Tag: Sui blockchain

  • Sui ($SUI) token airdrop guide: How to join the Community Access Program

    Sui ($SUI) token airdrop guide: How to join the Community Access Program

    Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. In this guide will we provide the best strategy to earn the most from any potential SUI airdrop.

    Sui is a decentralized, proof-of-stake blockchain with horizontally scalable throughput and storage. Sui aims to be a step-function advancement in blockchain technology that will allow creators and developers to build experiences for Web3 users. The project is created by former senior leaders of Facebook’s (Meta) advanced blockchain research and development organization. The team first came together to form Mysten Labs– the company behind Sui. The team is also building Move – an open-source smart contract programming language.

    Currently, Sui has deployed their “Permanent Testnet” – which means it’s the best time to generate blockchain evidence to get the airdrops. What we have learned from similar projects is that the more interactions that you do with the blockchain, the more airdrops you earn. We expect that $SUI will give “tiered” airdrops, giving out more free tokens to those who interact more with the blockchain.

    Key Summary

    • Sui is a scalable and permissionless Layer 1 blockchain created by former Meta developers.
    • SUI is the native token of Sui with four main purposes: gas fees, staking, governance, and economy.
    • There is no official SUI token airdrop yet, but the team hinted that they will reward early community members and supporters.
    • To potentially qualify for a future SUI token airdrop, users can install and use the Sui wallet, stake and earn SUI tokens, register names on SuiNS, mint and breed Capys on Capy.art, play games and mint NFTs on Clutchy.io, and explore other projects built on Sui.

    Learn more about Sui with our Sui blockchain guide: Revolutionary Scalability Solution?

    Sui ($SUI) airdrop step-by-step guide

    Here are some ways to get a potential $SUI token airdrop:

    1. Install and use the Sui Wallet
    2. Request SUI devnet tokens
    3. Stake and earn Sui
    4. Mint Sui Capys NFT
    5. Register your domain on Sui Name Service (SuiNS)
    6. Participate in Sui testnet waves
    7. Play games and get NFT test mint on Clutchy
    8. Interact with protocols in the Sui ecosystem
    9. Join the Sui Discord community
    10. Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT

    See below for more details.

    The SUI Token Community Access Program eligibility criteria has been announced! Here is how to check your eligibility to participate in the Sui Recognition Sale:

    1. Verify your Discord here before 17th April 2023 at 9:30pm PDT.
    2. If you are eligible, you will be required to fill in a form on their page.
    3. Register for the token sale on Bybit, Kucoin or OKX. Sign up for an account here: ByBit, KuCoin.

    See below for more details.

    UPDATE: Mysten Labs (the company behind Sui) will be doing an NFT airdrop! Those who are Sui Discord members before 3rd May 2023 can register here for a free SuiFrens Bullshark Generation 0 Limited Edition NFT before 17th May 2023 at 11am PDT.

    What is the Sui $SUI token?

    The SUI token is the native token of the Sui platform. SUI has a max supply of 10 billion tokens.

    SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy.

    The team has confirmed that Sui community members can purchase the SUI token during the early Sui Mainnet stage. Sui will also have a Community Access Program. This program will reward Sui supporters who have helped test Sui Apps. Rewards will also be distributed to those who help promote Sui.

    Check out our Sui blockchain guide: Revolutionary Scalability Solution?

    Will there be a Sui $SUI token airdrop?

    There is currently no $SUI token airdrop. However, the Sui team have emphasized in its blog post that they will prioritize the distribution of SUI tokens to early community members. The team also said that those who are already spreading knowledge about Sui, onboarding developers, and testing and refining its’ applications will be part of Sui’s token allocation.

    In August 2022, Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators. 2,000 SUI (subject to 1-year vesting) was distributed for participating in every testnet “wave”.

