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Decentralized permissionless crypto maxi. Testing crypto, writing about crypto, working in crypto and for crypto Twitter @icidark for offer
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Links ⬇️
Website of the Foundation - https://suifoundation.org/
Twitter - https://twitter.com/SuiNetwork
Website of the project - https://sui.io/
Discord - https://discord.gg/sui
Origins
Team
Technical features
Tokenomics and Investors
Activity and potential returns
Summary
Like in the case of @Aptos — Sui takes its origins from the Facebook project that was called Diem. As we all know this project failed due to the pressure of the regulators but at the same time the clever and talented core team did not leave what they were building and decided to keep building. After the closure of the “Diem” project team splits and some of the engineers and talents gathered to build a new L1 blockchain called “Sui”
Here is the site of the team called MystenLabs that is building Sui right now 🔽
Notably, they are also building Move which is stated to be the “Rust killer”. Most of the Devs say that it has a better developing experience, but more on that later. Overall, we see a team of real professionals with more than 10 years of working experience in the leading TEC companies.
Sui is a Layer 1 blockchain with PoS consensus. As I’ve said previously, the Sui blockchain is built on the Move programming language which means that it is a new solution to the previous Rust language if we take the Solana example. Here is the source where you can find more detailed info ⬇️
https://golden.com/wiki/Move_(programming_language)-MNA4DZ6
Here you can find the whitepaper of the Sui blockchain ⬇️
https://github.com/MystenLabs/sui/blob/main/doc/paper/sui.pdf
The key takeaway here is: Sui is a decentralized permissionless smart contract platform. What is permissionless in that case?
🖐️ Permissionless is a blockchain-specific term that means that users do not require permission to use a blockchain protocol, DeFi platform, or related system. Basically, this is just a fancy word that is used for saying that this is the public blockchain like many others.
Also, Sui claims to be one of the first blockchains to integrate parallel agreements which means that Sui scales horizontally with no upper bound to meet application demand while maintaining extremely low operating costs per transaction.
More on that in their article ⬇️
https://docs.sui.io/learn/about-sui
Regarding this topic, I have to say that there was a concern from the devs community that Solana had this solution a while before. Check this link to find out more - https://www.youtube.com/watch?v=AvYf2MBjfow
As you know, I’m not the developer (as of right now) but lots of them saying that the Move coding experience is way better than Rust which currently Solana operates on.
A cool feature that I’ve found recently (quote from the Sui tokenomics whitepaper) - https://github.com/MystenLabs/sui/blob/main/doc/paper/tokenomics.pdf)
An unoptimised single-worker Sui validator running on 8-core M1 Mac Book pro can execute and commit 120,000 token transactions per second (TPS).
Oh yeah, the most beloved topics of all crypto dudes.
There were 2 rounds of investing in Sui
https://cointelegraph.com/news/former-meta-execs-raise-300m-to-accelerate-adoption-of-sui-blockchain
Other Series B investors included Coinbase Ventures, Jump Crypto, Andreessen Horowitz’s a16z, Circle Ventures, Binance Labs and O’Leary Ventures, among other investment funds and partners, with the new capital valuing the company at over $2 billion.
Sui’s native asset is called SUI and we generally use the capitalized version of SUI to distinguish the token from the Sui platform. The total supply of SUI is capped at 10,000,000,000 (i.e. ten billion tokens)
Total tokens 100% 10,000,000,000 Investors 14% 1 400 000 000 Valuation (VC price) $336mil 0.24 Min valuation $336mil 0.0335
According to this analysis, we can see the price around 24 cents at the start of the Mainnet. More info about the tokenomics you can find on the links below ⬇️
https://github.com/MystenLabs/sui/blob/main/doc/paper/tokenomics.pdf
https://medium.com/mysten-labs/announcing-sui-tokenomics-9cb829086e30
https://sui.io/resources-tokenomics/sui-token-allocation/
The Community Reserve, managed by the Sui Foundation, owns more than half of all SUI tokens and they will be used across a variety of community programs.
In addition to the Sui Foundation’s efforts, Sui community members will be able to purchase the SUI token in the early stages of Sui Mainnet.
