Sui ecosystem project Turbos Finance has announced the launch of a smart routing mechanism optimized for the Sui-Move language.
In a press release shared with Cryptowisser, Turbos Finance said this is a first in production for a Sui DEX and a significant breakthrough for performing capital-efficient swaps on the nascent network.
At the moment, Sui users are obliged to wrap USDC on the source network to access the stablecoin on Sui. Furthermore, USDC bridged from the Ethereum network through Wormhole stands as the prominent stablecoin on Sui.
Turbos Finance explained that this variant of USDC has emerged as the preferred denominator on DEXs on Sui. This implies that USDCbnb, USDCsol and other USDC variants bridged from non-Ethereum networks cannot be swapped for any Sui native asset on most DEXs.
This situation created a liquidity fragmentation issue and a terrible experience for users coming to Sui. Turbo Finance and Wormhole have now come up with a solution for this problem.
Turbos Introduces its smart routing system on Sui
Turbos Finance has now introduced its smart routing system on Sui and has also established multiple USDC variant liquidity pools.
This solution effectively unlocks the untapped potential of all USDC variants on Sui, regardless of the network. Turbos Finance’s smart routing system effectively unlocks the untapped potential of all USDC variants on Sui, irrespective of their origin from diverse networks. It also allows users to seamlessly trade any variant of bridged USDC assets wrapped by Wormhole against native Sui assets in a single transaction.
While commenting on this latest cryptocurrency news, Ted, co-founder and CEO of Turbos Finance, said;
“Unlike on EVM networks, achieving smart routing within a DEX built on the Sui-Move language is non-trivial. I'm glad to see that our innovation reduces friction for users coming from other ecosystems to Sui.”
Turbos Finance launched on the Sui mainnet on May 4 and has quickly grown to become one of the leading DeFi protocols on the blockchain. The team believes that launching smart routing for stablecoins cement Turbos’ position as the leading DEX for capital-efficient swaps.
Turbos is a hyper-efficient decentralized crypto marketplace built on Sui, invested by Jump Crypto and Mysten Labs. Flexible liquidity provision modes cater for users from beginner to professional levels. Turbos’ mission is to make DeFi accessible to the next billion Web3 users and to serve as a pivot between Sui ecosystem projects and the market.