Turbos Finance Unveils a Novel Smart Routing Mechanism for Sui Ecosystem
Turbos Finance, an integrated project within the Sui ecosystem, has recently rolled out a pioneering smart routing mechanism purpose-built for the Sui-Move language. This introduction marks a significant milestone, being the first for a Sui Decentralized Exchange (DEX). It opens a new chapter for executing capital-efficient swaps on this emerging network.
Turbos Finance, a cornerstone project within the Sui ecosystem, has recently launched a ground-breaking clever routing mechanism explicitly tailored for the Sui-Move language. This is an industry first for a Sui Decentralized Exchange (DEX), and it represents a substantial breakthrough for executing capital-efficient swaps on this burgeoning network.
Currently, Sui users must wrap USDC (USD Coin) on the originating network to utilize the stablecoin on Sui. Tokens that are covered via Wormhole maintain characteristics unique to their originating chain. For instance, when users bridge their USDC from the Binance Smart Chain (BNB) or Solana network to Sui through Wormhole, they receive USDCbnb and USDCsol on the Sui network, respectively.
Currently, USDC bridged from the Ethereum network via Wormhole is the dominant stablecoin on Sui. This specific USDC variant has become the preferred asset for denominating trades on Sui-based DEXs. However, this poses a problem as USDCbnb, USDCsol, and other USDC variants bridged from non-Ethereum networks cannot be swapped for any native Sui asset on most DEXs. This issue has led to liquidity fragmentation and marred the user experience for newcomers to the Sui network. Sui ecosystem participants Turbos Finance and Wormhole have stepped forward to address this challenge.
Turbos Finance has introduced its innovative, intelligent routing system on Sui, complemented by establishing multiple liquidity pools for various USDC variants. This forward-thinking solution effectively uncovers the latent potential of all USDC variants on Sui, regardless of their originating network. It empowers users to trade any Wormhole-wrapped USDC variant effortlessly against native Sui assets in a single transaction.
Ted, the co-founder, and CEO of Turbos Finance, expressed his delight at this development, stating, “Achieving smart routing within a DEX built on the Sui-Move language is no small feat, especially when compared to EVM (Ethereum Virtual Machine) networks. I’m thrilled that our innovation is reducing barriers for users migrating from other ecosystems to Sui.”
Since its official launch on the Sui mainnet on May 4, Turbos Finance has rapidly become one of the most significant DeFi protocols. Introducing intelligent routing for stablecoins further solidifies Turbos’ standing as the premier DEX for capital-efficient swaps.
Turbos Finance is a supremely efficient decentralized crypto marketplace constructed on the Sui network. It has received investment from Jump Crypto and Mysten Labs. Turbos offers flexible liquidity provision modes to cater to users of varying experience levels, from novices to professionals. The company’s mission is to make decentralized finance (DeFi) accessible to the subsequent billion Web3 users and as a vital link between Sui ecosystem projects and the market.
For more information about Turbos Finance, visit https://turbos.finance/.