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What is Haedal?

Haedal is a liquid staking protocol built natively on the Sui blockchain, designed to unlock capital efficiency for SUI and Walrus (WAL) stakers. When users deposit SUI or WAL into Haedal's staking vaults, they receive haSUI or haWAL in return — liquid staking tokens (LSTs) that accrue staking rewards automatically while remaining fully transferable and usable across the Sui DeFi ecosystem.

This dual-yield design means holders can simultaneously earn validator rewards and deploy their LSTs in lending markets, DEX liquidity pools, yield farms, and perpetual protocols without forfeiting staking income. The protocol is developed by the Haedal Protocol team and has positioned itself as one of the flagship liquid staking solutions on Sui, a high-throughput Layer 1 blockchain built by Mysten Labs using the Move programming language.

Haedal's architecture features automated validator routing, which algorithmically distributes delegated SUI across a curated validator set to optimize net staking yield, minimize slashing risk, and promote decentralization of Sui's validator set. The protocol launched its mainnet staking product in 2024 and subsequently introduced the HAEDAL governance token, which was distributed through a community airdrop and a Binance Launchpool campaign in May 2025 — a major catalyst that brought Haedal broad exposure to retail traders globally.

HAEDAL holders can lock their tokens into veHAEDAL, a vote-escrowed governance position that grants boosted rewards, a share of protocol revenue, and voting rights over validator delegation and gauge weights. The ecosystem has grown rapidly alongside Sui's expansion: haSUI is integrated across major Sui-native DeFi venues including Cetus, Navi Protocol, Scallop, Suilend, and Bluefin, where it serves as productive collateral, liquidity, and a base pair for yield strategies.

The addition of WAL liquid staking via haWAL extended Haedal's reach into Walrus, the decentralized storage protocol also developed by the Mysten Labs ecosystem, making Haedal one of the few protocols offering LSTs for multiple Sui-aligned assets. Total value locked (TVL) in Haedal has ranked it among the top DeFi protocols on Sui by staked capital, and its validator delegation makes it a meaningful voice in Sui network security.

The team has emphasized audits and transparency, with smart contracts reviewed by multiple security firms and staking operations running on non-custodial Move modules. While Haedal has avoided major controversies, the broader liquid staking category does carry inherent risks — including validator slashing, smart contract exploits, LST depeg scenarios during market stress, and governance capture — all of which Haedal mitigates through validator diversification, conservative commission structures, and progressive decentralization of veHAEDAL governance.

As Sui continues to attract developers and liquidity in 2025, Haedal sits at a strategic intersection of staking infrastructure and DeFi composability, functioning similarly to how Lido operates on Ethereum or Jito operates on Solana.

Key Features of Haedal

• Dual-Asset Liquid Staking: Haedal is one of the few Sui-native protocols offering liquid staking for both SUI and WAL, issuing haSUI and haWAL respectively. This lets users tap into Sui network validator rewards and Walrus storage node rewards simultaneously while keeping capital liquid.
• veHAEDAL Governance: HAEDAL holders can lock tokens into veHAEDAL positions, earning boosted staking yields, protocol revenue share, and governance voting weight. Longer lock durations translate into larger voting power, aligning incentives with long-term protocol health.
• Smart Validator Routing: The protocol automatically delegates staked SUI across an optimized validator set based on commission rates, uptime, and performance. This maximizes net APR for depositors while diversifying slashing risk and supporting Sui validator decentralization.
• Deep DeFi Composability: haSUI and haWAL are integrated across leading Sui DeFi protocols including Cetus, Navi, Scallop, Suilend, and Bluefin. Users can lend, borrow, LP, or leverage their LSTs without ever unstaking the underlying SUI or WAL.
• On-Chain Protocol Governance: HAEDAL token holders direct key parameters including validator whitelisting, fee structures, gauge emissions, and treasury spending. All proposals and votes are executed on-chain via Sui's Move-based smart contracts for full transparency.

Haedal Use Cases

• Earn While Staying Liquid: Stake SUI through Haedal to receive haSUI and continue earning validator rewards automatically. The haSUI can then be deployed elsewhere in DeFi, giving users yield on top of yield without locking up capital.
• veHAEDAL Yield Boosting: Lock HAEDAL into veHAEDAL to amplify staking APRs and claim a share of protocol fees. This strategy suits long-term believers who want maximum returns and direct influence over protocol direction.
• LST Liquidity Provision: Supply haSUI/SUI or haWAL/WAL pairs to Sui DEXs like Cetus or Bluefin to earn trading fees and liquidity mining rewards. Because the two assets are highly correlated, impermanent loss risk is substantially lower than standard pairs.
• Governance Participation: Use veHAEDAL voting power to influence validator delegation flows, gauge weights, and treasury decisions. Active governance participants can shape which validators and partner protocols receive HAEDAL emissions.
• Collateralized Borrowing: Deposit haSUI or haWAL into lending markets such as Navi, Scallop, or Suilend to borrow stablecoins or other assets. This enables leveraged staking loops, short-term liquidity access, and delta-neutral yield strategies while preserving staking exposure.

Haedal Tokenomics

Total Supply

HAEDAL has a maximum total supply of 1,000,000,000 tokens. Allocations span community incentives, ecosystem growth, team, investors, and treasury reserves, with community and ecosystem receiving the largest share.

Circulating

Initial circulating supply at Binance Launchpool listing in May 2025 was approximately 195,000,000 HAEDAL (19.5% of max supply).

Utility

HAEDAL powers governance, veHAEDAL vote-escrow locking, protocol fee sharing, and liquidity mining incentives. Locking HAEDAL also unlocks boosted staking rewards and voting rights over validator delegation and gauge emissions.

Emission

Tokens unlock according to a multi-year vesting schedule with staggered releases for team, investor, and ecosystem allocations. Community and liquidity incentives emit progressively to reward active stakers and governance participants; consult the official Haedal documentation for the current unlock calendar.

Frequently Asked Questions

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