Published on Binance Square | May 26, 2025
Introduction
Haedal Protocol (HAEDAL) is an innovative liquid staking platform built on the Sui blockchain, designed to enhance staking efficiency and DeFi participation. By allowing users to stake their SUI tokens and receive liquid staking tokens (haSUI) in return, Haedal enables continuous earning of staking rewards while maintaining liquidity for other decentralized finance activities.
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Key Features
Liquid Staking with haSUI: Users can stake SUI tokens and receive haSUI, a yield-bearing token that represents their staked assets. This approach allows users to participate in DeFi activities without sacrificing staking rewards.
Dynamic Validator Selection: Haedal employs algorithms to select validator nodes on the Sui network with the lowest commission rates and highest annualized returns, optimizing staking efficiency.
Haedal Market Maker (HMM): An automated market maker designed to optimize liquidity for haSUI and other assets on Sui. HMM uses protocol-owned liquidity to provide efficient trading and enhance yields for haSUI holders.
Governance through veHAEDAL: HAEDAL is the native governance token of the Haedal Protocol. Users can lock HAEDAL tokens to receive veHAEDAL, granting them voting power in protocol decisions and access to enhanced staking rewards.
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Recent Developments
Binance HODLer Airdrop: On May 21, 2025, Binance announced HAEDAL as the 19th project in its HODLer Airdrops program. A total of 30 million HAEDAL tokens were allocated to reward BNB holders who participated in Simple Earn and On-Chain Yields products.
Trading on Major Exchanges: HAEDAL is actively traded on major cryptocurrency exchanges, including Binance, where it is paired with USDT, USDC, BNB, FDUSD, and TRY.
Temporary Suspension of haeVault: Following a $223 million exploit of the Cetus liquidity pool, Haedal temporarily suspended its haeVault feature, which relied on Cetus. The protocol assured users that all other on-chain features and funds remained safe.
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Market Performance
Current Price: As of May 26, 2025, HAEDAL is trading at approximately $0.1507.
Market Capitalization: The market cap stands at around $29.5 million, with a fully diluted valuation of approximately $151 million.
Circulating Supply: There are currently 195 million HAEDAL tokens in circulation, out of a total supply of 1 billion.
Total Value Locked (TVL): Haedal has over $226 million in total value locked, making it the third-largest DeFi platform on the Sui blockchain.