MEJ毛毛姐
MEJ毛毛姐|May 28, 2025 12:15
Recently, Cetus has been attacked, causing many people to question the security of Sui. Can a public chain prevent hackers from transferring money? Is this still called decentralization In fact, this is the biggest misunderstanding of "decentralization". A truly mature ecosystem relies not on confrontation, but on consensus and collaboration. 1、 Cetus being attacked does not mean Sui is insecure The root cause of this incident is the integer overflow vulnerability in the Cetus smart contract itself, not a systemic problem in the Sui chain layer. There were no abnormalities in the underlying operation of Sui, and the network was not invaded. More noteworthy is the Sui ecosystem's response to the attack incident: 1. No centralized permissions were used, and there was no rollback of blocks; 2. The validators collectively reach a consensus and, under the coordination of the Sui Foundation, choose not to package hacker transactions; 3. Multiple ecological protocols actively suspend operation, cutting off the arbitrage path for hackers. This series of reactions indicates that although Sui is a high-performance chain, it does not lack "system level responsibility consensus capability". This is not centralized intervention, but an active defense mechanism for a mature decentralized ecosystem. 2、 Why am I starting to value Momentum Finance After this incident, Momentum was the first DEX to resume operations after confirming the security of its own code. @MMTFinance Its quick response is not 'radical', but a confidence in systemic safety. Momentum has deployed the following key mechanisms in advance: 1. Contract permissions are controlled through multiple signatures to prevent risks associated with single point permissions; 2. All contracts have undergone unit testing and extreme scenario integration testing, covering issues such as integer overflow; 3. Separation of front-end and back-end to ensure isolation between the user interface and the contract layer; 4. Real time on chain monitoring mechanism that can capture anomalies in a timely manner; 5. The supporting security bounty program and external audit arrangements form a long-term protective net. At the time of the incident, Momentum actively assisted in tracking the hacker's address, cooperated with the foundation to submit technical reports, and assumed the ecological responsibility that a DeFi project should have. 3、 At the current stage, Momentum's incentive strength and mechanism design are worth paying attention to Starting from May 25th, Sui Foundation announced on chain incentive support for Momentum, while MMT officially increased rewards, including: Sui Foundation provides 3 times SUI incentive; Momentum offers a 3x Brick incentive; The annualized LP returns of mainstream trading pairs such as SUI-USDT and SUI-USDC have exceeded 250% and remain relatively stable. Behind this is the complete ecosystem of native assets on the Sui chain, especially USDC and USDT, which have been bridged and connected through official cooperation, allowing direct participation in LP mining and liquidity deployment without cross chain involvement. 4、 Ve (3,3): Highlights of the economic model of Multium The ve (3,3) model introduced by Momentum combines the governance mechanism of veToken with the (3,3) game structure proposed by Olympus, aiming to solve the two major problems of traditional DEX: Short term incentives: users exit after completing tasks; Concentration of power: A few wealthy individuals lock up their positions and gain all decision-making power. Under the ve (3,3) model: Users can obtain veMMT by locking their positions, participate in voting, and earn profits; The voting rights are linked to incentives, and the allocation mechanism is dynamically adjusted; The system encourages collaboration among liquidity providers rather than unilaterally seizing profits. This model has been validated to be effective on both Arbitrarum and Polygon, and theoretically has stronger scalability on chains like Sui that have high performance and low cost. 5、 The role of Momentum in the Sui ecosystem The Sui ecosystem is rapidly expanding, DeFi、 The game, AI, RWA and other tracks are advancing simultaneously. As one of the few DEX on Sui that has received sustained official incentive support, Momentum's position is rapidly rising. According to on chain data, as of now: The total amount of TVL is close to 1.4 billion US dollars; The monthly DEX trading volume has exceeded 7.2 billion US dollars; Momentum holds the main market share in stablecoin trading and has become an indispensable DeFi infrastructure on Sui. Momentum itself has key factors for medium to long-term development in terms of brand, technology, and user structure, but the current market valuation is still in its early stages, leaving room for valuation restructuring. Conclusion: A 'hacker incident' not only exposed problems, but also the resilience of the ecosystem The Cetus incident was a crisis and a test. Sui did not evade, Momentum did not back down. They use practical actions to tell everyone that in a truly decentralized world, it's not about controlling security through permissions, but about achieving autonomy through mechanisms and collaboration. If you are looking for a DeFi asset with motivation, confidence, and growth potential, I would prioritize Momentum. @SuiNetwork @SuiInsiders sui DeFi
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