    In the latest blog post, Sui announced its SUI Token Community Access Program. Under the Community Access Program, only limited categories of early supporters will be able to obtain SUI tokens either via retrospective rewards or a recognition sale. However, there are geographical restrictions, for example US residents are not eligible to receive SUI even if they qualify under the Community Access Program.

    The blog post, however, has stated clearly that they will not be any Sui airdrops, leading to the tag #suiScam trending on Twitter. This is because many people believed that Sui would do an airdrop and have spent months interacting with the testnet.

    Sui confirms no airdrop

    How can I participate in a potential $SUI token airdrop?

    The Sui team has not officially announced how and when they will do a $SUI token airdrop. However, they had already strongly hinted that they will prioritize rewarding early community members and supporters. Here’s some ways to get a potential $SUI token airdrop:

    1. Install and use the Sui Wallet
    2. Request SUI devnet tokens
    3. Stake and earn Sui
    4. Mint Sui Capys NFT
    5. Register your domain on Sui Name Service (SuiNS)
    6. Participate in Sui testnet waves
    7. Play games and get NFT test mint on Clutchy
    8. Interact with protocols in the Sui ecosystem
    9. Join the Sui Discord community
    10. Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT

    Install and use the Sui Wallet

    Install and use the Sui Wallet browser extension. On their documentation page here, click “Sui Wallet browser extension”. A new chrome web store window will appear, then click “Add to Chrome”. Afterward, click “Create a New Wallet”. You will be asked to create a password and be asked to save your recovery phrase. Once you have saved your recovery phrase, tick “I saved my recovery phrase” and click “Open Sui Wallet”.

    Sui wallet
    Sui wallet

    Request Sui devnet tokens

    On your Sui wallet (see above on how to install a Sui wallet), click “Request Devnet Sui Tokens”. You will then receive 0.05 $SUI. To get more $SUI devnet tokens, click on the 3 lines on the top right hand corner of the wallet, then click “Request Devnet SUI Tokens”.

    You can also request devnet tokens via their devnet-faucet channel in Discord. Check here for full instructions.

    Stake and Earn Sui

    On your Sui wallet (see above on how to install a Sui wallet), click “Stake & Earn SUI”. Then select the validator you want to stake your Sui and the amount to be staked and click “Stake Now”. You can unstake and withdraw your SUI on the same page. You can also track how much $SUI you have staked and the APY on the “Coins” tab.

    Mint Sui Capys NFT

    Go to https://capy.art/ and connect your Sui wallet. Then, go to “My Collection” and “Capys”. Select “Get a free Capy” and on the Sui Wallet, click “Approve”. You can mint a maximum of 2 Capys.

    Mint a Sui NFT Capy
    Mint a Sui NFT Capy

    Afterward, you can breed or sell your Capys.

    Register your domain on Sui Name Service (SuiNS)

    On your Sui wallet, go to the “Apps” tab, then click “Sui Name Service (SuiNS). You will then be taken to https://suins.io/ where you can search for names. Choose your desired name (ending in .sui or .move) and click “Register Name”. Registering a name costs 0.001 SUI.

    You will then be asked to connect your Sui wallet, and afterward, click “Approve” (2 approvals are required) to approve the transaction.

    Register domain on Sui Name Service (SuiNS)
    Register domain on Sui Name Service (SuiNS)

    Participate in Sui testnet waves

    Sui has recently finished their Sui Testnet Wave 2. However, you can follow them on Twitter to see if and when they will do another testnet wave.

    Play games and get test mints on Clutchy

    Clutchy is a Gaming and NFT marketplace built on Sui, so using their platform may give you a better chance of getting a potential SUI airdrop. To do this, go to Clutchy.io. To play games on Clutchy, go to the “Games” tab, where you will find many games to choose from including board games, shooters, and puzzles. Meanwhile, their Launchpad will have launch test mint NFTs this week. All you need to do is to mint them using SUI tokens.

    https://twitter.com/Clutchy_io/status/1630329210869874690?s=20
    Upcoming Clutchy NFT test mints

    Interact with protocols in the Sui ecosystem

    There are numerous projects built on Sui, many of which have not released their token yet and might also do a potential airdrop! Similar to zkSync, the network itself and its ecosystem projects are all doing airdrops. Learn more with our zkSync ($ZKS) Token Airdrop Guide!

