Author: SAKE, Source: BlockTempo

Fireside Chat: The Next Phase of Web3

The first fireside chat: the next stage of Web3 kicked off with Evan’s self-introduction. Regarding the future development of Sui ecology, he said:

First of all, we have successfully completed the launch of the main network, and then we will pay special attention to the "early adopters", whether it is an ecological developer or a community. In the next few months, we will also see many teams actively working on the Sui ecosystem. building.

In addition, when it comes to the advantages of Sui, I think ZK Login is a good entry point. Users can use their existing supported OpenID services to create wallets (without annotations), such as Google, GitHub, Microsoft, Apple , Facebook, etc. This is also an experience that other chains cannot currently achieve, and I am very much looking forward to it.

As for the imagination of the next stage of Web3, Evan thinks:

In the future, the cycle of the encryption market will gradually stabilize, and there will not be such an obvious cycle as the current bull market and bear market. I think the bull and bear markets are part of the market cycle, not the focus of our attention. The most important thing is to build, ecology itself.

In addition, the host also asked the VC team at the scene, how do you view the current competitive trend of the major Layer 1 and Layer 2 public chains? Jessica, partner of **Appworks, said that the **community and developers are very important. Judging from the development history of the public chain in the past, these two will become important factors for winning.

Assembly Partners co-founder Henry mentioned:

Although Ethereum is currently the largest public chain of TVL, we have also seen some problems, including: MEV problems, high-tech users or giant whale users with excessive advantages, insufficient blockchain performance, etc., resulting in insufficient user experience. And now many applications only simply solve the needs of Web3, and do not actually solve the problems that actually occur in Web2, so our team also focuses on the research of non-EVM chains.

To move towards the next generation, I think "smart contract security and execution speed" will be very important, and SUI is one of the few smart contract public chains, and we have made complete preparations before going online, so we are very concerned about this. Optimistic, and expect it to bring more innovations.

At the end of the fireside chat, when the host asked Sui if there was any more important news (Alpha) in the second half of the year, Evan did not hesitate to answer: "Yes", pushing the atmosphere to the highest point.

How far is it from Sui's DeFi explosion

In the second stage, Sui development teams such as Typus Finance, Scallop, Supra Oracles, and Bucket Protocol were invited to chat about the current development of DeFi.

Among them, Typus Finance and Scallop have all had development experience in Solana. Regarding the differences in the development of the two chains of Solana and Sui, they all agree that Sui's blockchain has better security and is more beneficial to developers. Say more kindly. But Tommy, the founder of Typus Finance, also mentioned some advantages of Solana over Sui:

If you deduct Solana's past problems such as block downtime, I have always believed that Solana is very successful. Especially for hackathon, they are almost always at least one week, for example, Sui only has about three days, which is a resource that many public chains do not have, and they are willing to spend money to train developers.

In addition, I also think that they understand some native operations of the currency circle, such as some operations such as pump or meme (meme currency), which can actually bring a lot of TVL (locked amount) to the ecology.

Bucket Protocol is currently the only CDP protocol in the Sui ecosystem. Its co-founder Pierce believes that a complete financial ecosystem must have a CDP. He took Ethereum as an example. The current CDP protocol accounts for 25% of the entire chain’s locked positions. %, which is close to a quarter.

Note: CDP means that you can obtain liquidity through the mortgage mechanism without selling your own assets, such as: MakerDAO's decentralized stable currency DAI.

As for whether USDC and other large stable coins will affect the current CDP protocol in the Sui ecosystem after the deployment of Sui, Pierce said:

In the short term, the market share will definitely have an impact. But in the long run, I think this is not a bad thing. With the deployment of USDC, the Sui ecosystem will have the opportunity to be more prosperous, which will form a win-win situation.

Sui DeFi team development status:

**Typus Finance: **The main network has been launched on 5/3. In the future, a series of NFT Collection will be launched based on Dynamic field. The NFT collection will be linked with the interactive behavior of Typus Finance users.

Scallop: It is expected that the main network will be launched on 6/19-23, and will provide lightning loan services with zero fees.

Supra Oracles: Just launched the Supra Airdrop Campaign, complete tasks to get tokens.

Bucket Protocol: It is expected that the main network will be launched on 6/28.

Note: The intuitive use case of Dynamic field is to create an asset that can change dynamically, which can change according to different conditions. For example, a general membership card is an NFT. As the transaction volume corresponding to the membership card crosses a certain threshold, the card can be upgraded to a bronze, silver, gold, diamond, etc. membership card.

What will happen to the NFT on Sui?

The last stage is to talk about the development of NFT in the Sui ecology, inviting teams such as Releap, Somis, Lootex, and Dystopian Capital to talk together.

On Sui, most assets are owned by a single address and recorded on the object in the form of data values. These are called "owned objects". It is just like this that all the speakers agree that in Sui ecological development NFT will have special advantages. In this regard, Somis founder William said:

Sui's object-centered design allows users to truly own NFTs. This is different from other Layer-1s. Asset transfers on other L1s must be completed by calling contracts, so other L1 users do not really own assets. It also enables Sui to support Real World Assets (RWA)

Note: Objects are divided into shared objects and owned objects. The former refers to one object corresponding to multiple owners, and the latter refers to one object corresponding to one owner.

However, since the current Sui ecology is still in the early stage of development, how to let more people enter the field and understand its advantages, Releap founder Aaron believes**:**

Liquidity is very important, just like Blur, LooksRare and other platforms on Ethereum, they have some incentives and rewards to make users motivated to buy, and these platforms are not available in the early Sui, but I also know that these constructions are not It may happen overnight. As Sui continues to develop, I believe more users will join in the future.

During the event, the three symposiums each focused on major themes. The wonderful sharing of the speakers allowed all participants to have a deeper understanding of the issues of Sui and Web3, and also marked the perfect meeting for the first physical gathering of SUI and the community in Taiwan. Dot.