Interview with Mysten Labs Co-Founder: From Technological Innovation to Ecosystem Development — Ambitions Beyond Just the "Solana Killer"
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Interview with Mysten Labs Co-Founder: From Technological Innovation to Ecosystem Development — Ambitions Beyond Just the "Solana Killer"
Attracting outstanding developers to build successful projects on SUI will be a key factor in driving SUI's growth.
Navigating Web3 tides with focused insightsCompiled & Translated: TechFlow
Guest: Adeniyi Abiodun, Co-founder of Mysten Labs & SUI Developer
Host: Nic
Podcast Source: More Coin Bureau
Original Title: SUI Is Crushing It! Insights & Predictions with Adeniyi Abiodun!!
Release Date: November 11, 2024
Background Information
Nic interviewed Adeniyi Abiodun, co-founder of Mysten Labs — the team behind SUI. This emerging Layer-1 blockchain has performed exceptionally well in 2024 and is gaining strong momentum. Don’t miss this exclusive interview for firsthand insights into the platform dubbed the “Solana killer.”
TechFlow Note:
Mysten Labs is a company focused on blockchain technology and cryptocurrency infrastructure. It was founded by former Facebook (now Meta) employees who played key roles in Facebook’s blockchain projects Diem and its cryptocurrency wallet Novi. Mysten Labs aims to develop next-generation blockchain technology to improve scalability, security, and decentralization.
One of Mysten Labs’ most notable projects is the Sui blockchain — a high-performance, decentralized blockchain platform designed to support large-scale applications and fast transaction processing. Sui employs a novel consensus mechanism and data structure to achieve higher throughput and lower latency.
What is SUI, and How Did It Begin?
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In the podcast, Adeniyi Abiodun introduced SUI’s background and mission. He emphasized that SUI is a global coordination layer aimed at solving the increasing centralization of the internet. Adeniyi and his team previously worked on Facebook’s Libra project; although Libra never launched, they remained committed to realizing their vision of building a global computer.
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The core goal of SUI is to create a set of protocols and platforms that make the internet more decentralized, enabling developers to build interoperable services and products without relying on centralized intermediaries. This increases efficiency, reduces costs, and unlocks new use cases previously impossible.
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Adeniyi stressed that SUI is not just another blockchain but a powerful developer platform that allows services or APIs to be exposed via smart contracts. He described how SUI enables developers to coordinate various assets and services using simple code (like JavaScript), even executing multiple transactions in a single click.
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He also noted that in just a year and a half, SUI has achieved significant growth in the blockchain market, outperforming many blockchains that have existed for years. This reflects rapidly growing influence and market share among developers.
Why Was SUI Created, and What Is Its Connection to Meta?
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Adeniyi mentioned that one of SUI’s core innovations is its unique smart contract programming language — Move, originally developed at Meta (formerly Facebook). He explained that Move was created by SUI CEO Sam Blackshear during his time at Meta to build a secure platform for handling digital assets and funds.
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While developing Move, the team studied multiple programming languages including Solidity and Rust. Adeniyi emphasized that traditional languages fall short in safety and developer-friendliness, necessitating a new language that ensures code security in decentralized environments. Move stands out for its simplicity and efficiency — developers can accomplish more with less code, without needing complex security checks, reducing vulnerability risks.
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He further explained that SUI is an object-based system rather than a traditional account-based model, giving developers greater flexibility when building applications. Adeniyi pointed out that Move has a short learning curve — developers typically master it within three to four days — enabling them to quickly build high-quality apps.
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Adeniyi shared feedback from developers: many report significantly improved development efficiency on Move, finding it easier to write secure and expressive code. He believes Move will become the mainstream language for smart contract development and expects its market share to grow substantially in the near term.
Is It Difficult to Attract Developers to Build on SUI?
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Adeniyi stated that SUI does not aim to simply replicate other blockchains’ success models but focuses instead on enhancing the developer experience. The team believes that providing an excellent developer experience is what sets them apart competitively.
