Momentum Emerges from Stealth Mode to Launch the World's First ve(3,3) Decentralized Exchange (DEX) on the Sui Blockchain

Inspired by the success of Aerodrome and purpose-built to turbocharge the growth of Sui, Momentum's ve(3,3) DEX will leverage the $500M total value locked (TVL) in Momentum's multi-signature liquidity layer to drive the next wave of DeFi innovation and user adoption.

The crypto landscape is abuzz with anticipation as Momentum, the leading Move Central Liquidity Engine, emerges from stealth mode to launch the world’s first ve(3,3) decentralized exchange (DEX) combined with a token launch platform on the Sui blockchain.

Known for its cutting-edge technology and deep integration within the Sui ecosystem, Momentum is set to revolutionize the DeFi experience with its unique liquidity model and extensive partnerships.

Announced today, Momentum’s DEX will leverage the $500M total value locked (TVL) in its multi-signature liquidity layer to drive the next wave of DeFi innovation and user adoption. Trading is now live on https://app.mmt.finance/, with greater volume and liquidity set to coincide with the launch of an upcoming LFG Ramp-Up Liquidity Phase and WAGMI Trading Competition. (details below).

Unlike traditional DEX models that prioritize liquidity providers or traders, the ve(3,3) tokenomics model ensures perfect alignment among all stakeholders – liquidity providers, traders, and protocols – by structuring incentives so that 100% of emissions, trading fees, and rewards flow directly to Momentum users creating a flywheel effect.

“We believe Sui is now entering a hyperbolic growth phase driven by BTCFi,” says Momentum CEO and co-founder ChefWEN (@ChefMMT_X), a founding engineer of Meta’s Libra project.

“Momentum is excited to kick off the new phase of DeFi on Sui. Traders and liquidity providers will soon gain access to the lowest fees and highest APRs, powered by the ve(3,3) liquidity model.”

The ve(3,3) system was created to align incentives so that all participants benefit:

Positioned as a cornerstone Sui ecosystem public good, Momentum’s launch of the ve(3,3) DEX will make on-chain trading more accessible to traders, retail investors, and institutions seeking deeper liquidity, less slippage and lower fees for superior user experience.

Sui’s on-chain TVL has soared to over $2.08 billion between December 1, 2023, and January 5, 2025 — reflecting an impressive 1,261% growth in just 13 months. This explosive momentum is supported by a growing ecosystem of stablecoin integrations, including Agora USD (AUSD), First Digital USD (FDUSD), and Ondo Finance (USDY). Notably, Momentum is responsible for minting 100% of the supply for these stablecoins on the Sui blockchain, positioning it as a key infrastructure player.

As DeFi on Sui accelerates, Momentum is poised to lead the next wave of adoption and liquidity expansion across the ecosystem.

To accelerate the DEX debut, the LFG Ramp-Up Liquidity Phase launches on 31 Mar with a target of $50M TVL, followed by a 12 weeks WAGMI Trading Competition. Backed by key liquidity providers from Momentum’s investor networks, as well as protocols integrated with Momentum’s multi-sig solutions, the competition will reward early adopters with veMMT based on trading volume and liquidity provisioning ahead of the Token Generation Event (TGE).

Over the past two years, Momentum has forged deep ties with Sui ecosystem partners, collaborating with the Sui Foundation, Agora Finance, AlphaFi, Bluefin, Bucket Protocol, Cetus Protocol, First Digital, Navi Protocol, Ondo Finance, Scallop, SpringSui, Suilend, Turbos Finance, Volo and more.

In a recent strategic funding round led by Varys Capital, Momentum received support from well known institutional investors bringing the total raise to $10M, among them Coinbase Ventures, Circle Ventures, Sui Foundation, Aptos Foundation, Gate Ventures, Amber Group, Selini Capital, Jump, Arcanum Capital, WAGMI Ventures, DeWhales, MonkeVentures and Mysten Labs’ cofounder Adeniyi Abiodun.

“The Sui ecosystem is at an inflection point, and we see Momentum as a key player in pushing its adoption forward,” said Darius Askaripour, Managing Partner at Varys Capital.

“Their work is building the foundation for transparent liquidity mechanisms, allowing markets to be more accessible and fluid, and we’re thrilled to support them in this journey.”

Varys Capital’s latest fund is backed by MBS Global, the family office for H.H. Sheikh Nayef Bin Eid Al Thani of Qatar’s ruling royal family, and Aquanow Ventures, Canada’s most prominent digital integration provider.

About Momentum

Momentum is the leading Move Central Liquidity Engine with solutions including Multi-Sig Treasury Management, Token Vesting, and Liquidity Provisioning. With over 35,000 active wallets, $500M in Total Value Locked (TVL), and $1.8B in Transaction Volume, Momentum is set to redefine the landscape with the launch of the first Move ve(3,3) DEX. Momentum was co-founded by ChefWEN (@