Sui Basecamp 2026 Recap: 40M TPS, Samsung Wallet, Hashi

Sui Basecamp 2026 was the Sui ecosystem's flagship annual conference, held on 7 and 8 October 2026 at Marina Bay Sands in Singapore, alongside TOKEN2049. It produced three headline announcements: a throughput test that reached about 40.6 million transactions per second inside offchain Sui tunnels, a Samsung Wallet integration for USDC on Sui in the US, and a mainnet date for Hashi, Sui's native-Bitcoin collateral system.

This recap explains what each announcement actually means, where the headlines overstate things, what was still unresolved ten days later, and what changes, if anything, for people who already use Sui DeFi. If you are new to the network, start with what Sui is; for the wider conference week, see our TOKEN2049 Singapore 2026 recap.

What Sui Basecamp is

Sui Basecamp is the annual gathering run by the Sui Foundation and Mysten Labs, the original contributor to Sui. The Sui Foundation describes it as "the Sui ecosystem's flagship annual gathering", built around product reveals, technical sessions and demos. 2026 was the third edition:

• 2024, Paris: the first Basecamp, held on 10–11 April 2024 during Paris Blockchain Week. Sui's own recap reports more than 1,100 attendees from 65 countries. It is where Mysten Labs presented Mysticeti, the consensus engine Sui now runs on (see what is Mysticeti).
• 2025, Dubai: held on 1–2 May 2025, per the Sui Foundation's 2025 events calendar.
• 2026, Singapore: 7–8 October 2026 at Marina Bay Sands, timed to TOKEN2049 week. Advance passes cost $149.

The 2026 theme was the "agentic economy": the idea that a growing share of payments will be made by AI agents acting for people, which needs instant settlement, verifiable authorisation and private transactions. The 27 August preview listed speakers including Raoul Pal of Real Vision, Mysten Labs co-founders Adeniyi Abiodun and Kostas Chalkias, Richard Socher of You.com, EVE Frontier's Hilmar Veigar Pétursson, a director from Google DeepMind and former CFTC commissioner Brian Quintenz, now a director of Sui Holdings Group. Alongside the stages there was an AI Builder Lab and a live Trading Arena. Walrus and EVE Frontier were Diamond sponsors, and Scallop, one of the lending protocols JewelSwap builds on, was among the Bronze sponsors.

The 40 million TPS test, explained

On 7 October, on the Summit Stage, Mysten Labs ran a live speed test with a 20 million TPS target. According to the Sui Foundation, Sui tunnels processed 40,614,180 transactions per second, with more than 10,000 tunnels opened on mainnet within seconds of each other. CertiK acted as independent auditor.

What a tunnel is, in plain language

A tunnel is a private channel between two or more parties. You open it with one transaction on Sui mainnet and lock some funds or state into it. Inside the tunnel, the participants exchange signed updates with each other as fast as their computers can manage; none of those updates goes to the blockchain. When the parties are done, they close the tunnel with a second mainnet transaction that records the final, co-signed result. If someone cheats or disappears, the chain is the referee.

Sui itself compares tunnels to Bitcoin's Lightning Network payment channels, with one difference: Sui tunnels are programmable, so they can carry game moves or chat-style interactions as well as payments. Abiodun's own analogy was a court: agents agree the rules when they open a tunnel, and Sui only steps in to settle or resolve disputes.

Why it is not base-layer TPS

The 40 million figure counts offchain updates inside tunnels, not transactions written to Sui's blockchain. CertiK's verification report (Final v1, dated 14 October 2026) says this directly: tunnel TPS "is not a measurement of Sui on-chain transaction capacity." That does not make the result meaningless. It shows how much activity can be pushed through Sui-settled channels, which is relevant to machine-to-machine payments. But it should not be compared with the onchain TPS figures other networks publish.

