To say who is the undisputed top DEX on Sui, now it's basically Momentum @ MMTFinance. The cumulative transaction volume has reached nearly 1.2 billion US dollars, approximately 11.65B~11.9B, which is quite explosive for a relatively young public chain. Its path is clear: centralized liquidity, automated LP management, combined with the ve (3,3) model and 80% cheaper transaction fees than peers. With these points, Momentum quickly became the liquidity engine on Sui. With over 1.3 million users and investments from Coinbase and OKX, the valuation reached $100 million. Just these endorsements make it particularly eye-catching in Sui's DeFi. Looking at the situation of the entire SUI public chain: Sui's TVL is currently around 174 million US dollars, with a daily trading volume of approximately 600 million US dollars. Momentum is an absolute mainstay inside. The data is very hard, especially its Vaults strategy, which allows LPs to passively take profits. For example, the APR of the SUI-USDC pool once soared to 127%, so there is no need to constantly monitor and adjust positions. Compared to several other Sui DEX, the gap becomes even clearer: Momentum: TVL is over 170 million, with a 30 day trading volume of approximately 290 million and a total trading volume approaching 1.2 billion. Both transaction fees and revenue are steadily increasing. Cetus: It can be considered an old brand, with a cumulative trading volume of 64 billion US dollars early on, but TVL is only about 90 million, which is half that of Momentum. The 30 day trading volume is 4.3-4.4 billion US dollars, which is indeed a large volume, but the handling fees and revenue on an annualized basis are similar to Momentum. Of course, Cetus still has early accumulated advantages. FlowX: With a smaller scale, TVL of 20 to 300 million, 30 day transaction volume of less than 100 million, and accumulated transaction fees of only 420000 SUI (approximately 1.44 million US dollars), its presence is not as strong. FlowX is more suitable for playing in some niche pools. Today, I added the spot SUI I I I bought a while ago to the LP xSUI-SUI on Momentum. The current APR is 8%, although not particularly high, it is already very good compared to the returns on the exchange. Moreover, staking on MMT can also earn some TGE airdrop profits in the future (maybe there's still time).