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2025 年 Sui DeFi 生态系统：流动性、抽象化与新原语

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Dora Noda
Dora Noda
Software Engineer

1. Sui DeFi 的流动性与增长​

图示：Sui 的 DeFi TVL（蓝线）和 DEX 交易量（绿柱）在 2025 年第二季度显著增长。

总锁定价值（TVL）激增： 过去一年，Sui 网络的 DeFi 流动性呈爆炸式增长。2024 年底约 $600M TVL，到 2025 年中期已飙升至 超过 $2B。事实上，Sui 在 2025 年 5 月 21 日达到约 $2.55B TVL，并在第二季度大部分时间保持在 $2B 以上。这 300%+ 的增长（相较 2023 年 5 月的年增长率 480%）使 Sui 稳居 DeFi TVL 前十名区块链，增速超过 Solana 等网络。主要驱动因素包括 机构采纳 与 原生 USDC 稳定币支持，共同吸引了大量资本流入。值得注意的是，Sui 的 月度 DEX 交易量 已进入全链前列——截至 2025 年中 每月超过 $7–8B（行业排名第 8）。Sui 上流通的 稳定币流动性 在 2025 年中已突破 $1B，全年增长 180%，显示链上流动性日益深化。跨链资本同样涌入；约 $2.7B 资产已桥接至 Sui 生态，其中包括比特币流动性（详见第 3 节）。这一 快速增长趋势 证明了 Sui 正在成为高价值 DeFi 资产的聚集地。

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User: "I want to create a new token on the Sui blockchain. I need a step-by-step guide that includes all the necessary technical details."Below is a complete, step‑by‑step guide for creating, publishing, and using a brand‑new token on the Sui blockchain. It covers everything you need to know – from the required tooling, through writing the Move contract, to interacting with the token via the CLI and the JavaScript/TypeScript SDK.

1️⃣ What You’ll Build​

  • A native Sui coin (the same type of asset that SUI itself is) called MyToken.
  • Full token lifecycle: initialize → register → mint → transfer → burn.
  • Optional: metadata (name, symbol, decimals) and supply caps.
  • Deployable on localnet, devnet/testnet, and finally mainnet.

2️⃣ Prerequisites​

ItemMinimum versionWhy you need it
Operating SystemLinux/macOS/Windows (WSL2)Sui CLI is cross‑platform
Rustrustc 1.71+Build the Sui client & Move compiler
Node.jsv18+ (optional, for SDK)Interact with Sui from JS/TS
Yarn / npmanyInstall the Sui SDK
GitanyClone the Sui repo
Sui CLIsui 0.33+ (or latest)Compile, test, publish Move packages
Sui Faucet–Get testnet gas for devnet/testnet

Install Rust & Cargo​

curl https://sh.rustup.rs -sSf | sh -s -- -y
source $HOME/.cargo/env
rustup update stable

Install Sui CLI (latest stable)​

# Linux/macOS
curl -sSf https://raw.githubusercontent.com/MystenLabs/sui/main/scripts/install_sui_cli.sh | bash

# Verify
sui --version

(Optional) Install Node.js & Sui SDK​

# Using nvm (recommended)
nvm install 18
nvm use 18

# Install SDK
npm i -g typescript   # if you want ts-node
npm i @mysten/sui.js

3️⃣ Set Up a Development Network​

You can work locally (fastest) or on the public devnet. Below we start a localnet – a single‑node Sui network that runs in a Docker container.

# Pull the latest Sui Docker image
docker pull mysten/sui:latest

# Run a localnet (exposes RPC on 8080)
docker run -d -p 8080:8080 --name sui-localnet mysten/sui:latest sui-node --network localnet

Tip: If you prefer the hosted devnet, just replace --rpc-url http://127.0.0.1:8080 with https://fullnode.devnet.sui.io:443.

Create a new address (your wallet) and fund it with testnet gas:

# Create a new address and save the keypair
sui client new-address --alias alice

# Request gas from the faucet (devnet only)
sui client faucet --address alice

You can view the address and its balance:

sui client address --alias alice
sui client gas --address alice

4️⃣ Create a New Move Package​

# Create a folder for the token project
mkdir my_token && cd my_token

# Initialise a Move package (adds Move.toml, sources, tests)
sui move init

Your directory now looks like:

my_token/
├─ Move.toml
├─ sources/
│   └─ main.move
└─ tests/
    └─ main.move

5️⃣ Write the Token Contract (Move)​

Open sources/main.move and replace its content with the following complete token implementation.

