Sui DeFi Projects Cetus and Aftermath Open Incubators
Two new incubators give builders expert technical, operational, and business advice, along with funding.
Sui DeFi decentralized exchanges Cetus and Aftermath Finance, in conjunction with the Sui Foundation, announced the launch of new incubators, giving fledgling projects additional paths to viability. Both DeFi projects have a long history on Sui, launching with Mainnet last year, and currently sit in the top five based on total value locked (TVL). The longevity and success of both projects positions them to offer critical expertise to new projects.
Projects accepted to the incubators can count on technical, operational, and business advice, and accelerated grant funding plus a myriad of additional support from the Sui Foundation. Both Cetus and Aftermath boast successful track records, as they played key roles in Sui's meteoric rise to one of the top DeFi blockchains. Sui Foundation will make an initial contribution of $2 million towards the project teams accepted into the incubators, and will commit to further investments should a large number of high-caliber teams and projects surface.
Aftermath offers an array of DeFi services, including trading, staking, and bridging. It won first place in Sui's liquid staking hackathon last year with its afSUI token. Liquid staking, which lets users leverage their staked tokens, has become one of Aftermath's essential services. Its smart order routing technology, relying on Sui's extraordinarily quick settlement times, optimizes trading activity.
Cetus' DeFi services combine trading, contributing to pools, and bridging, among other activities, and boasts over $150 million in TVL. It gives users a path to interact with DeepBook, Sui's first native liquidity layer. Along with retail services, Cetus also offers what it calls liquidity as a service, supporting integrations with Sui apps..
The launch of these incubators represents a major step in further decentralizing the Sui ecosystem, as it extends governance of ecosystem investments into the hands of proven builders who have supported Sui's advancement and growth from the beginning.
Builders interested in taking their projects to the next level can apply for the Aftermath incubator and Cetus' Aquarium incubator.
