The three essential elements of a chain's economic ecosystem It is not an exaggeration to say that the blockchain so far has been a network for decentralized finance (DeFi). In fact, most of the transactions on the network are for DeFi, and the demand also comes from DeFi. Ethereum, which can be seen as the origin of DeFi, is building a strong ecosystem. The emerging powerhouse Solana is also gradually establishing its framework. New Layer 1 chains like Sui are striving to establish a basic economic structure, led by the hype of @MMTFinance. So, what are the elements that can be said to have "the necessary components for DeFi" in the network? The three essential elements of chain economics that I believe are as follows: 1. DEX (AMM) 2. Liquidity (LP) 3. Lending Protocol There must be a representative AMM DEX for the chain, and there should be abundant liquidity there. Finally, the lending and borrowing protocols, which are the most important elements of finance, must be sufficiently activated. If all three of these succeed, the chain will have enough qualifications as a network for DeFi. Among these, DEX is the most important first step. Sui is preparing to take that first step with its representative DEX, Momentum. In fact, everyone is surprised that Momentum has gathered 400M in liquidity, but... this is only ranked 98th in the overall DeFi protocol rankings. The largest DeFi of the top 10 chains by market cap among all L1s has secured liquidity that is not even comparable to Ethereum's lesser-known DeFi, despite this level of hype. Yes. Honestly, in terms of TVL/DeFi, Sui's current value is excessively overvalued. Therefore, for Sui to survive as a chain, it must revitalize DEX to attract liquidity. From Sui's perspective, it has no choice but to support Momentum. It is doing everything it can to bring in hype and is conducting aggressive sales on @buidlpad, the hottest launchpad at the moment. If Momentum continues the hype after TGE and becomes a gateway to attract even greater liquidity, the next thing we need to turn our attention to will be Sui's lending protocol.