Hidden Gems in the Sui Ecosystem's Liquid Staking Field: An Analysis of Haedal Protocol

Haedal Protocol is gradually becoming a leader in the liquid staking field within the Sui ecosystem. With the rapid development of the Sui staking market, Haedal's innovative products and strong data have made it a focal point for DeFi investors. Here are a few key points about Haedal that are worth noting:

The liquid staking market of the Sui network is still in its early development stage, with a total value of staked SUI amounting to approximately $307.48 million, but only 2% is liquid. In contrast, the liquid staking ratios for the Solana and Ethereum networks are 10.1% and 30.5%, respectively. This indicates that there is significant growth potential for the Sui ecosystem in terms of liquid staking. Currently, the TVL of the Haedal staking protocol has reached $120 million, and it is expected to become the leader in liquid staking within the Sui ecosystem.

One of the main challenges faced by the Sui network is its low annual staking yield, which is around 2.5%, compared to 7-8% for Solana and 3-4% for Ethereum. To address this issue, Haedal has adopted a dynamic validator selection mechanism and the innovative Hae3 framework, significantly enhancing the staking performance of the Sui network.

The Hae3 framework includes three main components: HMM, HaeVault, and HaeDAO.

1. HMM (Haedal Market Maker) optimizes the liquidity of various DEXs on the Sui blockchain by combining oracle pricing and real-time market data. From February to March, HMM's trading volume increased from $59.13 million to $284.15 million, generating $236,000 in fees. This raised the annualized yield of haSUI from 2.58% to 3.21%.

2. HaeVault simplifies the liquidity provision process for users, allowing them to easily deposit funds and obtain higher returns. Taking the SUI-USDC trading pair as an example, HaeVault has achieved a net annualized return of 938%, far exceeding other platforms.

3. HaeDAO empowers users with governance decision-making rights, further enhancing the stability and sustainability of the ecosystem.

Haedal's core metrics are performing strongly: TVL reached $117.36 million, daily active wallets exceeded 44,000, and the number of holders reached 794,000. In terms of trading volume, annualized yield, and holder scale, Haedal is currently in the lead.

The multiple uses of HAEDAL tokens further enhance their value. Users can lock them as veToken to participate in HaeDAO governance or use them to increase the annual yield of the treasury. Additionally, the airdrop opportunities common in the Sui ecosystem also bring extra benefits to HAEDAL token holders.

The support from several well-known venture capital firms also highlights the development potential of Haedal. With the continuous expansion of the Sui ecosystem, Haedal occupies a favorable position in the liquid staking field and is expected to become an industry leader.