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He emphasized that from day one, the team prioritized developer feedback and needs. They recognized that many developers face challenges in other ecosystems (e.g., Ethereum), so Move is seen as a breath of fresh air. After trying other platforms, many praise Move’s usability and security, helping them onboard faster and build applications more efficiently.
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Over time, more developers are joining the SUI ecosystem and spreading the word, attracting even more participants. Adeniyi believes existing developers are SUI’s best ambassadors, actively introducing Move’s advantages to peers in other ecosystems, further accelerating SUI’s growth.
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Additionally, he noted that ecosystem growth itself is a major draw. As more projects launch on SUI, developers see greater opportunities and potential, motivating them to invest time and effort into building on the platform. This organic growth trend makes the SUI developer community increasingly vibrant.
What Drives SUI Community Growth?
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When discussing drivers of SUI’s community growth, Adeniyi highlighted that beyond developer interest and community expansion, several other factors play critical roles in this momentum. He cited key examples and features contributing significantly to SUI’s success.
Exceptional Transaction Experience
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Adeniyi cited Blue Fin as an example — initially deployed on Arbitrum, but after testing SUI, traders found their profitability on SUI was 20x higher than on Arbitrum. This stems from SUI’s lower gas fees, faster finality, and better arbitrage opportunities. Such dramatic performance improvements attract more developers and users to SUI.
Innovative Technical Features:
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SUI introduced ZK login mechanisms, allowing users to easily create on-chain accounts using Web2 credentials without traditional wallet setups. Additionally, sponsored transactions let dApps pay gas fees in the background, delivering a Web2-like user experience while retaining Web3 benefits.
Low Latency and High Performance:
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Adeniyi emphasized that SUI is among the lowest-latency blockchains available, with actual transaction finality far exceeding other chains. This speed is especially crucial for trading — final confirmation returns almost instantly after clicking submit, greatly improving UX.
Programmable Transaction Blocks
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SUI’s unique programmable transaction blocks allow users to execute up to 1,024 interdependent transactions within a single transaction. This unprecedented capability opens vast arbitrage possibilities and enhances platform appeal.
Potential in Gaming:
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Adeniyi also noted that while Web3 gaming currently faces challenges, he believes future games will be more engaging and enhanced by Web3 tech. They plan to launch the SUI Play XRX 1 gaming console embedded with SUI accounts, allowing users to log in with regular email and password and earn rewards and assets through gameplay.
Product-Market Fit:
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As more developers build applications on SUI, product-market fit strengthens, and trading volumes on DEXs and other apps are growing rapidly. All signs point toward SUI forming a healthy, self-sustaining ecosystem.
Future Plans for SUI Wallet
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When asked about future plans for the SUI wallet, Adeniyi Abiodun highlighted several key points outlining the wallet’s direction and upcoming features.
Integration with Other Wallets:
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Adeniyi mentioned that SUI’s ecosystem will integrate wallets from other ecosystems, though he did not disclose specifics. This means users will have more options and can access the SUI ecosystem using different wallets.
Ongoing Wallet Feature Enhancements
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Since its launch, the SUI wallet team has continuously added new features. Adeniyi emphasized that while current functionality is relatively limited, they are actively improving UX and plan to roll out more built-in features before year-end.
Simplifying Fund Onboarding/Offboarding
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The SUI wallet will focus on simplifying fund deposits and withdrawals, including direct cash-in/cash-out capabilities from within the wallet. Support for payment methods like debit cards will make fund conversions more convenient.
Transaction Transparency
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Adeniyi also mentioned efforts to provide more transaction details such as price history and transaction records. These simple additions will help users better understand their activity and improve overall experience.
Importance of User Feedback
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The team highly values community feedback and said they will continue refining wallet features based on user input, aiming to boost satisfaction and usability.
Upcoming User Activity
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With integration of additional wallets, Adeniyi expects a significant increase in user activity across the SUI ecosystem, further driving SUI’s growth.
