Categories: Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards

Dubai, UAE, February 26th, 2024, Chainwire

The Layer-1 Received the Top Honor at the Eurasia Awards While Experiencing a Period of Unprecedented Growth and Recognition

Sui, the layer 1 blockchain that has experienced explosive growth since its mainnet launch in 2023, has emerged as the winner at the Eurasia Awards held during the second edition of AIBC Eurasia in Dubai. The gala event, renowned for its world-class attendance and previous winners such as Animoca Brands and Crypto.com, witnessed the Sui Foundation being honored for the leading position the blockchain has achieved during the past months. Other nominees for the 2024 award included Near Protocol and 1inch Network.

Sui’s recognition comes amidst its significant growth and influence in the blockchain space. The Sui ecosystem has gained significant traction during the past months. The layer 1 recently surpassed $600M in Total Value Locked (TVL) and secured a spot in the top 10 of DeFi ecosystems. Likewise, examination of token flows via Wormhole—a leading cross-chain protocol that supports Sui—shows that, of the almost $500M worth of funds that left Ethereum through Wormhole in the last 30 days, over 64% of it was moved to Sui.

The award decision was made on February 11, while the ceremony and the announcement took place on February 25, at the Festival Arena in Dubai. Sui’s dedication to pushing the boundaries of blockchain technology, as evidenced by its recent partnerships and expansions, has solidified its position as a leader in the industry.

Greg Siourounis, Managing Director of the Sui Foundation, said, “It’s truly an honor for Sui to receive this important recognition from AIBC. Winning the Eurasia Award for best blockchain solution speaks to the hard work and impactful contributions of the entire Sui community including our local partners like Ghaf Labs. This award should inspire builders on Sui to continue leveraging the network’s unique advantages and also encourage new or existing projects to opt into the fast-growing Sui ecosystem.”

The AIBC Eurasia Awards featured a diverse array of categories, each shining a spotlight on exceptional contributions within the blockchain and gaming industry. Other notable categories included “Web3 Gaming Leader of the Year,” “Crypto/Web3 Media of the Year,” and “Best Metaverse Project 2024.”

This distinguished panel that selected Sui as the Blockchain of the Year included industry veterans and business leaders such as Olga Yaroshevsky (Ph.D. and AIBC’s Lead Producer), Pavel Matveev (CEO at Wirex), and Giacomo Arcaro (renowned seed investor and Ethereum evangelist).