What is Haedal Protocol and how does it work on the Sui blockchain?

Haedal Protocol is a liquid staking platform developed on the Sui blockchain, designed to make staking more flexible and accessible. In traditional staking, once you lock your tokens to help secure the network and earn rewards, those tokens become illiquid — meaning you can’t use or move them while they’re staked. Haedal addresses this limitation through liquid staking.

Here’s how it works:

• Users stake SUI tokens via the Haedal platform.

• In return, they receive haSUI, a liquid, yield-bearing token that represents their staked position.

• haSUI gradually increases in value as staking rewards accumulate, allowing holders to benefit from yield without losing access to liquidity. You can use haSUI in other DeFi protocols, trade it, or hold it.

This model helps users maximize the utility of their assets while still participating in network staking rewards, a key innovation in decentralized finance.

Additionally, the centralized exchange Bitget has been supporting the growth of the HAEDAL ecosystem. As part of this, they runs various community initiatives and trading campaigns, including a reward pool of 817,000 HAEDAL tokens, which users can access by participating through futures trading or token deposits.

These kinds of partnerships between DeFi protocols and centralized exchanges reflect a growing synergy in the Web3 ecosystem, aiming to enhance accessibility and adoption for both new and experienced users.