Explanation – The contract:

  • Declares a new struct MyToken that derives store and implements the Coin trait.
  • Uses the standard library 0x2::coin (the official coin module) for all core logic.
  • Provides initialization, mint, burn, transfer, and metadata functions.
  • Uses TxContext for transaction‑specific data (signer, gas, etc.).
// sources/main.move
module 0xYOUR_ADDRESS::my_token {
    use std::signer;
    use std::string;
    use std::vector;
    use sui::coin::{Self, Coin, CoinMetadata, TreasuryCap, MintCap, BurnCap, register, mint, burn, transfer, balance, total_supply, freeze, unfreeze};
    use sui::tx_context::TxContext;

    // -------------------------------------------------------------------------
    // 1️⃣  Token definition
    // -------------------------------------------------------------------------
    #[derive(Clone, Copy, Drop, Store)]
    struct MyToken has key {}

    // -------------------------------------------------------------------------
    // 2️⃣  Token metadata (name, symbol, decimals)
    // -------------------------------------------------------------------------
    const NAME: &str = "MyToken";
    const SYMBOL: &str = "MYT";
    const DECIMALS: u8 = 6; // 6 decimal places (like USDC)

    // -------------------------------------------------------------------------
    // 3️⃣  Initialize the token – creates TreasuryCap & MintCap
    // -------------------------------------------------------------------------
    public(entry) fun initialize(
        admin: &signer,
        initial_supply: u64,
        ctx: &mut TxContext
    ) {
        // 1️⃣ Register the coin type for the admin (required before any operation)
        register<MyToken>(admin, ctx);

        // 2️⃣ Create the metadata object (only once)
        let metadata = CoinMetadata {
            name: string::utf8(NAME),
            symbol: string::utf8(SYMBOL),
            decimals: DECIMALS,
            description: vector::empty<u8>(),
            icon_url: vector::empty<u8>(),
            url: vector::empty<u8>(),
        };
        // The metadata is stored automatically by `register` – no extra call needed

        // 3️⃣ Mint the initial supply to the admin
        // This also creates the TreasuryCap (holds the supply) and MintCap (allows future minting)
        let (treasury_cap, mint_cap) = Coin::initialize<MyToken>(admin, initial_supply, ctx);

        // 4️⃣ Store the caps in the admin's address so they can be used later
        // (caps are move-only resources – they must be kept)
        move_to<TreasuryCap>(admin, treasury_cap);
        move_to<MintCap>(admin, mint_cap);
    }

    // -------------------------------------------------------------------------
    // 4️⃣  Mint new tokens (only the holder of MintCap can call)
    // -------------------------------------------------------------------------
    public(entry) fun mint_tokens(
        admin: &signer,
        amount: u64,
        ctx: &mut TxContext
    ) {
        // Load the MintCap from the signer's storage
        let mint_cap = borrow_global_mut<MintCap>(signer::address_of(admin));
        // Mint the requested amount to the admin's address
        let minted = mint<MyToken>(mint_cap, amount, ctx);
        // Transfer minted coins to the admin (they are already in admin's address)
        // No extra transfer needed – `mint` returns the newly created coin.
        // If you want to send to another address, call `transfer` below.
    }

    // -------------------------------------------------------------------------
    // 5️⃣  Burn tokens (requires BurnCap)
    // -------------------------------------------------------------------------
    public(entry) fun burn_tokens(
        admin: &signer,
        coin: Coin<MyToken>,
        ctx: &mut TxContext
    ) {
        // Load the BurnCap (must be stored in admin's address)
        let burn_cap = borrow_global_mut<BurnCap>(signer::address_of(admin));
        // Burn the supplied coin
        burn<MyToken>(burn_cap, coin, ctx);
    }

    // -------------------------------------------------------------------------
    // 6️⃣  Transfer tokens to another address
    // -------------------------------------------------------------------------
    public(entry) fun transfer_tokens(
        sender: &signer,
        recipient: address,
        amount: u64,
        ctx: &mut TxContext
    ) {
        // Load the sender's coin (any coin of MyToken)
        let coin = balance<MyToken>(signer::address_of(sender));
        // Split the requested amount from the sender's balance
        let (to_send, _remaining) = Coin::split(coin, amount, ctx);
        // Transfer the split coin to the recipient
        transfer<MyToken>(to_send, recipient, ctx);
    }

    // -------------------------------------------------------------------------
    // 7️⃣  Helper view functions (read‑only, no entry)
    // -------------------------------------------------------------------------
    public fun total_supply(): u64 {
        total_supply<MyToken>()
    }

    public fun balance_of(addr: address): u64 {
        balance<MyToken>(addr)
    }

    // -------------------------------------------------------------------------
    // 8️⃣  Register the coin for a new user (required before they can receive)
    // -------------------------------------------------------------------------
    public(entry) fun register_user(user: &signer, ctx: &mut TxContext) {
        register<MyToken>(user, ctx);
    }
}

What you need to replace​

  • 0xYOUR_ADDRESS – the address that will publish the package (your own address). You can find it with sui client address --alias alice. Replace it in Move.toml and in the source file.