The Community Access Program will let Sui enthusiasts obtain SUI directly without having to participate in the Foundation’s programs. These tokens will also support community members who have interacted with and tested Sui Apps to help improve Sui’s ecosystem during the devnet and testnet phases.
Importantly, the Sui Foundation will make the reward and distribution of SUI tokens to Sui’s early community members a topmost priority. For Sui friends who are already spreading knowledge about Sui, onboarding developers onto Sui, and testing and helping refine the product experience of Sui’s current applications, know that the Sui Foundation is here for you.
As was stated in the previous paragraph - this is a way to provide value for blockchain. If you made it this far throw the article — you probably touched some of the links on your way. However, I’ll copy some with them with the pinned points so it will be easier to navigate.
https://sui.io/resources-sui/community-access-program/
On this page, you can find all the info about Token Community Access. This is TL&DR
https://suifoundation.org/#grants - grants for devs (from $10k to $100k in rewards)
https://suifoundation.org/decentralization/#suidelegation - rewards for delegators (with money provided to become a delegator)
Ambassador program (not launched yet)
Educational program (not launched yet)
Talking about additional activities - Sui testnet Faze 1 was completed not long ago but now it is time to wait for the Testnet Faze 2 announcement.
What to do now? Check this ⬇️
The Sui Foundation will spend the coming weeks working together with the community to ensure this program delivers on its goals. In the meantime, drop a line on our Discord channels, apply for a developer grant, and keep learning about Sui.
I think that now we have a chance to contribute to the project in the faze of not mass adopted ecosystem that is still early in the building process. Before the crowd comes on the ambassador programs and announcements — we are here to build!
Sui is one of the most promising blockchains in the upcoming market. Seeing Aptos going crazy right now we can prepare to see something similar with Sui. However, because they came from one team of specialists — we can see the fight between them for the best projects on their blockchain.
The project is interesting by its TPS, a new programming language that is Dev-friendly and scalability.
It is probably one of the best projects to invest your time and effort in this state of the market!
Hope this article was helpful to you. Subscribe to my Twitter to get more in-depth crypto analysis! Follow for more guides and research 💬
If you are willing to support my creative journey - you can support me by collecting the entry below. Note that your subscription is the best support for me 🖤
Links ⬇️
Website of the Foundation - https://suifoundation.org/
Twitter - https://twitter.com/SuiNetwork
Website of the project - https://sui.io/
Discord - https://discord.gg/sui
Origins
Team
Technical features
Tokenomics and Investors
Activity and potential returns
Summary
Like in the case of @Aptos — Sui takes its origins from the Facebook project that was called Diem. As we all know this project failed due to the pressure of the regulators but at the same time the clever and talented core team did not leave what they were building and decided to keep building. After the closure of the “Diem” project team splits and some of the engineers and talents gathered to build a new L1 blockchain called “Sui”
Here is the site of the team called MystenLabs that is building Sui right now 🔽
Notably, they are also building Move which is stated to be the “Rust killer”. Most of the Devs say that it has a better developing experience, but more on that later. Overall, we see a team of real professionals with more than 10 years of working experience in the leading TEC companies.
Sui is a Layer 1 blockchain with PoS consensus. As I’ve said previously, the Sui blockchain is built on the Move programming language which means that it is a new solution to the previous Rust language if we take the Solana example. Here is the source where you can find more detailed info ⬇️
https://golden.com/wiki/Move_(programming_language)-MNA4DZ6
Here you can find the whitepaper of the Sui blockchain ⬇️
https://github.com/MystenLabs/sui/blob/main/doc/paper/sui.pdf
The key takeaway here is: Sui is a decentralized permissionless smart contract platform. What is permissionless in that case?
🖐️ Permissionless is a blockchain-specific term that means that users do not require permission to use a blockchain protocol, DeFi platform, or related system. Basically, this is just a fancy word that is used for saying that this is the public blockchain like many others.
Also, Sui claims to be one of the first blockchains to integrate parallel agreements which means that Sui scales horizontally with no upper bound to meet application demand while maintaining extremely low operating costs per transaction.
