DefiLlama, which is among the most reliable DeFi analytics tool, has begun to monitor Ember Protocol on the Sui Network. It is a major step towards the two characters, Ember and Sui, because the addition of DefiLlama is usually an indication of a sense of credibility and increased usage. It is tracked that the total value locked (TVL) of Ember Protocol is 13.72 million. Although this is less than giants in Ethereum, this indicates high initial interest in the project.
What is Ember Protocol?
Ember Protocol is a vault platform that is organized. Non-custodial, permissionless vaults are operated by curators. Some of the strategies that can be deployed by these vaults include: Ember is not only a platform of vaults. It also allows single-asset yields, structured products, and tokenized assets. This creates flexibility to the investors as opposed to the traditional vaults.
Past reports had also associated Ember with AI-driven tools, indicating that the system can be upgraded to automated strategy management in the future. Security has also been addressed and features such as hardware wallet support mentioned in older updates to the project.
DefiLlama monitors more than 100billion in DeFi assets on various blockchains. DefiLlama provides an opportunity to be seen by investors and researchers worldwide by listing Ember. This increase in credibility would draw in more liquidity to Ember and should lead to the increase of its TVL beyond the existing value of $13.72 million. It seems that getting listed on DefiLlama is a kind of approval to new DeFi projects.
Why Sui Network
Sui is a Layer 1 blockchain that is used to build Ember and is fast and scalable. The technology that Sui uses enables it to process 100,000 transactions in a single second. Its special methodology, known as Pilotfish, enables the validators to scale automatically and execute smart contracts within a short period. This renders Sui suitable in the case of DeFi projects such as Ember which require high-speed and low-cost execution. Ember can achieve smoother, cheaper transactions by using Sui than older blockchains, which always experience congestion and a high gas fee.