The Sui blockchain has officially launched its native bridge, Sui Bridge, on the mainnet as of September 30, 2024. This new feature allows users to transfer crypto assets directly between the Ethereum and Sui networks seamlessly.
According to the official statement, Sui Bridge provides a direct link between Sui and Ethereum, enabling smooth asset transfers between the two chains. Unlike third-party solutions like Wormhole, transactions through Sui Bridge are secured by Sui’s own network validators, utilizing the same infrastructure that ensures the security of the Sui network.
“The launch of Sui Bridge marks a significant milestone in Sui’s interoperability journey, facilitating low-risk asset transfers between Ethereum and Sui,” stated the team at Sui.
ETH Transfer Support
Currently, Sui Bridge supports transfers of ETH and wrapped ETH (wETH) between the Sui and Ethereum networks. Notably, Sui does not charge additional fees for using Sui Bridge. Instead, it subsidizes gas fees for token claims when users move assets from Ethereum to Sui. However, transfers from Sui to Ethereum will incur fees charged by the Ethereum network.
Sui has designed the Sui Bridge interface with ease of use in mind. Users only need to connect their Ethereum and Sui wallets, select the token to transfer, and initiate the process. Most tokens are automatically sent to recipients on the Sui network, although in rare cases, users may need to manually claim their tokens.
Since the launch of Sui Bridge, the price of the SUI token has seen a steady increase, currently sitting at around $1.92, with a 6% gain in the last 24 hours. On a weekly basis, SUI has surged by 12%.
This launch is considered the first step in expanding interoperability within the Sui network. In the future, Sui Bridge plans to support more assets and introduce unique features to enable broader use cases.
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