The Sui Foundation has recently announced the completion of its first Hydropower Accelerator program, unveiling a list of twelve projects that have successfully graduated from the program. The Sui Network revealed on January 9th that the twelve teams are now equipped to further develop their solutions and utilize the Sui ecosystem for continued growth, including early access to new technologies.
Selected from a pool of hundreds of applications, the projects cover a wide range of sectors, from decentralized finance (DeFi) to real-world assets. Among the standout projects are 7k, a smart trading ecosystem that has quickly become Sui’s second-largest aggregator, and AdToken, a peer-to-peer advertisement network enabling businesses to launch on-chain ad campaigns. Other projects include InsiDeX, providing insights into DeFi activities on Sui, and Gifted, a digital gifting platform enhancing the experience of sending and receiving digital art.
The Hydropower Accelerator program, an eight-week initiative, aims to empower startups building on the Sui network by offering expert mentorship, hands-on learning, and access to critical resources. Throughout the program, participants receive guidance in technology, product development, marketing, and fundraising, while also engaging with Web3 experts and fellow builders. At the program’s conclusion, teams have the opportunity to receive feedback from “Sui-friendly venture capitalists.”
Looking ahead, Sui plans to support more builders by introducing additional programs in the upcoming year. This announcement comes amidst significant growth in the Sui ecosystem, with the project reaching a peak Total Value Locked (TVL) of $1.8 billion in the final quarter of 2024, more than doubling the previous quarter’s amount. The cumulative volume also surged nearly tenfold compared to the previous quarter, driven by decentralized finance, physical infrastructure networks, and gaming projects on the Sui blockchain.
Despite its growth, Sui faced controversy in October 2024 over alleged insider token sales. The Sui Foundation swiftly addressed these claims, emphasizing that token lockups are managed by qualified custodians and continuously monitored by the Foundation. Additionally, Sui has strengthened its market presence through key integrations and partnerships, such as collaborating with Ant Digital Technologies and ZAN to tokenize environmental and governance-backed real-world assets.
As Sui continues to expand its ecosystem and support innovative projects, the future looks promising for the platform and its community of builders.