Turbos Finance, a Sui ecosystem initiative, has presented a smart routing system designed specifically for the Sui-Move language. This is a first for a Sui DEX in production and a key innovation for capital-efficient swaps on the young network.
Sui users must now wrap USDC on the source network in order to utilize the stablecoin on Sui. Wrapped tokens traversing the Wormhole retain the quirks unique to their parent chain. Users may get USDCbnb and USDCsol on the Sui network, for instance, by bridging their USDC on the BNB chain and Solana chain to Sui using Wormhole. Prior to today, Wormhole was the sole way to bridge USDC from the Ethereum network.
Presently, the most well-known stablecoin on Sui is USDC, which is bridged from the Ethereum network through Wormhole. The favored denominator for DEXs on Sui has emerged as this specific version of USDC. Because of this, most DEXs do not allow the exchange of USDCbnb, USDCsol, or other USDC versions bridged from non-Ethereum networks for any Sui native asset. This has led to a problem with liquidity fragmentation and a horrible user experience for visitors to Sui. Turbos Finance and Wormhole, builders of the Sui ecosystem, took the initiative to provide a solution. Turbos, the second largest DEX in the SUI ecosystem according to DeFi Llama, is integrating stablecoin pairs (USDCbnb/USDCsol, etc.) on Sui.
Turbos launches its smart routing technology on Sui and creates many liquidity pools for USDC variants. Regardless of their origin from various networks, these ground-breaking advances completely unleash the unrealized potential of all USDC variations on Sui. Users may trade any bridging USDC asset variation wrapped by Wormhole against native Sui assets without any issues in a single transaction.
“Unlike on EVM networks, achieving smart routing within a DEX built on the Sui-Move language is non-trivial. I’m glad to see that our innovation reduces friction for users coming from other ecosystems to Sui” said Ted, co-founder and CEO of Turbos Finance.
Turbos Finance has grown to become one of the most significant DeFi protocols since its debut on Sui mainnet on May 4. Additionally, Turbos just finished a significant IDO including CEX listings for Gate.IO, KuCoin, Bybit, and DAO Maker. With the introduction of smart routing for stablecoins, Turbos solidifies its position as the top DEX for capital-efficient swaps.