CertiK's role and its caveats

Sui ran the test and supplied the data; CertiK recalculated the counts from the transaction logs. Its report covers 10 runs across five workload types, with 15,241,348,297 committed tunnel transactions, and every one of the 7,680 tunnels recorded as opened and settled on chain. The report is also open about its limits: it says it reconciled receipt counts but did not perform a fresh cryptographic replay of the full history, and that final balances and state roots were "not independently established." Both the July result and the October one were measured inside tunnels, so the jump from about 6 million to about 40 million is a like-for-like comparison.

Samsung Wallet and USDC on Sui

On 8 October the Sui Foundation announced that Samsung Wallet had selected Sui as blockchain infrastructure for USDC. The key details from that announcement:

• US first. The service starts on eligible Galaxy devices in the US, with other markets to follow at an unspecified date. "82 million" is the number of US Galaxy devices it can reach, not a user count.
• USDC only. USDC is the only supported asset at launch. The SUI token is not supported in Samsung Wallet.
• Gasless transfers. Users send USDC without paying a network fee or holding SUI, using the gasless stablecoin transfers that went live on Sui mainnet in May 2026.
• Remittances focus. The pitch is cross-border transfers, not shop payments.

As Blockhead noted, the announcement did not say how users will fund a USDC balance, whether the wallet is self-custodial, or when exactly the feature goes live. Some outlets also report that Samsung's own statement names more than one network partner; the Sui Foundation's post covers only Sui. For Sui users the practical point is distribution: a phone wallet with a very large installed base will be able to send USDC over Sui. For more on how this fits the wider trend, see stablecoin payments in 2026.

Hashi mainnet and hBTC

Also on 8 October, Sui announced that Hashi mainnet would begin a phased rollout later that month, with more than $500 million in capital commitments from a launch coalition of over 20 partners. Cointelegraph reported the same figures.

How Hashi works

Hashi lets native Bitcoin act as collateral in Sui applications without moving it off the Bitcoin network. When BTC is deposited, hBTC is minted on Sui against it and can be used in lending, borrowing, vaults and other apps. When a user exits, the hBTC is burned and the native BTC is released on Bitcoin. Mysten Labs built the underlying framework; the financial products on top are run by third parties, with Aftermath, Concrete and Fluid named among the vault providers.

The 2-of-2 and the Guardian Layer

The deposited BTC is held under a 2-of-2 multisig: one key is controlled by Hashi's validators using MPC (threshold cryptography, so no single machine holds it), the other by a separate guardian. Both must approve before BTC leaves. The Guardian Layer is an extra check that can slow or stop suspicious withdrawals. One trade-off worth knowing: a brake that slows an attacker can also slow legitimate withdrawals during a market panic. Sui says Certora formally verified Hashi's smart contracts and CommonPrefix reviewed its MPC protocol.

Anchorage and the $500 million

Anchorage Digital joined as a day-one partner, offering two routes in: tri-party collateral through its Atlas settlement infrastructure for institutions held to qualified-custody rules, and direct access through its Porto self-custody wallet. It also plans to provide stablecoin liquidity. The other named partners include BitGo, Bullish, Cumberland, FalconX and Ledger. Note that $500 million is committed capital, not deposits: as of 18 October 2026 we found no confirmation that mainnet deposits had opened. For the wider picture, see our guide to Bitcoin yield in DeFi.

Other Sui news around Basecamp week

Several Sui announcements landed in the weeks either side of the conference. In date order, from the Sui blog:

• 24 September 2026: DeepBook App launched with spot trading on Sui's onchain order book and "Predict", a BTC price-range market. Background: what is DeepBook.
• 1 October 2026: Sui and OpenAssets announced work on the Open Tokenized Asset Standard (OTAS), hosted under Linux Foundation Decentralized Trust, with the Sui Foundation as an original sponsor.
• 7 October 2026: the tunnel throughput record.
• 8 October 2026: Samsung Wallet USDC and Hashi mainnet.
• 12 October 2026: the DATA Network and its Trace registry for rights-cleared AI training data joined Sui, with Walrus as the default storage layer (see what is Walrus).

