Sui has been rapidly emerging as a top-layer platform for Bitcoin decentralized finance (DeFi). It offers the richest selection of interoperable integrations that can connect holders of Bitcoin for amazing new business-building possibilities. The Sui ecosystem is already home to several unique integrations, further entrenching its place in the BTCfi landscape. Sui is quickly proving that it’s the front-runner for onboarding Bitcoin users and developers. It now has more than 10% of its total value locked (TVL) in assets pegged to Bitcoin.
Combined, Sui presents an entirely new experience for users. Here, custodial bridges, synthetic derivatives, and trust-minimized assets co-exist and flourish together, providing users a robust suite of options to maximize the utility of their Bitcoin assets. Sui is realizing the full potential of Bitcoin within its own ecosystem. It is accomplishing this via tactical collaborations on projects like Stacks, Babylon, Redstone, Lombard, Cubiest and SatLayer.
Trust-Minimized Bitcoin on Sui
Among BTCfi protocols like LayerZero, Synapse, and Axelar, Sui distinguishes itself with a decentralized network of signers for sBTC — Sui Bitcoin. Written in Move, this groundbreaking technique allows a trust-minimized representation of Bitcoin to exist on the Sui blockchain. Wrapped assets such as wrapped Bitcoin (wBTC) rely on trusted intermediaries. In contrast, once established, they must strive exhaustively to preserve the peg to Bitcoin. Sui’s trust-minimized design lets Bitcoin holders do risky DeFi stuff without the central counterparty risk of CeFi.
"Participating on Bitcoin directly is still limited. Having an L1 like Sui recognize sBTC on Sui means all holders can earn yield and stay true to Bitcoin’s trustless ethos, wherever they choose to do DeFi." - Rena Shah
Sui's sBTC implementation allows Bitcoin holders to earn rewards and participate in DeFi activities using their Bitcoin, all while adhering to Bitcoin's fundamental principle of trustlessness.
Expanding Bitcoin's Utility
Sui enables users to do more than simply hold their Bitcoin. It provides exhilarating new ways to directly participate in DeFi protocols and realize lucrative returns. The platform now supports Wrapped Bitcoin (WBTC) through the Sui Bridge. This feature allows users to easily move their WBTC over to the Sui blockchain. Now that you’re on Sui, you can take your WBTC and deploy it into decentralized exchanges such as Bluefin. Dive into lending protocols like Suilend and Navi to open new doors for yield generation and increase the utility of your Bitcoin assets.
"Most of us begin our journey in digital assets as Bitcoiners, drawn to BTC as a secure and valuable blue-chip asset—but until recently, Bitcoin’s utility has primarily been limited to a store of value." - Adeniyi Abiodun
Collaborations and Integrations
Sui continues to build BTCfi focused strategic partnerships to strengthen its Bitcoin capabilities and expand the scope of the Bitcoin community’s BTCfi ambitions. Perhaps the most ambitious of these partnerships comes from Bitlayer, who’s working to deploy the “first trust-minimized BitVM bridge” on Sui. As such, this bridge enhances the privacy and security of Bitcoin transactions. It further improves the efficiency of moving Bitcoin to and from the Bitcoin network and the Sui blockchain.
Sui recently partnered with Stacks, a Bitcoin layer-2 network. Our partnership brings a smooth and easy deployment of Bitcoin into Sui DeFi protocols with no time-consuming centralized custodians. Through this integration, Bitcoin holders will be able to easily access DeFi opportunities on Sui. They can do this while maintaining full ownership of their assets.
"This integration between Sui and Stacks will enable Bitcoin holders to deploy their BTC into DeFi through Sui without any reliance on centralized custodians." - Rena Shah
Sui is one of a quickly growing number of layer-1 blockchains adding support for Bitcoin-based functionality, including Solana, Aptos, and Cardano. Sui’s approach is most noteworthy for its complete suite of out-of-the-box integrations and industry-leading focus on trust-minimized solutions.
"We look for potential integrations that will enhance user and developer experiences within a secure, fast, and reliable environment." - Adeniyi Abiodun
Sui places a premium on user experience and security. They show this commitment by being extremely choosy with partners and building a real, robust, and credible BTCfi ecosystem.
