Sui announces 12 projects from its first Hydropower Accelerator Program

Sui Foundation has published the list of twelve projects that have completed the first Hydropower Accelerator programme.

According to the announcement made on January 9, Sui Network has successfully completed its first Hydropower Accelerator program; The twelve graduating teams are now positioned to continue developing their own solutions and leverage the Sui ecosystem for further development, including early access to new technologies.

Twelve teams were selected from hundreds of applications to join the inaugural group, and the selected projects targeted a wide range of sectors, from “DeFi to DePIN to real-world assets,” Sui Foundation said.

These projects include 7k, a smart trading ecosystem that quickly became Sui’s second largest aggregator; AdToken, a peer-to-peer advertising network that allows businesses to launch on-chain advertising campaigns; InsiDeX is a platform that provides insights into all DeFi activities on Sui and Gifted, a digital gifting platform that enhances the experience of sending and receiving digital art.

Other projects include Lotus Finance, a decentralized market maker; Nativerse, which focuses on non-custodial liquid staking; Nemo Protocol, a native yield trading platform; Pomerene, a DePIN solution for international trade; Printr, a tokenization and fundraising platform; and Protocol Media Labs, which aims to strengthen the journalism industry by providing decentralized tools.

Details of one participant were not disclosed.

The Sui Hydropower Accelerator is an eight-week program designed to strengthen startups built on the Sui network, offering expert mentorship, hands-on learning and access to critical resources.

Throughout the program, participants receive guidance in areas such as technology, product development, marketing and fundraising, while also having the opportunity to interact with Web3 experts and other developers.

At the end of the program, participating teams have the opportunity to receive feedback from “Sui-friendly venture capitalists”.

Sui plans to support more builders by offering additional programs next year.

Sui ecosystem is expanding

The latest development comes as the Sui ecosystem witnessed significant growth in the last quarter of 2024. According to its Q4 report, Sui more than doubled the previous quarter’s amount, reaching an average TVL of $1.4 billion to a peak TVL of $1.8 billion. Meanwhile, its cumulative volume increased approximately 10 times compared to the previous quarter.

Sui’s growth is driven by decentralized finance, decentralized physical infrastructure networks, and gaming projects built on blockchain. Meanwhile, it continued to strengthen its presence in the market through significant 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-backed real-world assets.

Sui, meanwhile, found himself at the center of controversy over allegations of insider token sales in October 2024. The Sui Foundation quickly addressed this claim and clarified that token lockups are managed by qualified custodians and are constantly monitored by the Foundation.