    So, there could be a chance to earn DOUBLE AIRDROP REWARDS!

    One such project being built on the Sui ecosystem is Synthr. Synthr is a synthetic asset protocol built on Sui, and they have confirmed they will do a $SYNTH token airdrop! For more details check out our Synthr ($SYNTH) token airdrop guide.

    Mint your SuiFrens Bullshark Generation 0 Limited Edition NFT

    Mysten Labs, the company behind Sui, have announced its ACES (Active Contributors & Early Supporters) Program. Those who joined the Sui Discord before 3rd May 2023 can register with their Discord account and Sui wallet before 17th May 2023 at 11am PDT: https://aces.mystenlabs.com.

    Those who are eligible will be airdropped a SuiFrens Bullshark Generation 0 Limited Edition NFT at a later date. It is unknown what the utility of the NFT will be.

    Am I eligible to receive SUI tokens in the Community Access Program?

    Sui has stated there will be no SUI airdrops. Instead, there will be a SUI Token Community Access Program which will offer retrospective rewards and a recognition sale for the following categories of Sui supporters:

    1. Capy Holidays competition winners: They will receive tokens directly based on the competition terms.
    2. Champions: Testers and moderators who attended, organized and ran events. They will get SUI tokens after the mainnet launch.
    3. Supporters: These are Sui Discord community members that joined before 1st February 2023 and offered suggestions, joined discussions, interacting with the ecosystem and helped suggest innovations. Also included are the winners of the Frenemies Competition. These people will be able to purchase SUI during a Recognition Sale.

    Those who are eligible to receive SUI tokens will be contacted directly by the team. Meanwhile, here is how to check your eligibility to participate in the Sui Recognition Sale:

    1. Verify your Discord here. You must have joined their Discord before 1st February 2023 to be eligible. Note that this verification portal will close on 17th April 2023 at 9:30pm PDT.
    2. If you are eligible, you will be required to fill in a form on their page.
    3. Register for the token sale on Bybit, Kucoin or OKX. You can sign up for an account here: ByBit, KuCoin, OKX.

    We recommend signing up with every participating exchange, especially ByBit for the Sui Recognition Sale. This is because Bybit have been allocated the largest number of tokens allocated to them for sale compared to other exchanges and likely will have the highest trading volume. Meaning it would be easier to get an allocation and faster to trade your SUI tokens before everyone else.

    You must complete the KYC requirements for the exchange you plan to buy your SUI tokens from, so it is suggested to sign up ASAP. Note that people from the United States are not eligible to participate in Sui’s Community Access Program. Also, people from the following countries are not eligible to participate in the Sui Recognition Sale, even though they may be eligible under the Community Access Program: United States, mainland China, Singapore, Quebec (Canada), Ontario (Canada), North Korea, Cuba, Iran, Ukraine, Sevastopol, Sudan, Syria, Uzbekistan, or any other jurisdictions excluded by the exchange.

    Those eligible to participate in the Community Access Program can buy up to 1,500 SUI at US$0.03 per SUI. There will not be any lockup period for the SUI tokens which will be distributed at mainnet launch on 3rd May 2023.

    SUI Recognition Sale Details

    As mentioned previously, some Sui Supporters will be eligible to participate in Sui’s Recognition Sale. These are Sui Discord community members that joined before 1st February 2023 and winners of the Frenemies Competition. The Sui Recognition Sale allows these supporters to purchase Sui at US$0.03/Sui instead of the public price of US$0.1. Only, Bybit, Kucoin or OKX will be hosting the Sui Recognition Sale, so eligible persons must sign up for an account and complete any required KYC on those exchanges.

