Sui Ecological Liquid Staking Star Haedal: Innovative products and strong data lead the wave of DeFi investment

The liquid staking market on the SUI network is still in its early stages of development, with a total value of approximately $307.48 million in staked SUI, of which only 2% is liquid. In comparison, the Solana and Ethereum networks have liquid staking ratios of 10.1% and 30.5%, respectively. In this context, the Haedal staking protocol, which currently owns $120 million TVL, is expected to become the leader of liquid staking in the Sui ecosystem.

! Haedal Protocol Analysis: The No. 1 Seed Player in the Sui Liquidity Staking Track, TVL Crushes Competitors

The main challenge faced by the Sui network is its low annualized yield on staking at around 2.5%, compared to 7-8% for Solana and 3-4% for Ethereum. In response to this problem, Haedal has significantly improved the staking performance of the Sui network through the innovative Hae3 framework. The framework includes three core components, HMM, HaeVault, and HaeDAO, and outperforms other LSD protocols.

! Haedal Protocol Analysis: The No. 1 Seed Player in the Sui Liquidity Staking Track, TVL Crushes Competitors

Haedal adopts a dynamic validator selection mechanism, by monitoring the state of network nodes, selecting the node with the highest APR when staking, and giving priority to withdrawing from the low APR node when canceling the pledge, so as to ensure the high yield of liquid staking tokens. HMM (Haedal Market Maker) combines oracle pricing and real-time market data to optimize the liquidity of various trading platforms on the Sui blockchain, from which it charges 0.04% trading fees.

From February to March, Haedal's trading volume surged from $59.13 million to $284.15 million, generating $236,000 in fees. By dedicating 50% of revenue to incentives, haSUI's annualized rate of return increased by 24.4% from 2.58% to 3.21%.

A well-known DEX is currently the largest decentralized exchange in the Sui ecosystem, with a daily trading volume of $92 million. Haedal went live on January 6, 2025 and currently has a daily trading volume of $5.69 million, which is about 6.12% of the DEX's trading volume. By employing an oracle pricing mechanism, HMM is expected to achieve rapid revenue growth by capturing arbitrage volumes.

Haedal Vault simplifies the liquidity supply process for users, making it easy for users to deposit funds and earn higher yields. Taking the SUI-USDC trading pair as an example, a platform provides an annualized rate of return of 250.8%, while HaeVault achieves an annualized rate of return of 1117%, and the net rate of return is still as high as 938% after deducting 16% fees.

! Haedal Protocol Analysis: The No. 1 Seed Player in the Sui Liquidity Staking Track, TVL Crushes Competitors

Hae3 is deeply integrated into the Sui DeFi ecosystem (TVL exceeds $1 billion). HMM protocol captures transaction fee earnings, Haedal Treasury optimizes liquidity provider earnings, and HaeDAO empowers governance decision-making. This synergy makes Haedal a superior yield optimizer that is lacking in comparison to other protocols that focus on underlying staking and lending.

The application of HAEDAL tokens further consolidates their value. Users can lock them up as veToken to participate in HaeDAO governance or use them to enhance the annual yield of the treasury. Additionally, potential airdrop opportunities add extra appeal to them.

Haedal's core metrics are strong: $117.36 million in TVL, over 44,000 daily active wallets, and 794,000 holders. Currently, Haedal is temporarily ahead in three key metrics: trading volume, annualized rate of return, and holder size. The support of a number of well-known venture capital institutions further highlights its development potential.

Haedal stands out with a high-growth market (only 2% LSD penetration with 10x upside potential), innovative products and solid fundamentals. With the expansion of the Sui ecosystem, the protocol is in a strong position in the field of liquid staking and is expected to become an industry leader.