what's SpringSui?
SpringSui is a liquid staking token (LST) on the Sui blockchain, developed by the Suilend DeFi protocol. It represents staked SUI tokens, allowing users to earn staking rewards while maintaining liquidity for use in DeFi applications like lending and borrowing. Unlike traditional staking, SpringSui enables instant unstaking, providing infinite liquidity and reducing depegging risks associated with other LSTs. The protocol stakes underlying SUI to validators, including Suilend's own, to secure the network and generate rewards from gas fees and consensus participation. Users can swap SUI for sSUI (or SSUI) to participate in governance-like voting through staking allocation. SpringSui follows an open standard, allowing other teams to deploy their own LSTs permissionlessly on the platform. As part of Suilend's ecosystem, SpringSui integrates seamlessly with lending markets, enabling holders to lend or collateralize their LSTs for additional yields. This framework enhances capital efficiency on Sui, supporting the blockchain's object-centric model and Move programming language for secure, scalable DeFi operations.
Scallop's weekly incentives refresh includes expanded token allocations, notably ~26,000 sSUI.
contract
sui
Holds 61% of Sui's Liquid Staking Token TVL with a peak TVL of $378 million.
Scallop weekly incentives refresh includes expanded token allocations: ~306,000 sSCA, ~20,000 sDEEP, ~51,000 sWAL, ~5,900 sHAEDAL, and ~3,300 sCETUS alongside ~26,000 sSUI.
Scallop protocol launches weekly incentive program featuring ~26,000 sSUI tokens with up to 4x borrow reward APR boost reaching 3-digit APR.
sSUI tokens provide governance rights and can be obtained by staking SUI through the suilend validator.
DeFi protocol shows strong adoption with 650M TVL against 35M market cap, while launching liquid staking feature.
Mentioned as recommended way to get an airdrop, no specific dates or metrics provided.
Launched with $2M TVL within first 30 minutes of launch, representing significant upgrade to SUI's LST landscape.