We leapt into @SuiNetwork in 2024, and have since integrated with 25 DEXes & AMMs!
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Note: This post is only regarding Kriya Strategy Vaults. Kriya DEX (both v3 CLMM and v2 AMM LP pools) continue to function as usual. No action required from DEX users.
Important Update🧘
We're sunsetting Kriya Strategy Vaults (both LP Rebalancing and Lending). Users are requested to start withdrawing their capital. We will be disabling all on-chain functions except withdrawal & deprecating the vaults UI after 30 days.
https://t.co/9VaYOExMuj
Vaults demand constant iteration. As many might know, we're shifting our focus to new verticals where we believe we can drive greater impact.
We're confident users are in good hands with ecosystem projects like @kai_finance_sui & @AlphaFiSUI who keep innovating with new vaults.
Surprise refill!💧Enjoy 3x the usual APY on the following LP Pools for the next 7 days! 🧘
https://t.co/HF1jbC395h
Lets keep the liquidity flowing on the water chain! 🌊
As a project directly impacted by the Cetus hack and a validator on Sui, Kriya will be voting YES on the upcoming resolution.
Here’s why:
1. Kriya has direct financial exposure to the exploit:
> The KDX liquidity pool on Cetus, our primary trading venue, was drained.
> Users of Kriya Vaults, particularly the LP Rebalancing Vaults built on top of Cetus, also suffered material losses.
2. Cetus wasn’t just another DEX—it was the biggest DEX on Sui by TVL and Volume. It hosted the deepest pools for stablecoins, haSUI, memecoins, and upcoming BTC pairs. Locking this capital forever would be a net negative for the ecosystem. Many DeFi protocols will see reduced traction as a result of this sudden, severe liquidity vacuum and trust shock.
3. We disagree that this is collusion—it’s coordination. The initial validator decision to block the hacker’s transactions was a consensus-based emergency response. The current vote goes a step further: processing an unsigned transaction from the hacker wallet to return funds to Cetus. We acknowledge this introduces a complex governance question—validators in PoS should govern fork choice, not validity of state transitions. However, since this is being done via an on-chain protocol upgrade, not a rushed validator patch, and with open community input, we view it as a justified exception. We support it only on the condition that this upgrade does not introduce any ongoing backdoor mechanism and is limited strictly to this incident.
4. The reputational risk of inaction outweighs that of overreach. Users who lost funds may never return to Sui—and will discourage others from doing so. That’s a deeper, more durable reputational hit than any short-term “centralization FUD.”
As a precaution, Kriya paused its DEX and Vault contracts. Following a thorough audit, all services are now live again. All funds on Kriya remain SAFU.
Note: The KDX pool on Cetus was drained. Liquidity will soon be redeployed on a new venue.
It’s been a tough day for Sui DeFi, but we’re confident the ecosystem emerges stronger. We stand with the Cetus team and applaud the swift, coordinated response from the Sui Foundation, validators, and fellow protocols.
🚨ANNOUNCEMENT
As of earlier today, we have confirmed that an attacker has stolen approximately $223M from Cetus Protocol. We have took immediate action to lock our contract preventing further theft of funds.
$162M of the compromised funds have been successfully paused. We are working with the Sui Foundation and other ecosystem members right now on next-step solutions, with the goal of recovering the remaining stolen funds.
The majority of impacted funds are paused and we are actively pursuing paths to recover the remainder. We have no higher priority and will provide further updates as they become available through this channel. A full incident report will be disclosed later. We are sincerely grateful for your patience. 🙏
Sui Ecosystem Accelerates: Key Growth & Tech Milestones
• BTCfi on Sui: 596 BTC bridged supported by partnerships with @babylonlabs_io & @Lombard_Finance for native BTC staking and yield.
• @suilendprotocol: Lending protocol which reported $15M in annualized revenue (Feb 2024) and directs 70% of these earnings to its treasury.
• @SteammFi: Superfluid AMM that boosts capital efficiency by funneling idle liquidity into lending markets.
• @AftermathFi: Introduced MetaStables for oracle-based stablecoin minting & slippage-less trades, along with a perp dex in testnet.
• @WalrusProtocol: Recently launched its decentralized storage solution after a $140M fundraise.
• @CetusProtocol: DEX and concentrated liquidity protocol.
• @KriyaDEX: Developing a suite of DeFi tools (AMMs, Perps, Yield Vaults).
• @bluefinapp: Perps with a decentralized order book and concentrated AMM.
• @navi_protocol: Lending market that issues its own Liquid Staking Token.
• Major financial players like Grayscale, Franklin Templeton, and VanEck are launching products or initiatives on Sui.
• Mysticeti v2 slashes consensus latency to ~390ms (from ~1900ms), boosting network speed.
Two years ago, Sui was a single ripple — now it’s a rolling tide, lifting builders, dreamers, and degens on waves of possibility. Here’s to every crest we’ve conquered and the deep blue still ahead.
What was your favorite water chain history moment?
PSA: We're pleased to inform the community that the issue regarding the Kriya Frontend is resolved, however DNS propagation across all geographies may take upto 2 more hours. We appreciate your patience during this time. Smart contracts and backend APIs are functioning like usual
MORE INCENTIVES FOR LIQUIDITY PROVIDERS 🫳
500,000 $KDX will be emitted over the next 7 days. LPs of the following concentrated liquidity pools will be eligible🧘
DEEP-SUI📘
WAL-SUI🦭
USDC-USDT💲
USDC-SUI💧
https://t.co/zrCOwTJEg0
PSA: $KDX stakers who don't unstake after position expiry, continue to receive boosted APY with the same stake weight.
In simple terms, if you staked tokens for 90 days, you don't have to withdraw and stake again on the 91st day. You keep receiving the same boosted yield till you hold the position and the principle amount is not even locked anymore.
As part of KIP-1 resolution, we have bought back 1.67M $KDX tokens with fees generated from strategy vaults🧘
> 1M $KDX tokens have been burnt to support price 🔥
> The remaining 676k tokens will be emitted to $KDX stakers starting April 20, further increasing their APY💧
https://t.co/BvlJ1sjYa7