    According to Sui, over 340k Discord accounts were eligible for the Recognition Sale. Of this, 180k accounts made submissions for the Recognition Sale (this excludes any ineligible accounts). Because there is a maximum allotment of tokens for the Recognition Sale, Sui has done a random selection of the submissions. And it is estimated that around 96k supporters will be able to actually participate in the Recognition Sale (assuming each user purchases the maximum allotment). Sui has emailed these allowlisted participants with instructions as well as the 3 exchanges.

    SUI Tokens will be distributed to successful Recognition Sale participants at the following times:

    • Kucoin: From 01:00 on 2nd May to 09:00 on 3rd May UTC.
    • Bybit: 06:00 on 3rd May UTC.
    • OKX: 06:00 on 3rd May UTC.

    All tokens will be unlocked at Sui mainnet launch on 3rd May.

    Here are the timelines for the Sui Recognition Sale for all 3 exchanges.

    Kucoin:

    Sui token sale timeline Kucoin

    Bybit:

    OKX:

    Sui token sale timeline OKX

    Sui Airdrop Review

    When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

    Likelihood of Airdrop: For now there is no airdrop, and only those who are eligible under their Community Access Program will either receive SUI or be eligible to participate in their Recognition Sale. The Recognition Sale will allow eligible users to buy SUI at a discounted price.

    Airdropped Token Allocation: 594 million $SUI tokens will be allocated towards their Community Access Program. But they will not be distributed in the form of airdrops.

    Airdrop Difficulty: Sui has not announced any airdrop, but it has said it will reward early users. Their wallet is in devnet stage and has the basic features, in addition, you can mint their Capy NFTs and register a Sui domain name. All these actions only cost SUI tokens, which can be obtained for free. This makes the difficulty quite simple and most importantly, does not involve any cost.

    Token Utility: The SUI token will have 4 main purposes: Gas fees, staking, governance, and as an underlying asset of the Sui economy. This gives $SUI holders a lot of flexibility in terms of how they can use the token.

    Token Lockup: It is speculated that any airdropped $SUI tokens will be locked until the token launch. However, there is no announcement on when this would be.

    Frequently Asked Questions (FAQs)

    What is the Sui Community Access Program?

    Sui Community Access Program is a program that rewards Sui supporters. Under the Community Access Program, only limited categories of early supporters will be able to obtain SUI tokens either via retrospective rewards or a recognition sale. However, there are geographical restrictions, for example US residents are not eligible to receive SUI even if they qualify under the Community Access Program.

    Which countries are excluded from the Community Access Program?

    People from the United States are not eligible to participate in Sui’s Community Access Program. Also, people from the following countries are not eligible to participate in the Sui Recognition Sale, even though they may be eligible under the Community Access Program: United States, mainland China, Singapore, Quebec (Canada), Ontario (Canada), North Korea, Cuba, Iran, Ukraine, Sevastopol, Sudan, Syria, Uzbekistan or any other jurisdictions excluded by OKX, Bybit or Kucoin.

    Who is eligible to join the SUI Token Community Access Program?

    The following categories of persons are eligible to join the SUI Token Community Access Program: Capy Holidays competition winners, Champions (i.e. Testers and moderators) and Supporters (Sui Discord community members that joined before 1st February 2023).

    How do I check my eligibility for the SUI Community Access Program?

    You can check your eligibility at https://verifysupporters.sui.io/

    When is the deadline for signing up for the Sui Community Access Program?

    The verification portal for the Sui Community Access Program will close on 17th April 2023 at 9:30pm PDT.

    What is the token price and lockup period for the Community Access Program?

    Those who are eligible to join the Community Access Program can purchase up to 1,500 SUI at $US0.03 per token. The tokens are not subject to any lockup period and will be distributed at mainnet launch.

    How can I join the SUI Token Recognition Sale?

    First check if you are eligible here. Note that this verification portal will close on 17th April 2023 at 9:30pm PDT. If you are eligible, you will be required to fill in a form on their page. Then, register for the token sale on Bybit, Kucoin or OKX. You can sign up for an account here: ByBit, KuCoin, OKX.