Interesting Projects Being Built on SUI
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Adeniyi highlighted several exciting projects currently under development in the SUI ecosystem, showcasing the platform’s diversity and innovation.
Aggregator Platforms
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Adeniyi emphasized that multiple aggregators exist on SUI, helping users find optimal trade routes. For example, Hop, Aftermath, and Situs scan all liquidity pools and trading venues across the chain to deliver best execution. Users can achieve efficient trades with a single click — something unattainable on other chains.
Debook
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This is a decentralized central limit order book (CLOB), a project Adeniyi is very excited about. Debook provides liquidity infrastructure for DeFi products on SUI, already integrated by all major DeFi apps. Compared to automated market makers (AMMs), CLOBs offer superior efficiency for trading high-liquidity assets, reducing slippage. Debook positions SUI strongly in high-frequency trading and liquidity management.
Global Trading Engine
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Adeniyi believes Debook has the potential to become a global trading engine supporting cross-chain products. For instance, a user could initiate a trade on Solana but settle it on Debook, ensuring optimal execution and lower fees.
Liquidity Provider (LP) Rewards
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Some projects are developing mechanisms allowing users to directly provide liquidity on the central order book and earn rewards — traditionally a role reserved for market makers. Adeniyi believes market making will become increasingly decentralized in the future.
SUI Blazer X1
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This gaming device, now in pre-sale, has been warmly received by the SUI community. Adeniyi noted that around 20% of buyers come from the SUI community, and 25% from the Solana community, demonstrating SUI’s influence and appeal in gaming.
SUI’s Gaming Device
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In this section, Adeniyi Abiodun detailed SUI’s new gaming device and its potential within the Web3 ecosystem.
Design Philosophy
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Adeniyi emphasized that the SUI gaming device wasn’t designed merely for short-term incentives or airdrops. He believes users should buy it for its inherent value and functionality, not just economic gain. He compared it to premium consumer devices like the iPhone — people don’t replace them easily because they value utility and experience.
Multifunctionality
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The device supports games from platforms like Steam and Epic, letting users enjoy gaming anytime, anywhere — even while traveling. It enables in-game purchases via Web3, avoiding the high fees of traditional app stores, offering greater convenience to players.
User-Friendly Design
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Adeniyi said the device’s operating system is designed to simplify UX, eliminating the need for users to choose between platforms. It supports transactions, crypto purchases, and comes with built-in wallet functionality for seamless operations.
Market Potential
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There are already approximately 3,300 pre-orders. Adeniyi revealed that SUI is focusing on early adopters, with broader market rollout planned for next year. He anticipates the market will expand further as other manufacturers begin producing similar SUI Play devices.
Future Outlook
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Adeniyi believes the SUI Play device could become the dominant wallet in Web3, offering ordinary users a seamless gaming and crypto experience. He mentioned the OS is complete and undergoing testing, with an official launch expected early next year.
Differences Between SUI and Aptos
Team Background
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Adeniyi emphasized that SUI’s team made significant contributions to the Libra project, with core members having extensive experience across multiple Meta initiatives, including cryptography and consensus mechanisms. Compared to Aptos, SUI’s team background gives it a distinct edge in technological innovation and product development.
Technical Architecture
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Multi-machine System: SUI is a multi-machine system capable of horizontal scaling — adding more machines improves processing speed. In contrast, Aptos and other blockchains may suffer performance degradation when scaling up.
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Parallelized Transactions: SUI allows parallel transaction processing by adding worker nodes, significantly boosting efficiency.
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Object-Driven Model: SUI uses an object-driven programming model, which feels more natural to developers — especially those familiar with object-oriented programming. This differs from Aptos’ account-centric model, which may feel less intuitive to developers.
Ecosystem Development
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Adeniyi pointed out that despite SUI’s shorter launch timeline, it outperforms Aptos across key metrics such as developer adoption, total value locked (TVL), transaction volume, and wallet growth. This indicates SUI’s notable success in building community and attracting developers.
