Sui Ecosystem Development in October 2024: A Comprehensive Overview

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The month of October 2024 marked a pivotal phase in the evolution of the Sui blockchain, solidifying its position as a leading Layer 1 platform in the Web3 landscape. Dubbed "Uptober" across the industry, this period saw Sui achieve significant milestones in infrastructure, interoperability, decentralized finance (DeFi), and community growth. From the launch of critical cross-chain tools to the expansion of real-world applications, Sui demonstrated both technical maturity and ecosystem momentum.

This article provides a detailed breakdown of Sui’s key developments in October 2024, covering network upgrades, major protocol launches, ecosystem expansions, and upcoming opportunities for developers and users alike. Whether you're a blockchain enthusiast, developer, or investor, this guide offers valuable insights into Sui’s trajectory and its growing influence in decentralized technology.

Network Advancements and Infrastructure Upgrades

Sui Mainnet Core Updates

Sui’s core development team executed three crucial network updates in October, reinforcing stability, performance, and developer tooling. As per the publicly available network roadmap, these updates follow a predictable cadence across development, testnet, and mainnet environments—enabling seamless synchronization for builders.

As of early November 2024:

One of the most notable technical enhancements introduced in v1.36.2 is the consensus round probing for peer nodes, which improves network resilience and synchronization accuracy during high-throughput periods. This feature allows validators to more efficiently detect and respond to consensus delays, reducing latency and enhancing overall reliability.

👉 Discover how Sui’s consensus innovations are shaping high-performance blockchains.

Sui Bridge Goes Live on Mainnet

A cornerstone achievement in October was the official mainnet launch of Sui Bridge on September 30, with full ecosystem integration realized in early October. This native cross-chain solution enables trust-minimized asset transfers between Ethereum and Sui, marking a major leap in interoperability.

Initially supporting ETH and WETH, the bridge leverages secure multi-party computation (MPC) and decentralized guardians to minimize reliance on centralized custodians. Future expansions will include additional tokens and chains, further embedding Sui within the broader Web3 fabric.

By eliminating friction in asset movement, Sui Bridge empowers users to access Sui’s high-speed, low-cost environment without sacrificing security—paving the way for deeper DeFi and NFT integrations.

Native USDC Launch and Interoperability Expansion

On October 9, 2024, native USDC officially launched on the Sui mainnet—a transformative event for the ecosystem’s financial infrastructure. As one of the most widely adopted stablecoins globally, USDC brings essential liquidity and price stability to Sui-based applications.

Backed by Circle, native USDC on Sui ensures fast settlement, low fees, and seamless integration with DeFi protocols such as lending platforms, DEXs, and payment systems. Its deployment signals growing institutional confidence in Sui’s scalability and security model.

Moreover, the upcoming integration of the Cross-Chain Transfer Protocol (CCTP) will further amplify USDC’s utility. CCTP enables permissionless, secure transfers of USDC across supported blockchains—including Sui—without minting intermediaries. For developers, this means enhanced composability and the ability to build cross-chain-native applications directly on Sui.

Developer Empowerment: RFP 2.0 and Funding Initiatives

To accelerate innovation, the Sui Foundation revamped its Request for Proposals (RFP) program, now known as RFP 2.0. The updated framework introduces two distinct tracks:

This dual-track approach streamlines funding distribution, allowing developers to respond dynamically to ecosystem demands. Projects ranging from wallet improvements to decentralized identity solutions are now eligible for direct sponsorship.

👉 Explore how you can build on Sui and access developer grants today.

Walrus: Decentralized Storage Reimagined

Announced on October 17, Walrus—a next-generation decentralized storage network powered by Sui—launched its public testnet. Designed to handle large multimedia files including videos, images, and audio, Walrus leverages Sui as a coordination layer to manage thousands of storage nodes without compromising speed or reliability.

Unlike traditional storage protocols that struggle with scalability, Walrus uses object-centric architecture native to Sui, enabling efficient data indexing and retrieval. Early participants can engage via interactive tutorials and earn rewards for contributing storage capacity or testing network resilience.

This integration opens new frontiers for Web3 applications requiring rich media handling—from gaming and social platforms to AI-driven content systems.

“Walrus exemplifies how Sui’s architecture unlocks novel use cases beyond finance,” said a core contributor at Mysten Labs.

DeepBook V3 and DEEP Token Launch

On October 14, DeepBook V3 went live on mainnet alongside the debut of its governance token, DEEP. As Sui’s premier order-book-based decentralized exchange (DEX), DeepBook V3 introduces advanced features such as:

The release marks a shift toward greater decentralization, allowing token holders to vote on protocol parameters, fee structures, and future upgrades. With optimized capital efficiency and low-latency execution powered by Sui’s DAG-based consensus, DeepBook is positioned to become a cornerstone of Sui’s DeFi stack.