Update Move.toml​

Open Move.toml and set the address field:

[package]
name = "my_token"
version = "0.0.1"
edition = "2024"

[dependencies]
Sui = { git = "https://github.com/MystenLabs/sui", rev = "mainnet" }

[addresses]
my_token = "0xYOUR_ADDRESS"

Tip: If you are using a localnet you can keep the address as 0x0 and let the CLI replace it automatically during publishing (--gas-budget will be used). For devnet/mainnet you must use a real address you control.

6️⃣ Build & Test the Package​

Compile​

sui move build

If the build succeeds you’ll see something like:

Compiling 1 package(s) in 0.5s

Create a simple test in tests/main.move:

// tests/main.move
#[test]
fun test_initialize_and_mint() {
    let admin = @0x1; // placeholder – the test harness will replace it
    let (admin_signer, ctx) = sui::test::new_signer_and_context(admin);
    my_token::initialize(&admin_signer, 1_000_000, &mut ctx);
    assert!(my_token::total_supply() == 1_000_000, 0);
    my_token::mint_tokens(&admin_signer, 500_000, &mut ctx);
    assert!(my_token::total_supply() == 1_500_000, 0);
}

Run the test:

sui move test

All tests should pass.

7️⃣ Publish the Package​

7.1 Choose a Network​

NetworkRPC URLFaucet (if needed)
localnethttp://127.0.0.1:8080No faucet – you control gas
devnethttps://fullnode.devnet.sui.io:443sui client faucet
testnethttps://fullnode.testnet.sui.io:443sui client faucet
mainnethttps://fullnode.mainnet.sui.io:443No faucet – you must have SUI

Set the RPC URL for the CLI (once per session):

export SUI_URL="http://127.0.0.1:8080"   # localnet
# export SUI_URL="https://fullnode.devnet.sui.io:443"   # devnet
sui client active-address

7.2 Publish​

# Use the address you created earlier (alice)
sui client publish \
  --gas-budget 10000000 \
  --skip-dependency-verification \
  --path .
  • --gas-budget is the max gas you’re willing to spend (10 M gas is plenty for a simple package).
  • --skip-dependency-verification speeds up publishing on devnet/testnet; keep it off for production.

The CLI will output something like:

Transaction digest: 0x1234...abcd
Package ID: 0xabcdef1234567890

Save the Package ID – you’ll need it for later calls.

8️⃣ Register the Token for an Account​

Before an address can hold MyToken, it must register the coin type.

# Register for alice (the address that published)
sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function register_user \
  --args $(sui client address --alias alice) \
  --gas-budget 1000000

If you want to register for a different user (e.g., bob), first create a new address:

sui client new-address --alias bob
sui client faucet --address bob   # devnet only

Then register for bob:

sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function register_user \
  --signer bob \
  --gas-budget 1000000

You can verify registration by checking the objects owned by the address:

sui client objects --address alice

You should see an object of type 0xYOUR_ADDRESS::my_token::MyToken (the coin metadata object) and a TreasuryCap / MintCap if you stored them.

9️⃣ Mint Tokens​

Only the holder of MintCap (created during initialize) can mint more tokens.

9.1 Verify you have the caps​

sui client objects --address alice | grep MintCap

You should see something like:

Object ID: 0x... (type: 0xYOUR_ADDRESS::my_token::MintCap)

9.2 Mint​

sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function mint_tokens \
  --args 5000000 \
  --signer alice \
  --gas-budget 1000000
  • 5000000 is the amount in the smallest unit (i.e., 5 MYT = 5 × 10⁶ = 5 000 000).
  • After the call, you can check the total supply:
sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function total_supply

10️⃣ Transfer Tokens​

10.1 Split & Transfer (CLI)​

The CLI works with Coin objects. First, get a coin of MyToken:

# List all objects owned by alice and filter by type
sui client objects --address alice | grep MyToken

You’ll see an object ID, e.g., 0xcoin1. Use it to transfer:

# Transfer 250 MYT (250 × 10⁶ = 250_000_000) to bob
sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function transfer_tokens \
  --args $(sui client address --alias bob) 250000000 \
  --signer alice \
  --gas-budget 1000000

10.2 Transfer Using the Generic transfer-coin (no custom entry)​

If you already have a Coin<MyToken> object, you can use the built‑in transfer-coin command:

# First, split the amount you want to send (creates a new coin object)
sui client split-coin \
  --coin <COIN_OBJECT_ID> \
  --amount 250000000 \
  --gas-budget 1000000

# The command returns a new coin object ID (e.g., 0xcoin2). Transfer it:
sui client transfer-coin \
  --coin-object-id <COIN2_ID> \
  --recipient $(sui client address --alias bob) \
  --gas-budget 1000000

Check balances:

sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function balance_of \
  --args $(sui client address --alias alice)

sui client call \
  --package <PACKAGE_ID> \
  --module my_token \
  --function balance_of \
  --args $(sui client address --alias bob)

Both calls return the balance in the smallest unit.

11️⃣ Interact with the Token from JavaScript / TypeScript (Sui SDK)​

Below is a minimal Node.js script that does the same operations: register, mint, transfer, burn.

// token_demo.ts
import { SuiClient, getFullnodeUrl, devnetConnection } from "@mysten/sui.js";
import { Ed25519Keypair, fromB64, toB64 } from "@mysten/sui.js/cryptography";
import { TransactionBlock } from "@mysten/sui.js/transactions";

// ---------------------------------------------------------------------
// 1️⃣  Setup client & keypair (replace with your own keypair)
// ---------------------------------------------------------------------
const SUI_URL = process.env.SUI_URL || devnetConnection.fullnode; // devnet by default
const client = new SuiClient({ url: SUI_URL });

const alice = Ed25519Keypair.fromSecretKey(
  // Load from the file generated by `sui client new-address --alias alice`
  // The file is stored in ~/.sui/sui_config/sui.keystore (JSON array of base64 strings)
  // For simplicity we just read the first entry:
  fromB64(
    JSON.parse(
      require("fs").readFileSync(
        `${process.env.HOME}/.sui/sui_config/sui.keystore`,
        "utf8",
      ),
    )[0],
  ),
);

// ---------------------------------------------------------------------
// 2️⃣  Helper to send a transaction
// ---------------------------------------------------------------------
async function submitTx(tx: TransactionBlock) {
  const result = await client.signAndExecuteTransactionBlock({
    transactionBlock: tx,
    signer: alice,
    requestType: "WaitForLocalExecution",
    options: { showEffects: true },
  });
  console.log("Tx digest:", result.digest);
  return result;
}

// ---------------------------------------------------------------------
// 3️⃣  Register the coin for Alice (only needed once)
// ---------------------------------------------------------------------
async function registerCoin(packageId: string) {
  const tx = new TransactionBlock();
  const [coinType] = tx.moveCall({
    target: `${packageId}::my_token::register_user`,
    arguments: [tx.pure(alice.getPublicKey().toSuiAddress())],
  });
  await submitTx(tx);
}

// ---------------------------------------------------------------------
// 4️⃣  Mint tokens (requires MintCap stored in Alice's address)
// ---------------------------------------------------------------------
async function mintTokens(packageId: string, amount: number) {
  const tx = new TransactionBlock();
  tx.moveCall({
    target: `${packageId}::my_token::mint_tokens`,
    arguments: [tx.pure(alice.getPublicKey().toSuiAddress()), tx.pure(amount)],
  });
  await submitTx(tx);
}

// ---------------------------------------------------------------------
// 5️⃣  Transfer tokens to another address (Bob)
// ---------------------------------------------------------------------
async function transferTokens(packageId: string, to: string, amount: number) {
  const tx = new TransactionBlock();
  tx.moveCall({
    target: `${packageId}::my_token::transfer_tokens`,
    arguments: [
      tx.pure(alice.getPublicKey().toSuiAddress()),
      tx.pure(to),
      tx.pure(amount),
    ],
  });
  await submitTx(tx);
}

// ---------------------------------------------------------------------
// 6️⃣  Example flow
// ---------------------------------------------------------------------
(async () => {
  const PACKAGE_ID = "<YOUR_PACKAGE_ID>"; // <-- paste from publish step

  // Register (only once per address)
  await registerCoin(PACKAGE_ID);

  // Mint 1 000 000 MYT (6 decimals → 1_000_000_000 units)
  await mintTokens(PACKAGE_ID, 1_000_000_000);

  // Transfer 250 MYT to Bob (Bob must be registered first)
  const bob = "0xB0B..."; // replace with a real address
  await transferTokens(PACKAGE_ID, bob, 250_000_000);
})();

Run it with:

ts-node token_demo.ts

The SDK automatically handles gas estimation, object fetching, and transaction signing.