Community Building
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SUI did not rely on airdrops to bootstrap its ecosystem. Instead, it focused on building long-term relationships with ecosystem partners. Adeniyi believes airdrop-dependent ecosystems often attract short-term users who leave after claiming rewards. Therefore, SUI places greater emphasis on cultivating users genuinely invested in the ecosystem’s long-term health.
Vision and Goals
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Adeniyi expressed SUI’s vision: not just to win in Web3 markets, but to become a decentralized alternative for internet interactions. He believes SUI holds unique potential in building a platform accessible and valuable to all developers.
Security
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He noted that as more chains adopt the Move programming language, the entire ecosystem becomes more secure. Move is designed to enhance smart contract safety — a critical factor for broad Web3 adoption.
SUI’s Partnership Strategy
Partnership Approach
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Adeniyi mentioned that SUI has established partnerships with several enterprises but avoids over-relying on PR announcements. They prioritize meaningful collaborations that highlight SUI’s unique advantages over other blockchains. He believes simple press releases do not reflect true partnership value.
Developer-First Focus
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Adeniyi emphasized that SUI’s priority is attracting developers who can build differentiated experiences. He believes outstanding developers create compelling applications — a more impactful driver than corporate partnerships alone. He noted that many Web2 and Web3 developers have brilliant ideas but cannot realize them on traditional platforms, so SUI aims to collaborate with these innovators.
Upcoming Tools
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Adeniyi mentioned SUI will launch a tool called "bug bar." This AI-powered tool helps developers detect code vulnerabilities, reducing post-deployment security risks like hacks and fund losses. He stated the tool will be open to the entire ecosystem — usable by developers on SUI, Aptos, or Solana. This reflects SUI’s commitment to strengthening the overall health of the Web3 ecosystem.
View on Corporate Partnerships
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While Adeniyi acknowledges the importance of enterprise partnerships, he believes real momentum comes from developers and the applications they build. He is confident that by attracting top-tier developers, SUI can establish a stronger competitive position in the market.
Ecosystem Health
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Adeniyi stressed that the overall health of the Web3 ecosystem is vital for all participants. He noted that any major security incident (e.g., large-scale hacks) negatively impacts the entire space. Thus, he hopes SUI’s tools and collaborations can improve security and reliability across the board.
Technical Upgrades and Their Importance
Adeniyi Abiodun discussed the significance of SUI’s recently launched consensus mechanism, Mr. SETI, and how it differs from those of other blockchains like Solana.
Significance of Mr. SETI
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Adeniyi noted that SUI launched its mainnet using Bullshark — at the time, the lowest-latency and most scalable consensus mechanism available. However, the team believed further improvements were possible, leading to the development of Mr. SETI, a DAG-based consensus mechanism. The goal of this new protocol is to make transaction finality faster than website loading times, achieving even lower latency and higher throughput.
Low Latency and High Throughput
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With Mr. SETI, SUI can process 100,000 transactions per second with finality in under one second. This contrasts sharply with other blockchains, where high throughput often leads to significant latency spikes. Adeniyi emphasized that SUI’s design keeps confirmation times under one second regardless of transaction volume, laying the foundation for mass adoption.
Expanded Use Cases
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Low-latency consensus enables previously impractical on-chain applications like gaming and high-frequency trading. Adeniyi believes rapid transaction finality allows every action and trade to be recorded instantly, dramatically increasing arbitrage opportunities. This efficient processing will spur more application development and accelerate ecosystem growth.
Stable Gas Fees
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Adeniyi also noted that SUI’s gas fees remain relatively stable and pegged consistently to the US dollar. With technical upgrades, validators will adjust gas fees based on infrastructure costs and reasonable profit margins. This mechanism ensures fees remain predictable even during traffic surges, offering stability for enterprise users.
Appeal to Enterprise Users
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Predictable costs are essential for enterprise users. Adeniyi stressed that businesses shouldn’t pay higher transaction costs simply for being successful. SUI’s stable fee structure means costs stay consistent whether processing one or thousands of transactions, supporting sustainable business models.
