Supporting Sui’s DeFi Ecosystem
Recently, OKX Ventures just announced a seed round investment for Haedal, a liquid staking protocol built on Sui. Haedal allows users to stake SUI tokens with Validators for consensus rewards while unlocking LSTs concurrently. The function of LSTs can also be employed in DeFi applications that provide benefits to users on how to maximise token utilities without losing benefits emanating from their staking operations.
Enhanced On-chain liquidity
It has been designed to support the security and sustainability of the Sui blockchain by enabling active staking while granting on-chain liquidity. LSTs will be an essential part of this economy in their own right, allowing users to interact with DeFi protocols without giving up their staking rewards. This, in turn, strengthens the staking economy and DeFi infrastructure on Sui.
Yield Opportunities Expanding
Beyond the liquid staking solution, Haedal is innovating intensively to improve yield opportunities in the Sui ecosystem. Currently, it is developing a set of tools for retail and institutional players, focused on simplifying access to staking and optimizing rewards. Each of these different modules will contribute to its ability to serve users with various needs, further driving adoption for Sui staking.
Aligning with OKX Ventures’ Vision
OKX Ventures added that the investment is part of its strategy of investing in blockchain projects that focus on infrastructure and DeFi innovation. This investment, in particular, aims at further building out the budding DeFi ecosystem on the Sui blockchain to position the blockchain for broader adoption and long-term growth.
OKX Ventures’ Wider Blockchain Investments
This, other than investing in Haedal, has actively seen OKX Ventures support different blockchain ecosystems. In December 2024, it promised TON Ventures $5 million toward the creation of applications for Telegram-integrated use cases on The Open Network. These funds given would increase the value in this blockchain by creating an environment for the development of tools and applications to suit users better.
OKX Ventures also partnered with the Aptos Foundation to design an accelerator fund worth $10 million, which focused on further building up Web3 by incubating projects into infrastructure, gaming, and DeFi sectors. Aggregately, these investments depict the commitment of OKX Ventures toward innovation in blockchain technology and decentralized finance.
