➤ Public response after security incidents
The Cetus protocol recently faced an attack, leading to external attention on the Sui ecosystem. This issue originated from a single protocol's contract flaw, with no direct relation to Sui's underlying architecture and the Move language.
Momentum is one of the earliest protocols to respond after the incident, actively disclosing security systems and announcing a new round of incentive plans. While emphasizing the principle of decentralization, it stabilizes ecological confidence and highlights the importance of protocol governance capabilities.
➤ Structural design of the security system
❚ Permission isolation mechanism
Momentum has set up multi-layer permission controls from frontend to backend to contract systems, requiring sensitive operations to be completed through multi-signature to avoid single point risks caused by centralized permissions.
❚ Multi-dimensional testing coverage
Including standardized unit testing, integration testing, and coverage of high-risk vulnerability types such as array out-of-bounds, the testing system simulates extreme scenarios to ensure the protocol remains stable under edge cases.
❚ Real-time monitoring and suspension system
Real-time monitoring components are integrated into the protocol operation, and abnormal behavior can trigger alerts immediately, preventing attacks from continuing to expand through suspension functions when necessary.
❚ Audit mechanism
All major version updates are arranged for parallel audits by multiple external teams to enhance code reliability and reduce potential blind spots.
❚ Security incentives
Momentum is organizing a joint vulnerability bounty pool to attract third-party developers to participate in systematic protection, helping to enhance the overall risk resistance of the ecosystem.
➤ Dual incentive mechanism under the ve(3,3) model
Starting from May 25, 2025, Momentum will launch a new round of incentive plans:
- Triple $SUI incentives from the Sui Foundation;
- The protocol itself synchronously provides triple Bricks rewards;
- Incentive periods are at least one week, and subsequent adjustments will be made dynamically based on participation.
Currently one of the schemes with the highest incentive intensity within the Sui network.
Incentives are designed based on the ve(3,3) model. This mechanism introduces ideas from game theory on cooperative incentives on top of the veToken locking mechanism, encouraging long-term binding behavior to achieve higher overall system efficiency.
➤ Protocol positioning and development path
Momentum is a native ve(3,3) DEX developed based on the Move language, originally a multi-signature wallet called MSafe, which has gradually expanded into an infrastructure module integrating liquidity management, token release, and governance mechanisms.
The protocol adopts a dual-token design:
- $MMT is used for protocol functions and incentives;
- $veMMT serves as the governance and voting token, associated with the duration of locking.
This structure combines the coupling design of incentives and governance, balancing between capital efficiency and institutional controllability.
➤ Financing background and technical context
So far, Momentum has completed a total financing of 10 million USD and will continue to announce new rounds of financing progress in the future.
The financing lineup includes:
- Leading investor Varys Capital, a fund backgrounded by the Qatari royal family office;
- Sui Foundation and Mysten Labs provide dual support in technology and ecology;
- Core individual investors include Adeniyi Abiodun, co-founder of Mysten Labs;
- Multiple top-tier American institutions are involved, such as Coinbase Ventures and Circle Ventures.
- Founder ChefMMT was an early engineer for Meta Libra (now Diem) and has long-term working experience with core team members of Sui and Aptos, providing strong endorsement for technological implementation and ecological integration.
➤ Manifestation of decentralized collaboration mechanisms
After the Cetus attack incident, the Sui community did not take centralized intervention measures, but instead controlled risks through methods such as validator nodes autonomously choosing not to package attack transactions and coordinating shutdowns among various protocols.
Momentum responds timely and collaborates with the ecosystem, indicating that it not only conforms to decentralization principles in mechanism but can also work with other members of the ecosystem to jointly maintain the security of user assets in practice.
➤ Summary
What Momentum demonstrates is not just a functional product or a single incentive mechanism, but a complete protocol system that includes security systems, incentive logic, and governance structure.
In the context of the gradual expansion of the Move ecosystem, this mechanism of 'structured governance + incentive synergy' is expected to become an important fulcrum for promoting a more efficient and controllable operation of the Sui network.