Walrus Upgrade
Adeniyi Abiodun introduced a major SUI upgrade — Walrus — explaining its functions, significance, and differences from existing storage solutions.
What is Walrus?
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Walrus is a decentralized storage platform — not just basic storage, but programmable storage. This enables functionalities previously impossible on the internet. Adeniyi mentioned that the SUI team enjoys naming products after marine mammals, continuing the theme with Walrus.
Storage Cost Advantage
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Adeniyi pointed out that Walrus offers vastly cheaper storage compared to other blockchains like Solana and Ethereum. For example, storing data on SUI is 100x cheaper than on Solana and 2,000x cheaper than on Ethereum. Despite this, storing large datasets remains costly — Walrus aims to provide a more cost-effective solution.
New Mechanism: Red Shift
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Walrus introduces a novel mechanism called Red Shift, requiring data to be replicated across only five nodes for full redundancy. This means users can still access and write data even if 1/3 to 2/3 of nodes fail — a feature unique to this protocol.
Programmable Storage
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Walrus offers fully programmable storage, enabling decentralized storage of petabyte-scale data. For example, Adeniyi mentioned the Internet Archive could use Walrus to store its entire collection, managing storage fees via smart contracts for continuous funding.
Decentralized Website Hosting
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Walrus can host entire websites, not just data. Adeniyi noted that Decrypt will run its site on Walrus, meaning content publication, storage usage, and edit history will all be verifiable and tamper-proof. This lays a new foundation for future information dissemination and media operations.
Censorship Resistance
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Walrus is seen as critical infrastructure for future information distribution, resistant to censorship. Adeniyi believes this storage solution will enable decentralized social media platforms and ensure vital data (e.g., Library of Congress archives) can be securely stored and accessed.
Integration with SUI
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Walrus will integrate with SUI’s compute layer to form a complete decentralized stack. Additionally, Adeniyi mentioned SUI will develop a network layer to further empower decentralized applications.
Enhanced Security
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Because SUI’s DNS system is tightly integrated with Walrus, users accessing Walrus-hosted sites enjoy higher security, reducing risks of DNS attacks and asset theft.
SUI’s DNS System
Launch Timeline
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Adeniyi stated that Walrus is expected to launch early next year. The system is already in testing and being integrated with multiple ecosystems, including the Ethereum community.
System Functionality
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SUI’s DNS system will be closely integrated with the Walrus storage platform, offering users a more secure and decentralized web browsing experience. This integration ensures visited sites are verifiable, minimizing DNS attack risks.
Ecosystem Integration
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Adeniyi mentioned that SUI’s DNS system isn’t limited to its own ecosystem but will collaborate with other blockchain communities to enhance cross-chain interoperability and application scope.
How Can SUI Impact Politics and Economics?
Blockchain as a Business Mechanism
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Adeniyi believes blockchain will become the cheapest mechanism for conducting commercial transactions. As users and assets migrate onto blockchains, the cost of leveraging this technology for business will drop significantly. This means centralized companies must consider adopting this emerging tech to improve efficiency and market reach.
Transformation of Centralized Companies
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Adeniyi predicted that companies like Facebook and Google will eventually adopt blockchain to enhance their business models. For example, he mentioned a collaboration with Movie Pass using SUI and USDC to pay users and distribute rewards. Such shifts will allow these firms to better meet user demands and innovate using blockchain advantages.
Web3 Philosophy
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Adeniyi emphasized that Web3 applications should be built on decentralized architectures. While some enterprises may still opt for centralized solutions (e.g., trusting Google for data storage), decentralized approaches will be more attractive for governance and data accessibility.
Governance and Data Storage
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For use cases requiring governance and data sovereignty, Walrus and SUI’s decentralized storage solutions are ideal. These include scenarios demanding tamper-proof, always-accessible data — areas where decentralized platforms excel.
