The latest report by Gate Research, titled “Strategic Layout of Next-Gen Chains ：Sonic, Berachain, Abstract, Sui, Hyperliquid, Unichain, Sei“, provides an in-depth examination of the blockchain infrastructure sector as it transitions from a phase of “multi-chain warfare” to one of “stock-based competition.” Focusing on seven representative next-generation blockchains—Sonic, Berachain, Abstract, Sui, Hyperliquid, Unichain, and Sei Network—the report reveals how these projects are reshaping the competitive landscape through differentiated strategic approaches.

Key Takeaways:

• Intensifying Public Chain Competition and Strategic Differentiation: The report highlights that by 2025, blockchain infrastructure has entered a “zero-sum phase” of competition. Next-generation public chains—including high-performance chains (e.g., Sonic), innovative consensus model chains (e.g., Berachain), Layer 2 solutions (e.g., Abstract, Unichain), and DeFi-optimized chains (e.g., Sei, Hyperliquid)—are redefining the new phase of “inter-chain warfare” through distinct strategic positioning, technical innovation, and ecosystem incentives.
• Sui: Performance Potential Amid Security Concerns: The report provides an in-depth analysis of Sui’s performance-centric path built on the Move programming language and parallel execution architecture. However, following the attack on Cetus on May 22, 2025, Sui’s ecosystem TVL plunged from $2.1 billion to $1.542 billion, sparking widespread industry concerns over the real-world security of Move-based implementations.
• Sonic: Explosive Growth and Incentive Effectiveness: Driven by a dual engine of “performance + incentives,” Sonic achieved nearly 40x growth in TVL within just three months of its mainnet launch, surpassing $1 billion. Its on-chain “GDP” reached $1.47 million, providing strong validation of its ecosystem incentive strategy.
• Berachain: PoL Innovation and Liquidity-Driven Governance: Berachain introduces a novel paradigm with its unique Proof of Liquidity (PoL) consensus and tri-token model ($BERA, $BGT, $HONEY), integrating liquidity with governance. As of May 20, 2025, its TVL reached $1.189 billion.
• Abstract: Consumer-Oriented Layer 2 Strategy: Abstract positions itself as a consumer-grade Ethereum Layer 2 solution, significantly reducing user barriers through chain abstraction. As of May 22, 2025, its DeFi TVL exceeded $27 million, with tool-based protocols contributing the majority—indicating that its early ecosystem is mainly driven by tools and speculative activity.
• Hyperliquid: On-Chain Perpetuals and Profitability Surge: As a self-developed L1 chain focused on perpetual futures trading, Hyperliquid has reached a TVL of approximately $1.309 billion, with daily perpetual volume exceeding $11.5 billion. It has secured a leading position in the on-chain derivatives space, demonstrating strong profitability and deep high-frequency trading activity.
• Unichain: Uniswap-Led Growth and Liquidity Incentives: Unichain, a DeFi-optimized Layer 2 developed by Uniswap Labs, launched a $5 million incentive program that drove its TVL from $9 million to $267 million, reaching approximately $530 million by May 23, 2025—of which Uniswap contributed the vast majority.
• Sei Network: DeFi Optimization and Strong User Metrics: Focused on DeFi and high-frequency trading, Sei Network utilizes an on-chain central limit order book (CLOB). As of May 25, 2025, its TVL reached $487 million, with over 300,000 daily active addresses.

The report emphasizes that next-generation public chains have entered a new phase characterized by a three-pronged competition in performance, application scenarios, and incentive models. Future success will depend on a project’s ability to maintain technological innovation while fostering a stable and thriving developer and user ecosystem.

Gate Research Institute recommends: that market participants focus on differentiated positioning among chains, balance between technology and usability, sustainable ecosystem incentives, strengthening cross-chain collaboration, and leveraging convergence trends. A thorough analysis of each project’s economic model, governance mechanism, and ecosystem resilience will offer forward-looking guidance for investment decisions and technology adoption.

Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

Disclaimer
This content does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please note that Gate.io may restrict or prohibit some or all services for users from restricted regions. For more information, please read the User Agreement at: https://www.gate.com/user-agreement.

Gate Team
May 29th, 2025

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