    When is the Sui mainnet launch?

    Sui has confirmed it will launch its mainnet on 3rd May 2023.

  • Sui Blockchain Guide: Token sale details announced!

    Sui Blockchain Guide: Token sale details announced!

    What is Sui?

    Sui is the world’s first permissionless Layer 1 blockchain completely designed from the ground up. They are a decentralized, proof-of-stake blockchain with horizontally scaleable throughput and storage.

    Ex-members of the Meta team came together to form Mysten Labs– the company behind Sui. They are also building Move, which is an open-source smart contract programming language.

    However, Sui is not a derivative or an add-on of the Diem network. Instead, it is a step-function advancement in blockchain technology that is designed to allow creators and developers to build experiences for web3 users.

    Who is the team behind Sui?

    Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis and Kostas Chalkias co-founded Sui. They are co-founders are former senior leaders of Facebook’s (Meta) advanced blockchain research and development organization. They were responsible for delivering some of the most advanced open source components such as the programming language, execution engine and cryptography of the Diem network.

    What are Sui’s main features?

    Sui has the following main features:

    • Sui is able to scale horizontally without any upper bounds. This enables them to meet application demand whilst maintaining extremely low operating costs per transaction.
    • The design of Sui is groundbreaking in that it eliminates a critical bottleneck in existing blockchains. In traditional blockchains, transactions (though independent of each other) are pushed into sequential blocks which creates wasteful computational power. Sui’s innovation is that they will organise data into independent objects, meaning that transactions can be executed in parallel.
    • The network is also able to scale throughput horizontally because it enables parallel agreement on causally independent transactions. They achieve this through Byzantine consistent broadcast, which eliminates the overhead caused by global consensus yet without sacrificing safety and liveness guarantees.

    Sui’s unique features mean there will be unmatched scalability and instant settlement of transactions. The platform can scale horizontally to meet the increasing demands of applications. Sui’s authorities can add workers to increase processing power in order to meet growing network capacity. The result of this would be lower gas fees even when network traffic is high, and thus better user experiences for web3 apps.

    How do users participate in Sui?

    There will be 3 types of participants: Users, token holders and Validators.

    • Users will be responsible for submitting transactions to the platform in order to create, change and transfer digital assets or interact with more complex applications.
    • Token holders have the option of delegating their tokens to validators and participating in their proof-of-work mechanism. SUI token holders also have the right to participate in Sui’s governance and decide on the future direction of the project.
    • Validators manage the processing and execution of transactions on the Sui platform.

    Who are Sui blockchain’s investors?

    Sui has so far raised US$36 million in Series A funding. Sui’s Series A funding round was led by Andreessen Horowitz’s a16z. Other participants in Sui’s funding include Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Samsung Next, Slow Ventures, Standard Crypto, NFX, and Scribble Ventures, among others.

    Mysten Labs’ Series B funding round is well underway, with Sui being valued at over US$2 billion. Mysten has recently closed a US$300 million fundraise led by FTX Ventures. Other Series B investors include Coinbase Ventures, Jump Crypto, Circle Ventures, a16z (again), Binance Labs, and O’Leary Ventures, among others.

    What is the $SUI crypto token?

    The SUI token is the native asset of the Sui platform with a total supply capped at 10,000,000 (i.e. 10 billion). A portion of SUI’s total supply will be released at the mainnet launch of the platform. The remaining tokens will be vested over the coming years or distributed as future stake reward subsidies.

    The SUI token will have 4 main purposes: Staking, gas fees, as an underlying asset of the economy, and lastly for governance. Specifically:

    • SUI can be staked in order to participate in the platform’s proof-of-work mechanism.
    • SUI is the asset used for paying gas fees required to execute and store transactions or do various operations on the platform.
    • SUI is used as an asset on the platform with all the standard features of traditional money- used as a unit of account, a medium of exchange, and a store of value. It can even have more complex functions enabled by smart contracts across the Sui platform.
    • SUI token holders have the right to participate in on-chain governance voting on various issues affecting the Sui platform such as protocol upgrades.

