Introduction to Sui Blockchain
Sui is a Layer 1 public blockchain developed by Mysten Labs, founded by former Meta (Novi Research) executives. Designed to address scalability challenges, Sui prioritizes instant transactions, high throughput, and low latency while reducing costs for decentralized applications (dApps).
Key Features:
- Founding Team: Led by Evan Cheng (ex-Meta crypto wallet developer).
- Funding: Raised $36M in Series A (2021) from a16z, Coinbase Ventures, and others.
- Native Token (SUI): Powers transactions, governance, and staking.
👉 Discover how to trade SUI on top exchanges
Sui Tokenomics
Token Utility:
- Staking: Secure the network via Proof-of-Stake.
- Gas Fees: Pay for transactions and smart contracts.
- Governance: Vote on protocol upgrades.
Supply Details:
- Initial Release: Partial supply at mainnet launch.
- Future Distribution: Vesting schedules and staking rewards.
SUI Token Sale: Exchange Listings (2023)
Overview:
Instead of an airdrop, Sui opted for direct exchange sales with tiered pricing:
– Public Sale: $0.10 per SUI (10,000 SUI max per user).
– Whitelist Sale: $0.03 per SUI (1,500 SUI max for eligible contributors).
Participating Exchanges:
| Exchange | Sale Start Date | Price (Public/Whitelist) | Max Purchase | Allocation |
|---|---|---|---|---|
| OKX | April 23 | $0.10 / $0.03 | 10,000 SUI | 225M SUI |
| KuCoin | April 15 | $0.10 / $0.03 | 10,000 SUI | 225M SUI |
| Bybit | April 18 | $0.03 (Whitelist only) | 1,500 SUI | 94M SUI |
👉 Secure your SUI tokens during the sale
Whitelist Eligibility
Requirements:
- Active in Sui’s Discord before February 1, 2023.
- Must verify email/name with Sui Foundation.
Note: Whitelist access doesn’t guarantee allocation.
Community Backlash Over No Airdrop
Despite repeated disclaimers, many users expected an airdrop. The decision sparked criticism:
– Community Sentiment: Frustration over no rewards for testnet participants.
– Counterargument: Sui focuses on long-term sustainability over short-term hype.
FAQs
1. When will SUI be listed on Binance?
As of April 2023, Binance hasn’t announced SUI listings. Monitor official channels for updates.
2. What’s the total supply of SUI?
Exact figures aren’t public, but initial sales involve ~492M SUI (~$49.32M raised).
3. Can I trade SUI immediately after purchase?
Tokens unlock at mainnet launch. Check exchange timelines for trading availability.
4. How does Sui compare to Aptos?
Both use Move language, but Sui emphasizes horizontal scaling and lower fees.
5. Is SUI a good investment?
DYOR. Consider tech fundamentals, team credibility, and market conditions.
6. What’s Sui’s TPS (Transactions Per Second)?
Currently ~15 TPS (vs. claimed 160K TPS potential). Scalability upgrades are planned.
Conclusion
Sui’s no-airdrop strategy shifts focus to equitable sales, though community sentiment remains mixed. With its tech pedigree and exchange backing, SUI’s market performance will hinge on adoption post-launch.
For real-time updates, follow Mysten Labs’ official announcements and exchange notices.
Disclaimer: This content is informational only. Never invest more than you can afford to lose.
“`