The DeFi sector is showing some signs of making the cryptocurrency space more user-friendly and less daunting. THORwallet (RUNE-USD) has integrated staking capabilities with the Sui Network (SUI-USD), creating an efficient and user-friendly pathway for digital asset staking. This is a positive development for DeFi and staking enthusiasts for creating user-centric financial services.
The Sui Network is a layer-1 blockchain ecosystem dedicated to redefining digital asset ownership and the user experience within the Web3 space. One of Sui’s goals is to make blockchain technology more accessible and understandable to a wider audience – a necessary move to ensure the whole space can gain greater adoption.
Changing How Staking Rewards Can Be Claimed
A major change in the partnership between RUNE’s THORwallet and SUI is how staking rewards can be claimed. Typically, when you stake a cryptocurrency, you are rewarded with the tokens of that blockchain, but RUNE and SUI are making a change to that normal process.
THORwallet’s evolution continues with its strategic move to offer staking rewards in Circle’s stablecoin, USD Coin (USDC-USD), marking a significant shift towards stability and market preference. This transition signifies a keen understanding of what new users desire for rewards in a stable and reliable digital currency, enhancing the appeal of staking through THORwallet.
Moreover, the integration with the Sui Network is set to attract a diverse group of users, ranging from seasoned investors seeking new staking avenues to newcomers eager for a straightforward entry point into DeFi. The collaboration simplifies the staking process and aligns with THORwallet’s vision of providing a frictionless staking experience.
SUI TVL Drops, But Price Action Remains Bullish
Although there have been positive fundamental and technical developments, SUI’s Total Value Locked (TVL) growth has taken a hit over recent weeks. However, it’s worth noting that the broader market, in general, felt large outflows and the drop is not indicative of any specific bearish bias towards Sui Network. Despite fluctuations in TVL growth, the Sui Network has risen +15% over the past seven trading days.
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