    What is the $SUI token allocation?

    Over 50% of $SUI tokens will be held by the Community Reserve, which will in turn be managed by the Sui Foundation. The Community Reserve intends to use the SUI tokens through various community programs. For example:

    • Delegation Program: The SUI Delegation Program will allow community members seeking to run a validator to apply for delegated $SUI tokens. This helps bootstrap community-run validators and promotes an even stake distribution across the network validators.
    • Grant Programs: $SUI tokens will be distributed directly to developers, community ambassadors and others who are building or creating educational materials for Sui.
    • Research and Development: Tokens will be allocated for the advancement of the Sui protocol.
    • Validator Subsidies: Tokens will be distributed to subsidize staking rewards.

    As for the remainder of the $SUI tokens, 20% will go to early contributors, 14% to investors, 10% to the Mysten Labs Treasury, and 6% to the Community Access Program and App testers. Click here for more details on SUI tokenomics.

    Those who are eligible under the SUI Token Community Access Program will either receive retrospective rewards or be able to participate in the Recognition Sale. There will also be a General Sale. However, these are subject to geographical restrictions.

    Will there be a $SUI token airdrop?

    Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators. Validators were rewarded with 2,000 SUI for every testnet “wave” they participated in. The airdropped tokens were subject to a 1-year vesting period. Although registration has been closed, there is a possibility of a third testnet “wave”. However, in their latest blog post, it seems that an airdrop is unlikely. Instead, Sui has announced a SUI Token Community Access Program which will distribute retrospective rewards or allow access to an earlier Recognition Sale to those who are eligible.

    Learn more about the Community Access Program and how to check your eligibility here: Sui ($SUI) token airdrop guide.

    $SUI token sale details?

    There will be 2 rounds of SUI token sale, the Recognition Sale and the General Sale. Note there are exclusions for participating in the token sales. (Klonopin)

    Sui has confirmed it will officially launch its mainnet on 3rd May 2023.

    For more details on the SUI token sales for each exchange, see here: Bybit, KuCoin, OKX.

    Sui Recognition Sale

    The Recognition Sale is only available to those whitelisted by the Sui Foundation. Those who are eligible can purchase up to 1,500 SUI from a pool for US$0.03. The tokens will be fully unlocked during the mainnet launch on 3rd May 2023.

    According to Sui, over 340k Discord accounts were eligible for the Recognition Sale, and 180k accounts made submissions. Sui randomly selected submissions, and it is estimated that around 96k supporters will be able to participate in the Recognition Sale. Sui has emailed these allowlisted participants with instructions. S

    The following exchanges will participate in the SUI Recognition Sale: ByBit, KuCoin and OKX. SUI Tokens will be distributed to successful Recognition Sale participants at the following times:

    • Kucoin: From 01:00 on 2nd May to 09:00 on 3rd May UTC
    • Bybit: 06:00 on 3rd May UTC
    • OKX: 06:00 on 3rd May UTC.

    We suggest signing up for Bybit because they have the largest number of tokens allocated for sale compared to KuCoin and OKX (94M SUI vs 25M SUI). This means you are more likely to get an allocation compared to the other 2 exchanges.

    Sign up for Bybit here:

    Sui General Sale

    General Sale participants will be able to purchase up to 10,000 SUI at US$0.10. Only KuCoin and OKX will be hosting the General Sale, and each exchange has been allocated 225m SUI for sale in this round. Here are the details for the General Sale on KuCoin and OKX:

    • KuCoin: Subscription period ends on 22nd April 2023 at 16:00:00 UTC, ticket draw will be announced on 23rd April 2023 at 13:00 UTC. Tokens will be distributed on 2nd May 2023 at 01:00:00 UTC.
    • OKX: General Sale subscription period will be from 23 April 2023 02:00 UTC to 24 April 2023 02:00 UTC. Tokens will be distributed once mainnet launches.

