The Sui Foundation has published a list of twelve projects that have completed its first Hydropower Accelerator program.
According to a message from January 9 announcementthe Sui Network has successfully completed its first Hydropower Accelerator program, with the twelve graduating teams now positioned to continue building their solutions and leveraging the Sui ecosystem for further development, including early access to new technologies .
From hundreds of applications, twelve teams were selected to join the inaugural cohort, with the selected projects focusing on a wide range of sectors “from DeFi to DePIN to real-world assets,” according to the Sui Foundation.
These projects include 7k, a smart trading ecosystem that quickly became Sui’s second largest aggregator; AdToken, a peer-to-peer ad network that allows companies to launch on-chain ad campaigns; InsiDeX, a platform that provides insight into all DeFi activity on Sui and Gifted, a digital gifting platform that improves the experience of sending and receiving digital art.
Other projects included Lotus Finance, a decentralized market maker; Nativerse, which focuses on non-custodial liquid staking; Nemo Protocol, a proprietary trading platform for returns; Pomerene, a DePIN solution for international trade, Printr, a tokenization and fundraising platform; and Protocol Media Labs, which aims to strengthen the journalism sector by offering decentralized tools.
No information has been released for one participant.
The Sui Hydropower Accelerator is an eight-week program designed to support startups building on the Sui Network, providing expert mentorship, hands-on learning and access to critical resources.
Throughout the program, participants will receive guidance in areas such as technology, product development, marketing and fundraising, while also having the opportunity to connect with Web3 experts and fellow builders.
At the end of the program, participating teams will have the opportunity to receive feedback from ‘Sui-friendly venture capitalists’.
Moving forward, Sui plans to support more builders by offering additional programs in the coming year.
The Sui ecosystem is expanding
The latest development comes as the Sui ecosystem has seen significant growth in the last quarter of 2024. According to the fourth quarter of 2024 reportSui reached a peak TVL of $1.8 billion, with an average TVL of $1.4 billion, more than doubling the previous quarter’s amount. Meanwhile, cumulative volume increased nearly ten times compared to the previous quarter.
Sui’s growth is driven by decentralized finance, decentralized physical infrastructure networks, and gaming projects built on the blockchain. Meanwhile, it has continued to strengthen its market presence through key integrations and partnerships.
Last month, the project partnered with Ant Digital Technologies and web3 plug-and-play tools provider ZAN to tokenize environmental and governance-supported real-world assets.
Meanwhile, Sui also found itself amid controversy in October 2024 over claims of alleged insider selling of tokens. The Sui Foundation quickly addressed this allegation and clarified that token lockups are managed by qualified custodians and continuously monitored by the Foundation.
