the quoted execution conditions. When you supply two assets to a pool, you receive a position whose composition and value can change with market prices. A concentrated-liquidity position may stop earning trading fees outside its chosen price range. If you want only a direct swap, adding liquidity is an unnecessary extra action.
An aggregator is different from the liquidity source
An aggregator searches among routes or pools and may split a trade. DeepBook can supply order-book liquidity to an interface that the user experiences as an ordinary swap screen. Compare the net output after costs and the exact token type, not simply the brand name of the visible frontend. A route through more contracts can add different failure and approval surfaces.
Lending: NAVI, Suilend and collateral health
NAVI and Suilend provide Sui lending markets. Users may deposit supported assets, borrow against collateral and monitor a health factor or equivalent risk metric. The asset accepted, variable borrowing rate and liquidation threshold are market-specific and can change. Scallop is another lending example. These names appeared in the Foundation’s DeFi category review; its historical TVL figures should not be mistaken for current standings.
Supplying a stablecoin is not the same action as holding it in a wallet. It adds smart-contract and market risk. Borrowing amplifies risk when collateral value falls. Read the protocol’s current market page before signing; a past headline APY does not establish today’s rate.
| Category | Named examples | What the user actually does | Main extra check |
|---|---|---|---|
| Swap and liquidity | Cetus, Aftermath, DeepBook integrations | Trade or provide liquidity | Token identity, slippage, price impact |
| Lending | NAVI, Suilend, Scallop | Supply collateral or borrow | Liquidation thresholds and variable rates |
| Derivatives | Bluefin | Trade products with additional market exposure | Leverage, margin and liquidation |
| Liquid staking | Haedal, SpringSui | Receive an LST claim on staked SUI | Redemption route and token liquidity |
| Identity and infrastructure | SuiNS, Walrus, Seal | Resolve a name or build an app | Correct product and network |
This is a function map, not a ranking by current deposits. A protocol can offer more than one function, and individual markets may be paused or changed. Confirm the live product before depositing.
Staking and liquid staking solve different problems
Native SUI delegation chooses a network validator and follows epoch-based reward accounting. Liquid staking protocols, including Haedal and Suilend’s SpringSui, issue a liquid staking token representing a claim on staked assets. That token can trade or be used elsewhere, but it adds contract, peg/liquidity and secondary-protocol risks. For the validator selection and withdrawal process, use our SUI staking walkthrough before considering an LST.
Stablecoins, naming and the wider Sui stack
Native USDC is available on Sui; verify the issuer and token identity because bridged and native variants can share a familiar symbol. Sui’s USDC resource lists ecosystem integrations. SuiNS makes a human-readable @name usable as an address alias; resolve it in your wallet and still verify the final address. The Sui identity overview explains SuiNS alongside zkLogin and Seal.
Walrus is a separate decentralized data network used with Sui applications, while Seal handles access policies for encrypted content. They are infrastructure, not alternative SUI tokens or Sui wallet networks. Games, NFT markets and developer apps can build on these layers. Our wallet comparison helps pick an account for using such apps.
An example route through the ecosystem
Consider a holder who has USDC on Sui and wants to use a lending market. First identify the native or bridged USDC token and ensure the market accepts that exact type. Connect a Sui wallet, inspect the market's current supply rate, liquidity and withdrawal conditions, then sign only the deposit that matches the intended asset and amount. The resulting receipt or balance in the lending app is not equivalent to an untouched wallet balance. If that user then borrows SUI against the deposit, collateral value and liquidation risk become new considerations.
For a user who simply needs SUI to pay gas, borrowing against USDC may be a needlessly complex choice. An exchange or supported swap can provide native SUI directly; compare the quote and destination before committing.
Games and digital collectibles have different risks
The ecosystem includes more than finance. Pebble City is a Sui-based social game; XOCIETY has used Sui for its gaming project; EVE Frontier has been developing Sui integration, with testnet work reported by its team. These examples demonstrate different stages of a product, so “announced,” “in testnet” and “live on mainnet” must not be flattened into the same status. A player should check the current game site for availability and whether a wallet is required before depositing funds or buying an item.
Sui Kiosk is an infrastructure primitive for digital-asset commerce. A marketplace can use it to display an item and encode transfer policies. Owning an NFT does not automatically grant a legal right to all associated media or guarantee resale value. Confirm the collection's actual object type, marketplace rules and any restrictions. These checks are different from choosing a DEX by quoted token output; that is why games and collectibles belong in a separate category from spot swaps.
A quick protocol check before connecting
- Follow the official project link and verify the domain from multiple reputable references.
- Check which Sui mainnet token and contract the app asks you to use. A familiar ticker is insufficient.
- Read the transaction preview, output amount and any collateral or leverage terms.
- Start with an amount you can test, then confirm the digest and object changes in an explorer.
- Keep enough SUI for gas and remember that a protocol’s interface, contracts and offchain services have different failure modes.