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Ways to Make Money on SUI Wallet

  • Stake to receive 3% APY (this is for those who want to take minimum risk)
  • Use the Scallop app to borrow USDT and go long, or borrow an asset to short it. This is a tedious process that requires depositing collateral (I use SUI), borrowing the asset you want to trade, make a trade on CETUS, and then repay back the loan plus interest. Ideally you’d want to keep this trade as short as possible to reduce your interest while also capitalizing on any up/down moves. Be careful with this approach if the trade swings too far in the opposite direction there is risk of margin call/liquidation.
  • You can also lend your crypto on Scallop or NAVI to receive higher yields. This is a lower risk approach, but make sure there is enough liquidity so that you can withdraw your funds after.
  • NAVI and Alphafi provide high yield pools. I personally don’t trust them so I’m staying away from them. But for those who like this option I would make sure there’s enough liquidity to withdraw your funds.
  • Trade memecoins or SUI ecosystem cryptos such as CETUS. I think there’s money to be made taking risks with SUI related cryptos. The goal is to look at the asset in relation to SUI and swing trade (i.e buy/sell PLOP when it is rising/falling in relation to SUI). For memecoins I will only post alerts for memes that have enough liquidity. Some of them have too low volume so you guys would be pumping or dumping them with each alert, leaving some of you guys to get wrecked. For now I think memecoins are early and have growth potential. They can be viewed as a shorter term investment that can grow. For those of you who want to trade I recommend looking at the chart on CoinMarketCap (i.e typing in PLOP to find PLOP/SUI). The goal is to go long when PLOP is rising relative to SUI and sell before PLOP is declining relative to SUI. Same process for all memes.

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