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Turbos Finance, an initiative within the Sui ecosystem, has unveiled a smart routing system tailored for the Sui-Move programming language. This marks a pioneering development for a Sui decentralized exchange (DEX) in operation and represents a significant advancement for capital-efficient swaps on the emerging network.
To utilize the stablecoin on Sui, users must now wrap USDC on the originating network. Wrapped tokens moving through the Wormhole maintain the distinctive characteristics of their parent chain. For example, users can obtain USDCbnb and USDCsol on the Sui network by bridging their USDC from the BNB chain and Solana chain to Sui via Wormhole. Until now, Wormhole was the exclusive method for bridging USDC from the Ethereum network.
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Currently, the most recognized stablecoin on Sui is USDC, which is bridged from the Ethereum network using Wormhole. This particular version of USDC has become the preferred standard for DEXs on Sui. Consequently, most DEXs do not permit the exchange of USDCbnb, USDCsol, or other USDC versions bridged from non-Ethereum networks for any native Sui asset. This situation has resulted in liquidity fragmentation and a subpar user experience for those accessing Sui. Turbos Finance and Wormhole, contributors to the Sui ecosystem, have taken steps to address this issue. According to DeFi Llama, Turbos is the second largest DEX in the Sui ecosystem and is incorporating stablecoin pairs (USDCbnb/USDCsol, etc.) on Sui.
Turbos is launching its smart routing technology on Sui and establishing multiple liquidity pools for USDC variants. These innovative developments fully unlock the untapped potential of all USDC variations on Sui, allowing users to trade any bridged USDC asset variation wrapped by Wormhole against native Sui assets seamlessly in a single transaction.
“Achieving smart routing within a DEX built on the Sui-Move language is not straightforward, unlike on EVM networks. I’m pleased to see that our innovation alleviates friction for users transitioning from other ecosystems to Sui,” stated Ted, co-founder and CEO of Turbos Finance.
Since its launch on the Sui mainnet on May 4, Turbos Finance has emerged as one of the most prominent DeFi protocols. Furthermore, Turbos has recently completed a significant Initial DEX Offering (IDO) that includes listings on centralized exchanges such as Gate.IO, KuCoin, Bybit, and DAO Maker. With the rollout of smart routing for stablecoins, Turbos reinforces its status as the leading DEX for capital-efficient swaps.
