Sui is a permissionless layer 1 blockchain that supports a wide range of application development with unrivaled speed, low cost, and advanced features. They have a huge ecosystem of over 85 projects built on the Sui mainnet, and most importantly, around.70-80% of them will be doing an airdrop! By following our guide to staking Sui’s $SUI tokens, you can potentially get 5 airdrops in 1! Here is our Sui ecosystem staking airdrop guide!
Check out our Sui Staking Ecosystem: 5 in 1 AIRDROP Guide!
What is Sui?
Sui is a groundbreaking Layer 1 blockchain and smart contract platform that combines the benefits of Web3 with the ease of Web2. Here are its key features:
- Object-Centric Design: Unlike most other blockchains that use accounts, Sui employs objects as its basic unit of data storage. Developers create and manage these programmable objects representing user-level assets.
- Fast and Scalable: Sui leverages the Move language and parallel transaction execution, enabling it to process transactions much faster than its competitors.
- Permissionless and Private: Sui provides permissionless access to its ecosystem, allowing developers to build without restrictions. It also prioritizes privacy and security for digital asset ownership.
- Growing Ecosystem: There are around 85 projects built on the Sui mainnet!
- Developer Resources and Grants: Sui offers a developer portal, documentation, courses, and a bug bounty program.
- Innovative Standards and Protocols: zkLogin, Display, and Kiosk enhance user-friendly, privacy-preserving, and open trading platforms on Sui.
- Web2 Service Partnerships: Integration with services like Google, GitHub, and Microsoft for on-chain accounts using existing identities and zero-knowledge proofs.
How to stake Sui for ecosystem airdrops
Here’s how to
- Get a Sui wallet
There are around 5 to 6 wallets that support Sui and its ecosystem, such as Sui’s own Sui wallet, Martian wallet, Suiet wallet and Surf wallet. We prefer to use Sui Wallet as most of the protocols we will use in this guide will only be connecting to Sui wallet.
- Fund wallet with SUI tokens
Fund your wallet with SUI tokens. We will be using 600 SUI to do these Sui ecosystem staking tasks to get the airdrops. You can buy SUI from most major exchanges such as Bybit, OKX and MEXC.
Sign up for a Bybit account here!
- Stake on Volo
Volo is Sui’s liquid staking platform that offers vSUI as staking rewards. To stake SUI on Volo, connect your wallet to https://stake.volosui.com/. Then, enter the amount you wish to stake and click “Stake”.
- Stake SUI on Haedal
Haedal is a liquid staking protocol built on Sui that allows people to stake SUI for haSUI rewards. haSUI tokens can then be used across various DeFi applications in the Sui ecosystem. To stake on Haedal, connect your wallet to https://www.haedal.xyz/stake. Then, enter the amount you wish to stake and click “Stake”. Note that Haedal have not confirmed they will do an airdrop yet, but we think there is a chance they might.
- Lend and Borrow on Scallop Protocol
Connect to https://airdrop.scallop.io/
- Complete quests on Scallop Protocol’s Zealy
Go to Scallop Protocol’s Zealy questpage and complete the quests, these include social tasks, on-chain tasks and quizzes. Here are the answers for Scallop Protocol’s Zealy quiz: B (Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem), C (250,000,000 SCA), A (Lending and borrowing Dapp), A (Kriss and Ann), A (Yes), B (Rust), D (Ottersec and Movebit), A (1st place), C (3rd place), A (True), B (Two), B (Linear static model), C (liquidation mechanism), E (Arrow Capital), C (Move (Base on rust), A (BUSD)
- BONUS: Delegate SUI to validators
Delegate your SUI tokens to validators. We will be delegating half of our SUI, i.e. 300 SUI to validators. However, we will not delegate our SUI to any exchanges because it is centralized. Instead, go for any validators that have the word “node” or “staking” in their name. We would also avoid any validators that already have a lot of SUI staked because projects may only reward those who stake with validators outside the top 20.
However, unlike Injective staking, we could not find any nodes by projects that will be doing their own airdrop. So, the purpose of staking SUI to validators here is simply to earn APR with low commission and possibly an airdrop. Note is no guarantee that projects will offer airdrops for staking because the eligibility criteria is up to each project to decide. We do however, see that it is a huge trend in the Cosmos ecosystem to offer airdrop rewards for native staking.
We delegated our SUI to Stakefish because it was the non-exchange node that offered the highest APR (3.94% APR and 2% commission). See here for a list of validators.