Future Adaptability
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Adeniyi believes governments and centralized institutions will eventually need to adapt to leverage blockchain’s new opportunities and challenges. They may realize blockchain is not just a technical tool but a foundational shift in redefining commerce and data governance.
How Many Unique Active Wallets Will SUI Have?
Current Number of Active Wallets
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Adeniyi mentioned that SUI currently has approximately 27 to 28 million active wallets.
Future Projections
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He predicts that by next year (November 8, 2025), SUI’s number of unique active wallets could exceed 120 million. He emphasized this growth is driven by the continuous expansion of the SUI ecosystem and user base.
Potential in Gaming Ecosystem
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Adeniyi believes that by 2030, the majority of gamers worldwide will be playing on the SUI platform. Last year, there were 3.3 billion gamers globally, spending around $200 billion on games. He is confident SUI will capture a major share of this market.
Advantages of ZK Login Mechanism
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Adeniyi also noted that SUI’s ZK login mechanism attracts Web2 users, giving it a significant edge in user growth over other platforms. He is highly confident in SUI’s ability to achieve these goals.
Ecosystem Demand
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He pointed out that as gaming grows, developers will need token swaps, DEX functionality, and reward systems on SUI — commercial mechanisms that will further drive SUI adoption and wallet growth.
How Many Developers Will Use Move?
Current Developer Share
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Adeniyi mentioned that according to recent reports, around 7% of monthly active developers currently use Move. He expects the next report to show this figure surpassing 10%.
Future Goals
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He set a target to attract over 25,000 active Move developers by November 2025. He believes this number is crucial for advancing Move’s development.
Market Share Ambition:
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Adeniyi emphasized that Move’s goal isn’t just to take market share from existing chains but to build a robust developer community across the entire blockchain ecosystem. He believes 25,000 active developers will bring significant growth and influence to Move.
Team Focus
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He stated the team is fully committed to achieving this goal, promoting widespread adoption of the Move language and ecosystem growth.
Total Value Locked (TVL) Across All Move Blockchains
Current TVL Figures
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Adeniyi mentioned that the current TVL across all Move-based blockchains is roughly between $1 billion and $2 billion.
Future Projections
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He predicts this figure could grow tenfold by next year (2025). That would mean TVL reaching between $10 billion and $20 billion.
Growth Potential
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Adeniyi's forecast reflects his confidence in the future of the Move ecosystem, believing that increased developers and users will drive TVL significantly higher.
Will SUI Surpass Solana?
Current TVL Comparison
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Adeniyi noted that SUI’s current TVL is around $1.1 billion. He acknowledged Solana’s TVL is also strong, so direct comparisons over short periods aren't entirely fair.
Growth Potential
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He emphasized that in terms of growth trajectory, SUI leads Solana in both speed and cycle. He remains optimistic about SUI’s future, believing that with continued delivery and sustained momentum, SUI has the potential to become the leading blockchain.
Key to Success
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Adeniyi believes the key to success lies in building compelling applications that solve real user problems. He highlighted that attracting top developers to build successful projects on SUI will be crucial to its advancement.
Long-Term Vision
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He stated SUI’s goal is to win developers’ minds — ensuring they can build successfully and profitably on SUI, ultimately delivering products and services to a broader user base.
Upcoming Major Updates
Mr. SETI Upgrade
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Adeniyi mentioned that SUI recently rolled out Mr. SETI, an upgrade to its consensus protocol. This rollout occurs in two phases:
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Phase One was completed mid-year.
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Phase Two is expected early next year, bringing more substantial performance improvements.
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Performance Improvements
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Phase Two will merge the “fast path” with Mr. SETI, significantly reducing transaction latency. He noted that SUI currently achieves around 297,000 transactions per second in single-commit benchmarks on mainnet, with expectations for further gains.
Future Outlook
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Adeniyi said SUI is optimizing its core for speed and plans to scale by adding more machines. He looks forward to seeing powerful consumer applications go live next year.
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