Momentum: From the Sui Ecosystem Core DEX to the Next-Generation Financial Liquidity Engine

As the blockchain market matures, the speed at which institutional funds and regulated assets enter the chain is accelerating. In the past, decentralized finance (DeFi) mostly focused on the liquidity and trading of crypto assets. Now, some projects are starting to explore expanding to more comprehensive financial services. The industry generally believes that this transformation requires four conditions: smooth user experience, cross-chain liquidity integration, support for tokenized real-world assets, and a robust security system.

From Multisig to Liquidity Engine

The Momentum team had previously launched a multisig management scheme, MSafe, in the Move ecosystem, which was later used by several projects for treasury management on Aptos and Sui. This background led the team to make security one of the core design principles for Momentum, including measures such as smart contract audits, code reviews, and real-time monitoring.

In May 2025, after a security incident hit Cetus, a leading DEX in the Sui ecosystem, Momentum collaborated with the Sui Foundation to participate in ecosystem security reinforcement. Subsequently, the platform's TVL was restored and continued to rise.

Cross-Chain and Liquidity Integration

Momentum is built on the L1 public chain Sui, leveraging the chain's high performance and low fees to provide an on-chain experience close to centralized exchanges. However, Sui lags behind other public chains like Ethereum and Solana in terms of liquidity scale.

To address this situation, Momentum partnered with the cross-chain protocol Wormhole and introduced the Native Token Transfers (NTT) framework, becoming the first project in the Sui ecosystem to adopt this technology. NTT enables native token cross-chain transfers without the need for traditional wrapping methods. With this solution, tokens like ETH, SOL, and BONK can be traded on Sui in their native form, enhancing cross-chain liquidity depth and maintaining composability with the native Sui protocol.

Advancing Tokenized Asset Trading

Momentum is developing a tokenized asset trading platform and has already onboarded stablecoins issued by compliant institutions with real-world asset backing, including USDC (Circle), USDY (Ondo US Dollar Yield), and FDUSD (First Digital USD).

In the future, the platform plans to expand to various asset classes such as stocks, bonds, commodities, and collaborate with custodians to ensure the legality and security of on-chain transactions. By centrally managing tokenized assets from different sources, users can trade cryptocurrencies, stablecoins, tokenized securities, and other assets on a single platform simultaneously.

Project Incubation and Ecosystem Development

Momentum also plans to launch a Launchpad linked to its DEX to provide funding and user resource support for early-stage projects. The platform will primarily target early-stage, high-potential projects through a project screening mechanism, rather than being open to all types of token issuance.

Funding and Partnerships

Momentum has received investment from Coinbase Ventures, OKX Ventures, Circle Ventures, Superscrypt, among other institutions, with Superscrypt being backed by a Singaporean sovereign wealth fund. The most recent strategic funding round amounted to $100 million, led by OKX Ventures.

The project team maintains a strategic partnership with the Sui Foundation and Mysten Labs CPO Adeniyi Abiodun, and engages in business collaborations with various ecosystem projects such as Agora, Ondo Finance, NAVI Protocol, SuiLend, Turbos Finance, and more.

The core team members include CEO Wendy Fu (Ph.D. in Computer Science from the University of California, Berkeley, who has been involved in the Meta Libra/Diem project and Move language development) and Co-founder Jacky Wang (who previously worked on cross-chain technology research at Harmony).

Current Status and Future Direction

Currently, Momentum's TVL is approximately $150 million, ranking first in the Sui ecosystem. As cross-chain liquidity, tokenized assets, and Launchpad functionality are gradually implemented, its positioning is evolving from a single exchange to a multi-functional financial infrastructure.

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