Sui Wins AIBC Eurasia Awards for 2024 Blockchain Solution of the Year

The Layer-1 Saw Unprecedented Growth and Recognition During the Eurasia Awards, Winning the Top Honor.

The winner of the Eurasia Awards, which were presented during the second AIBC Eurasia in Dubai, is Sui, a layer 1 blockchain that has grown rapidly since being live on the mainnet in 2023. The Sui Foundation was recognized at the prestigious gala event, which is well-known for its exclusive attendance and past winners, including Animoca Brands and Crypto.com, for the dominant position the blockchain has attained in recent months. Among the other contenders for the 2024 prize were 1inch Network and Near Protocol.

Sui’s acknowledgement coincides with its notable expansion and impact within the blockchain domain. Over the past few months, the Sui ecosystem has grown significantly in popularity. The layer 1 has landed in the top 10 DeFi ecosystems and just exceeded $600M in Total Value Locked (TVL). Analyzing token movements through Wormhole, a popular cross-chain protocol that facilitates Sui, reveals that more than 64% of the over $500M in money that left Ethereum through Wormhole in the last 30 days were transferred to Sui.

The choice for the award was decided on February 11; the announcement and ceremony were held at Dubai’s Festival Arena on February 25. Sui’s leadership in the industry has been cemented by its commitment to pushing the limits of blockchain technology, as seen by its recent partnerships and expansions.

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.”

Prominent business executives and industry experts like Giacomo Arcaro (well-known Ethereum evangelist and seed investor), Olga Yaroshevsky (Ph.D. and Lead Producer at AIBC), and Pavel Matveev (CEO at Wirex) voted Sui the Blockchain of the Year on this esteemed panel.