More on that in their article ⬇️
https://docs.sui.io/learn/about-sui
Regarding this topic, I have to say that there was a concern from the devs community that Solana had this solution a while before. Check this link to find out more - https://www.youtube.com/watch?v=AvYf2MBjfow
As you know, I’m not the developer (as of right now) but lots of them saying that the Move coding experience is way better than Rust which currently Solana operates on.
A cool feature that I’ve found recently (quote from the Sui tokenomics whitepaper) - https://github.com/MystenLabs/sui/blob/main/doc/paper/tokenomics.pdf)
An unoptimised single-worker Sui validator running on 8-core M1 Mac Book pro can execute and commit 120,000 token transactions per second (TPS).
Oh yeah, the most beloved topics of all crypto dudes.
There were 2 rounds of investing in Sui
https://cointelegraph.com/news/former-meta-execs-raise-300m-to-accelerate-adoption-of-sui-blockchain
Other Series B investors included Coinbase Ventures, Jump Crypto, Andreessen Horowitz’s a16z, Circle Ventures, Binance Labs and O’Leary Ventures, among other investment funds and partners, with the new capital valuing the company at over $2 billion.
Sui’s native asset is called SUI and we generally use the capitalized version of SUI to distinguish the token from the Sui platform. The total supply of SUI is capped at 10,000,000,000 (i.e. ten billion tokens)
Total tokens 100% 10,000,000,000 Investors 14% 1 400 000 000 Valuation (VC price) $336mil 0.24 Min valuation $336mil 0.0335
According to this analysis, we can see the price around 24 cents at the start of the Mainnet. More info about the tokenomics you can find on the links below ⬇️
https://github.com/MystenLabs/sui/blob/main/doc/paper/tokenomics.pdf
https://medium.com/mysten-labs/announcing-sui-tokenomics-9cb829086e30
https://sui.io/resources-tokenomics/sui-token-allocation/
The Community Reserve, managed by the Sui Foundation, owns more than half of all SUI tokens and they will be used across a variety of community programs.
In addition to the Sui Foundation’s efforts, Sui community members will be able to purchase the SUI token in the early stages of Sui Mainnet.
The Community Access Program will let Sui enthusiasts obtain SUI directly without having to participate in the Foundation’s programs. These tokens will also support community members who have interacted with and tested Sui Apps to help improve Sui’s ecosystem during the devnet and testnet phases.
Importantly, the Sui Foundation will make the reward and distribution of SUI tokens to Sui’s early community members a topmost priority. For Sui friends who are already spreading knowledge about Sui, onboarding developers onto Sui, and testing and helping refine the product experience of Sui’s current applications, know that the Sui Foundation is here for you.
As was stated in the previous paragraph - this is a way to provide value for blockchain. If you made it this far throw the article — you probably touched some of the links on your way. However, I’ll copy some with them with the pinned points so it will be easier to navigate.
https://sui.io/resources-sui/community-access-program/
On this page, you can find all the info about Token Community Access. This is TL&DR
https://suifoundation.org/#grants - grants for devs (from $10k to $100k in rewards)
https://suifoundation.org/decentralization/#suidelegation - rewards for delegators (with money provided to become a delegator)
Ambassador program (not launched yet)
Educational program (not launched yet)
Talking about additional activities - Sui testnet Faze 1 was completed not long ago but now it is time to wait for the Testnet Faze 2 announcement.
What to do now? Check this ⬇️
The Sui Foundation will spend the coming weeks working together with the community to ensure this program delivers on its goals. In the meantime, drop a line on our Discord channels, apply for a developer grant, and keep learning about Sui.
I think that now we have a chance to contribute to the project in the faze of not mass adopted ecosystem that is still early in the building process. Before the crowd comes on the ambassador programs and announcements — we are here to build!
Sui is one of the most promising blockchains in the upcoming market. Seeing Aptos going crazy right now we can prepare to see something similar with Sui. However, because they came from one team of specialists — we can see the fight between them for the best projects on their blockchain.
The project is interesting by its TPS, a new programming language that is Dev-friendly and scalability.
It is probably one of the best projects to invest your time and effort in this state of the market!
Hope this article was helpful to you. Subscribe to my Twitter to get more in-depth crypto analysis! Follow for more guides and research 💬
If you are willing to support my creative journey - you can support me by collecting the entry below. Note that your subscription is the best support for me 🖤
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