Cetus, a DEX and liquidity protocol built on Sui and Aptos, has surpassed its hard cap target of 800,000 Sui tokens within 30 seconds of the initial DEX offering (IDO) going live. The IDO, which is ongoing until May 10, offers 20 million Cetus tokens (CETUS) out of a total supply of 1 billion CETUS. Users can commit SUI in exchange for CETUS at an exchange rate of 1 SUI to 25 CETUS, placing the Cetus DEX at an initial valuation of $45.8 million. The SUI public sale took place weeks prior with an offering price of 0.1 Tether (USDT) per SUI.
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