Lofi The Yeti Acquires the @yetis X Account for Social Events and Giveaways
The Yeti-themed Sui brand says the account will host social events and giveaways. Lofi's planned Sui DEX, which would use Full Sail's codebase under a verbal agreement, is slated for Q4.
Lofi The Yeti, the Yeti-themed brand and community on Sui, has acquired the @yetis account on X. The team announced the move on October 24, saying it wanted "an extra space to engage with the Flurry, share posts, and show up like a community member." Terms were not disclosed.
The announcement came from @eyezenhour, a Lofi founder. It said the main @lofitheyeti account, which @eyezenhour manages with co-founder @domwoods, will stay focused on the brand, its charity work, "Yeti things," and building on Sui, while @yetis will host social events and giveaways and engage more with the community.
Lofi at Sui Basecamp
Lofi was at Sui Basecamp, held October 7-8 at Marina Bay Sands in Singapore. In a Basecamp recap video posted October 21, @lofitheyeti showed the Lofi booth, team members and Yeti mascots on the event floor. Lofi described the event as drawing "thousands of builders" and a community that is "even better IRL."
The planned Sui DEX
Separately, Lofi said on September 30 that it will launch a new Sui DEX in the fourth quarter. @eyezenhour said the team had entered into a "verbal agreement" with the Full Sail team to acquire its codebase and audits and to retain the development team's guidance. No terms have been disclosed, and SuiWire found no announcement of a completed transaction. Lofi has not announced a name or launch date for the exchange.
Full Sail, a Sui DEX, said on September 1 that it was winding down after an attacker removed about $91,000 from three of its vaults on August 29. Full Sail attributed the incident to a suspected compromise of oracle provider Switchboard's infrastructure. Lofi said its due diligence found the exploit was related to a bad oracle price that caused a cascade across DeFi positions, and that the core DEX was unaffected.
Lofi said the exchange will be a pure DEX, with no lending, borrowing or perpetuals markets, and that it has no plans to launch a token for it.
This article is not investment advice.
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