Recently, my perspective when evaluating projects has undergone a significant shift: instead of being dazzled by flashy narratives, I focus more on a core question—does this product truly revolve around real use cases and build from the ground up? It is from this pragmatic viewpoint that I have come to see the true value and positioning of @ferra_protocol.

Simply understanding Ferra @ferra_protocol as an ordinary DEX is actually a severe underestimation of its capabilities. What it truly aims to solve are the long-standing structural pain points of on-chain trading: liquidity fragmentation, highly mechanical execution, and the lack of ongoing interactive relationships among users. Ferra chooses to redesign this layer of infrastructure on the Sui network, reintegrating trading behavior, market-making logic, and user relationships into a single native system, with the goal of returning on-chain trading to a state of “real people using it.”

Its design philosophy is highly pragmatic, not blindly pursuing the ultimate performance of a single model. Instead, it employs parallel multi-paradigm liquidity structures (DLMM + CLMM + DAMM), allowing funds with different risk preferences and strategy biases to find the most suitable deployment. Meanwhile, liquidity providers (LPs) are no longer limited to passively earning fees but can deeply participate in governance, staking, ecosystem incentives, and guild gameplay. Essentially, this greatly enhances the capital turnover efficiency and long-term stickiness within the protocol.

A more forward-looking aspect is that the underlying execution logic of @ferra_protocol is not limited to human users. Its intent-centric architecture is highly friendly to the future high-frequency, deterministic, low-slippage trading needs of large-scale AI Agents. From this perspective, Ferra is closer to a decentralized financial execution layer and liquidity infrastructure rather than a traditional trading venue.

Although the mainnet has not been online for long (by early 2026, just about 3 months after launch, it has already accumulated over $1 billion in real trading volume, with a TVL of around $11 million, showing an extremely high capital turnover multiple), it has demonstrated stable and sustainable real trading depth. The team’s pace clearly leans toward long-termism, not rushing to push TGE, but continuously iterating on data structures, liquidity efficiency, and LP guild mechanisms.

From the perspective of long-term construction within the Sui ecosystem, Ferra is playing the role of an underlying liquidity backbone rather than a short-term traffic harvesting tool. How far it can go will be tested by the market, but at least its direction is clear and sober.

@ferra_protocol
#Ferra #Sui @KaitoAI #KaitoYap