Gaming and NFT Innovation on Sui

Gamisodes Revives Inspector Gadget as an Interactive Series

In a bold move blending nostalgia with cutting-edge tech, Gamisodes launched an interactive version of the classic cartoon Inspector Gadget on Sui. Released on October 1 via mobile apps (iOS and Android), the first episode allows players to collect iconic gadgets as NFTs, unlock avatar items, and progress through episodic content.

Sui’s object model enables dynamic ownership rules for in-game assets, while its sub-second finality ensures smooth gameplay experiences—critical for real-time engagement.

Sweet MLS QUEST Brings Soccer into Web3

Sweet, in partnership with Major League Soccer (MLS), launched MLS QUEST on Sui—a gamified NFT platform where fans collect official soccer moments as video highlights. Built using Sui’s Kiosk standard, these digital collectibles come with customizable transfer restrictions, protecting authenticity while enabling fan-driven economies.

Additionally, sponsored transactions allow new users to claim NFTs without holding cryptocurrency—removing a major barrier to mainstream adoption.

Ika: Unlocking Cross-Chain Capabilities

Formerly known as dWallet Network, Ika emerged as a critical infrastructure layer enabling Sui smart contracts to interact with external blockchains like Bitcoin and Ethereum. Using secure multi-party computation (MPC), Ika allows developers to:

This capability positions Sui not just as a standalone chain but as a hub for cross-chain innovation.

Community Growth and Global Outreach

Sui’s global footprint expanded significantly in Q4 2024 through targeted community initiatives:

Understanding Core Technologies: DAG & Storage Fund

How DAG Powers Sui’s Performance

Sui leverages a Directed Acyclic Graph (DAG) instead of traditional linear blockchains. This data structure allows transactions to be processed asynchronously and concurrently—dramatically increasing throughput. With peak TPS reaching 634 over 30 days, Sui outperforms many competitors in scalability.

DAG enables parallel execution of independent transactions (e.g., peer-to-peer payments), while maintaining sequential ordering only when necessary (e.g., auction bids). This hybrid approach delivers both speed and consistency.

The Storage Fund: Sustainable Data Management

Sui introduces a novel Storage Fund mechanism that incentivizes efficient data usage. Developers pay storage fees when creating on-chain objects; when those objects are deleted, a portion of accumulated fees is returned as storage rebates.

This economic model discourages bloat and promotes clean-up—making long-term dApp sustainability viable without compromising functionality.

Chain Metrics Snapshot (as of Nov 7, 2024 UTC+8)

Data source: DeFiLlama – Sui Chain Overview

Frequently Asked Questions (FAQ)

Q: What makes Sui different from other Layer 1 blockchains?
A: Sui combines object-centric data modeling with DAG-based consensus, enabling parallel transaction processing, sub-second finality, and low fees—ideal for high-frequency applications like gaming and social networks.

Q: How does native USDC benefit the Sui ecosystem?
A: Native USDC brings stable liquidity to DeFi protocols, facilitates cross-border payments, and supports institutional-grade financial applications—all with fast settlement and minimal costs.

Q: Can developers build cross-chain apps on Sui?
A: Yes. Tools like Ika and CCTP enable seamless interaction with other chains. Developers can manage Bitcoin or Ethereum assets directly from Sui smart contracts using MPC-based infrastructure.

Q: Is there a way to earn rewards by participating in Sui testnets?
A: Absolutely. Projects like Walrus offer early participation incentives through testnet interactions. Keep an eye on official channels for reward campaigns.

Q: What is the role of the DEEP token in DeepBook V3?
A: DEEP serves as the governance token for DeepBook V3, allowing holders to vote on fee models, incentive distributions, listing proposals, and protocol upgrades.

Q: How does Sui support mainstream user adoption?
A: Through features like sponsored transactions (gasless onboarding), intuitive wallets, and mobile-first dApps such as Gamisodes and MLS QUEST—Sui lowers entry barriers for non-crypto natives.

Final Thoughts

October 2024 was a defining month for Sui—one characterized by technological maturation, strategic partnerships, and vibrant community engagement. With native USDC, Sui Bridge, DeepBook V3, Walrus testnet, and expanding real-world use cases in gaming and sports, the ecosystem is transitioning from infrastructure building to user-facing innovation.

As Q4 unfolds, all eyes are on Bangkok for Sui Connect and the Hacker House—an opportunity to witness firsthand how builders are shaping the next generation of decentralized applications on Sui.

👉 Start building on Sui today—unlock grants, tools, and a thriving developer community.