Author: Alex Liu, Foresight News
The "Memecoin Super Cycle" narrative is gaining popularity, and Sui, as the recent hotspot L1 public chain, has also produced a number of large MC memecoins - from the OG Meme Haba dog FUD that rose 5 times from the bottom, to the Sui chain hippo Hippo whose market cap once exceeded Ethereum, the emerging dirty fish Blub, the cat-themed Meme roaring black cat AAA on Sui...
Where is the best price for on-chain meme on Sui? How to interact with the chain at the same time, and what are the potential airdrop opportunities?
Hop Aggregator
Hop claims to be the fastest trading aggregator on Sui, and the overall user experience is indeed relatively superior. Its router can split a transaction into smaller transactions with the best prices across various DEXes (hops), so if you don't want to bother comparing, prioritize trading on Hop for the best prices.
The Fun module in the top right navigation bar represents the Meme token platform hop.fun that Hop will launch in the future, the development progress of which is currently unknown, but it should be quite advanced, as the project team has been teasing "Soon" since the end of May this year.
DEX landscape on Sui
Let's analyze the transaction paths on Hop. Hop believes that for the current transaction amount, the best exchange rates are on CETUS for USDC - SUI and wUSDC - USDC, on BLUEMOVE for SUI - AAA, and on Turbos for AAA - wUSDC.
This basically reflects the current competitive landscape of DEXes on Sui, where Cetus is the DEX with the highest TVL on Sui, and has the best liquidity for mainstream token pairs like USDC - SUI and wUSDC - USDC.
DEX TVL ranking on Sui, data source: defillama
Turbos and Bluemove have better liquidity for meme tokens. Many meme tokens' main liquidity pools are deployed on Turbos, while Bluemove is backed by its own new product, the meme token platform Move Pump.
Liquidity and trading volume distribution of the meme token AAA on DEXes
Among other high-TVL DEXes, Deepbook is a product of Sui's official development company Mysten Labs, a on-chain order book exchange that differs significantly from other DEXes. Deepbook announced that it will launch the DEEP token on October 14th, with a maximum supply of 10 billion and an initial circulating supply of 2.5 billion, the rest to be unlocked over the next 7 years. In addition to launching the DEEP token, Deepbook will also release V3 on the same day. The 101,968 holders of the DBClaimNFT will be able to claim their token allocation through the claim website on the token launch day; for users who participated in the V3 beta testing, Deepbook will analyze their quality and timely contributions, and provide another claim website within a few weeks after the token launch for them to check their eligibility and claim the rewards.
If you are eligible for the DEEP token airdrop, you can see the banner prompt in the official Sui Wallet.
Another noteworthy DEX on Sui is Aftermath.
Aftermath
Aftermath is the second largest DEX on Sui by TVL (but about half of its TVL comes from the LST product afSUI), and it is also an aggregator that claims to be an "aggregator of aggregators", comparing quotes from multiple aggregators to choose the best execution.
However, Hop's API has blocked Aftermath's calls, and Aftermath sometimes loads the webpage slowly and has unstable RPCs, resulting in an overall experience not as good as Hop.
Aftermath's advantage is that it is not just an aggregator, but can also provide liquidity staking for SUI to earn afSUI and yield options. If it issues a token, the token's potential will be greater than a pure aggregator.
Yields in the Aftermath Farm
Providing SUI - afSUI liquidity and staking it in the farm can earn over 12% SUI-denominated yields. Trading and providing liquidity on Aftermath also has the potential to earn future token airdrops.
Aftermath has also launched an NFT series called Egg, which currently has no utility, but the official says "Buy eggs and get ready for Aftermath's future".
The current floor price of Egg on Tradeport is 105 SUI. The whitelist mint price was 20 SUI, and the public sale price was 40 SUI.