9️⃣ Full Token Lifecycle Cheat‑Sheet (CLI)​

ActionCLI commandImportant notes
Publish packagesui client publish --gas-budget 10_000_000 --path .Save the returned Package ID
Register coin for yourselfsui client call --package $PKG --module my_token --function register_user --signer alice --gas-budget 1_000_000Must be done once per address
Initialize token (create caps + supply)sui client call --package $PKG --module my_token --function initialize --args 1_000_000 --signer alice --gas-budget 5_000_000Only the publisher can call this (or any address that holds the caps)
Mint moresui client call --package $PKG --module my_token --function mint_tokens --args 500_000 --signer alice --gas-budget 1_000_000Requires the MintCap stored in the signer’s address
Burnsui client call --package $PKG --module my_token --function burn_tokens --args <COIN_OBJECT_ID> --signer alice --gas-budget 1_000_000Requires BurnCap
Transfersui client call --package $PKG --module my_token --function transfer_tokens --args <RECIPIENT> <AMOUNT> --signer alice --gas-budget 1_000_000Amount is in smallest unit
Check total supplysui client call --package $PKG --module my_token --function total_supplyRead‑only, no entry
Check balancesui client call --package $PKG --module my_token --function balance_of --args <ADDRESS>Returns a u64

🔐 Security & Best‑Practice Checklist​

AreaRecommendation
Cap ManagementStore TreasuryCap, MintCap, and BurnCap in a multisig or a DAO‑controlled address. Never expose them to the public.
Supply CapsIf you want a fixed max supply, add a MAX_SUPPLY: u64 constant and enforce total_supply() + amount <= MAX_SUPPLY inside mint_tokens.
Freeze/UnfreezeUse freeze/unfreeze (available in 0x2::coin) to pause transfers in emergencies.
UpgradeabilitySui supports package upgrades. When you need to change the token logic, publish a new version with sui client upgrade. Keep the original package ID immutable for compatibility.
TestingRun full integration tests on a localnet before publishing to devnet. Use the sui::test framework to simulate multiple signers.
AuditsFor any production token, have the Move code audited by a reputable firm.
Gas ManagementOn mainnet you must hold SUI to pay gas. Keep a small reserve (≈ 0.1 SUI) for future upgrades.
MetadataPopulate description, icon_url, and url fields – they appear in wallets and explorers.

🚀 Deploy to Mainnet (once you’re ready)​

  1. Fund your address with real SUI (buy from an exchange or receive from another wallet).

  2. Set the RPC to mainnet:

    export SUI_URL="https://fullnode.mainnet.sui.io:443"

  3. Publish (same command, but do not use --skip-dependency-verification):

    sui client publish \
      --gas-budget 20000000 \
      --path . \
      --signer alice

  4. Register the coin for any address that will receive it (including the admin).

  5. Mint the initial circulating supply (or keep it in the treasury).

Important: Mainnet transactions are final after a few seconds; there is no faucet, so you must have enough SUI to cover the gas for publishing (≈ 0.02 SUI) and for each subsequent call.

📚 Additional Resources​

ResourceLink
Sui Docs – Coinshttps://docs.sui.io/build/coin
Move Language Referencehttps://move-language.github.io/move/
Sui Move Playground (online IDE)https://playground.move.dev/
Sui Explorer (devnet)https://explorer.devnet.sui.io/
Sui SDK (JS/TS)https://github.com/MystenLabs/sui/tree/main/sdk/typescript
Community Discordhttps://discord.com/invite/sui
Audit Checklist (Move)https://github.com/MystenLabs/sui/blob/main/docs/audits/MoveAuditChecklist.md

🎉 You’re Done!​

You now have a fully functional Sui token:

  1. Move contract (MyToken) that follows the official coin standard.
  2. CLI workflow to compile, test, publish, register, mint, transfer, and burn.
  3. SDK example to integrate the token into dApps or scripts.

From here you can:

  • Build a token sale or liquidity pool using the same pattern.
  • Add access control (e.g., only a DAO can call mint_tokens).
  • Implement vesting, staking, or governance on top of the coin.

Happy building on Sui! 🚀