Cetus Protocol: The Leading DEX Infrastructure on Sui and Aptos
Overview
Cetus Protocol is a decentralized exchange (DEX) operating on the Sui and Aptos blockchains. With its innovative concentrated liquidity model (CLMM), robust tokenomics, and powerful cross-chain features, Cetus has emerged as a key liquidity infrastructure provider in the DeFi space.
🔹 Core Features
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DEX Functionality
Users can swap tokens via a non-custodial interface by simply connecting their wallets. -
Concentrated Liquidity (CLMM)
Similar to Uniswap v3, Cetus allows liquidity providers (LPs) to allocate capital within specified price ranges, maximizing efficiency and yield. -
Advanced Order Types
Beyond simple swaps, Cetus supports range orders and limit orders, enabling more precise trading strategies. -
DeFi Infrastructure Layer
Other protocols can integrate Cetus’ SDK and routing system to build their own financial products. -
Utility of CETUS Token
CETUS is used for rewards, fee discounts, and governance participation.
🔹 Market Position
As of May 2025, Cetus is the leading DEX on Sui, with:
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Over $57 billion in cumulative volume
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15M+ accounts
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144M+ transactions
It outpaces competitors like DeepBook (Sui) and other Aptos-based DEXs in liquidity and usage.
🔹 Cetus Bridge
Cetus Bridge enables cross-chain asset transfers between Sui, Aptos, and other chains using Wormhole Protocol. The integration is seamless, but Cetus does not directly control the security of Wormhole’s contracts—users must be aware of associated risks.
🔹 May 2025 Exploit Incident
On May 22, 2025, Cetus suffered a major exploit, with over $223 million stolen due to an integer overflow vulnerability in the liquidity pool smart contract.
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Immediate actions included halting the contract and working with validators to freeze $163M+
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Remaining funds were laundered through Ethereum
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Cetus announced full compensation for affected users and offered a $5M bounty for information on the attacker
✅ Conclusion
Despite the security incident, Cetus remains a pioneering force in the DEX ecosystem on Sui and Aptos. Its concentrated liquidity design, DeFi infrastructure capabilities, and cross-chain support position it as a vital protocol for the evolving multichain DeFi landscape.
