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Turbos Finance Introduces Smart Routing for Stablecoins on Sui

The feature aims to reduce friction for users coming from other ecosystems to Sui and improve liquidity.

By Lyllah Ledesma
AccessTimeIconJun 6, 2023 at 12:00 p.m. UTC
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Turbos Finance, a decentralized exchange (DEX) built on the newly live layer 1 Sui blockchain, is now offering smart-routing for stablecoin swaps on the network, establishing multiple USDC variant liquidity pools.

The launch will allow customers to seamlessly trade any variant of bridged USDC assets wrapped by the Wormhole bridge against native Sui assets, the company said in a press release.

Currently, users have to wrap their USDC on the source’s network in order to access the stablecoin on Sui. Wrapped tokens are used to move assets between blockchains that are incompatible with each other via a bridge.

Turbos is offering a smart routing system on Sui to offer multiple USDC variant liquidity pools, the press release said. “This advancement unlocks the untapped potential of all USDC variants on Sui, irrespective of their origin networks,” said the release.

Sui, the Aptos rival, has a $2 billion valuation and was founded by ex-Meta Platforms (META) employees. Sui has more than 200 projects in its directory and another 100-odd projects vying to build on its network.

According to DeFiLlama, Turbos is the second largest DEX built on Sui.

Edited by James Rubin.

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Lyllah Ledesma
Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Follow @LedesmaLyllah on Twitter

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