Open questions and upcoming Sui events

A few things were still open as of 18 October 2026:

• The CertiK report: at Basecamp it was promised "in the coming days". It is now published, dated 14 October, and confirms the peak figure, with the caveats above.
• Hashi timing: Sui said the rollout would begin by the end of October and widen as partners finish their integrations. Retail access depends on wallets and apps integrating, so expect it in stages.
• Samsung Wallet: no confirmed go-live date, funding method or custody model in the Sui announcement, and no date for markets outside the US.
• Tunnels in real apps: the record shows capacity; how many everyday apps adopt tunnels is a separate question.

On events: Sui's annual hackathon, Sui Overflow 2026, has finished; the Sui Foundation named 26 winners from 747 submissions on 27 August 2026. Korea Blockchain Week 2026 ran from 29 September to 1 October in Seoul, just before Basecamp; see Sui in South Korea. As of 18 October 2026 we found no announced date or city for Sui Basecamp 2027 or for Sui Overflow 2027. The Sui events calendar is the place to check for community meetups.

What it means if you use Sui DeFi

Nothing announced at Basecamp changes how existing Sui DeFi works today. The near-term effects are indirect. Gasless USDC and Samsung distribution could bring more stablecoins onto Sui, and Hashi could add a new Bitcoin collateral asset once it is live and apps list hBTC. Before using any new asset, check its liquidity and the risks of the apps that list it.

If you want to take part now, the usual route is: buy SUI on an exchange available where you live, withdraw it to a self-custody Sui wallet (compare options in best Sui wallets; note that Phantom ended Sui support on 24 September 2026), then use apps directly. On JewelSwap's Sui app you can liquid stake SUI into JWLSUI and stake that for SJWLSUI (see our Sui staking guide and liquid staking comparison), or use Scallop, Cetus and Turbos farms. For the full map of Sui apps, see our best DeFi platforms on Sui hub, and if you were in Singapore for the week, Sui in Singapore covers the local picture. Access to DeFi may be restricted where you live, so check local rules first.

Frequently asked questions

When and where was Sui Basecamp 2026?

Sui Basecamp 2026 took place on 7 and 8 October 2026 at Marina Bay Sands in Singapore, alongside TOKEN2049. Earlier editions were held in Paris in April 2024 and in Dubai in May 2025.

Did Sui really reach 40 million TPS?

Yes, but via offchain Sui tunnels, not on the base layer. Sui reported 40,614,180 TPS live, and CertiK's report dated 14 October 2026 gives a 40,682,328 peak, while stating that tunnel TPS is not a measurement of Sui's onchain capacity.

Can I hold SUI in Samsung Wallet?

No. At launch Samsung Wallet supports only USDC on Sui, starting with eligible Galaxy devices in the US. The SUI token is not supported, and transfers are gasless, so users do not need SUI to send USDC.

What is hBTC on Sui?

hBTC is the asset Hashi mints on Sui against native Bitcoin deposited into the system. The BTC stays on the Bitcoin network under a 2-of-2 multisig between Hashi's validators and a guardian, and hBTC is burned when the BTC is withdrawn.

Is Hashi live yet?

Not fully, as of 18 October 2026. Sui said the phased mainnet rollout would begin in late October 2026, with more than $500 million in capital commitments, and that access will widen as launch partners complete their integrations.

When is Sui Basecamp 2027?

As of 18 October 2026, no date or city for Sui Basecamp 2027 had been announced. Check the Sui Foundation's blog and events calendar for updates.

Keep reading

• TOKEN2049 Singapore 2026 recap
• Sui in Singapore
• Best DeFi platforms on Sui in 2026
• What is Sui?
• Bitcoin yield in DeFi
• Stablecoin payments in 2026

This article is educational and is not financial, legal or tax advice. Figures are as of 18 October 2026 and come from Sui Foundation announcements, CertiK's verification report and the outlets linked throughout; announced products and dates can change. Sources are linked inline.