    SUI tokens bought during the General Sale are subject to a vesting period. 1/13 will be unlocked at the Token Generation Event (TGE). After 30 days, an additional 1/13 will be released monthly. So that all purchased tokens will be released within twelve months from the TGE date. All purchased tokens will automatically be sent to your exchange wallet.

    What is the Sui economic model?

    There are five major components of the Sui economic model:

    Sui blockchain’s economic model (Source: Medium)
    • SUI token: the platform’s native token.
    • Gas fees: all network operations on the platform require gas fees. Gas fees are rewarded to participants in the proof-of-stake mechanism. It can also be used to prevent spam and denial-of-service attacks.
    • Storage fund: This fund is used to redistribute past transaction fees to future validators. That is, users will pay fees upfront for both computation and storage. The storage fees which are collected are deposited into a fund used to adjust the future share of staking rewards. This is so that when there is a high demand for on-chain storage, validators will receive additional rewards to compensate for their costs. When demand is lower, rewards will also be adjusted accordingly. Users however will be able to save funds through a “deletion option” which allows them to delete previously-stored on-chain data. By exercising this option, users can receive a storage fund rebate.
    • Proof-of-stake mechanism: Used to select, incentivize and reward platform operators i.e. the validators and SUI delegators.
    • On-chain voting: for voting and deciding on governance and protocol upgrades.

    What is the Sui Explorer (Suiscan)?

    The Sui Explorer (known as Suiscan) was launched in August 2022 and is a trusted transparency tool for those who are using and building on Sui. The main purposes of the Sui Explorer are as follows:

    • Maintain the most updated and accurate on-chain data, activity, and metrics;
    • act as a fast, reliable, and transparent tool for debugging issues and auditing;
    • enable the lookup, verification, and tracking of assets and contracts; and
    • provide useful smart contract development and features that will be unique to Sui Move.

    Major features of Sui Explorer are as follows:

    • Sui Explorer builds on existing blockchain explorers by providing go-to-definition support for all smart contracts. Clicking on any struct will direct users to the package and defining module which improves code navigation, readability, and learnability;
    • object details are rendered recursively, thereby providing an optimized view of objects on the Sui Explorer;
    • address details are divided into (1) Coins; and (2) NFTs for convenient navigation. Users will be able to have a clear view of the assets and transactions with this address. Coins that are of the same type are also automatically aggregated. However, an expanded paginated view of the information is also available;
    • transactions will show more details such as gas fees paid, objects updated, token amount and the relevant addressing. For some transactions, additional information such as bytecode of published modules and emitted events can also be included;
    • Sui Explorer will also have a validator table and node map showing the active full nodes and their locations. The purpose of this is to provide information on Sui’s network operations as the network continues to mature.

    Suiscan is currently running on Devnet and eventually also on Testnet when it is live.

    What is the Sui Wallet?

    The Sui Wallet allows users to create addresses and view and manage their assets on the Sui network. The Sui Wallet can also interact with dApps. Similar to MetaMask, Sui Wallet will be a Google Chrome extension so users can simply access it on their Chrome browsers.

    What is the development progress of Sui?

    Sui has confirmed it will officially launch its mainnet on 3rd May 2023.

    Frequently Asked Questions (FAQs)

    When will Sui be released?

    There is no release date for the Sui platform yet.

    When is the SUI crypto token sale?

    There is currently no information on when the SUI token will be sold.

    When is the SUI ICO?

    No announcement has been made on the timing of the SUI ICO yet.

    Is Sui the same or related to Aptos?

    No, Sui and Aptos and completely different and unrelated projects. The only connection between the two projects is that both teams have previously worked in blockchain development at Facebook (Meta).

    When is the Sui mainnet launch?

    Sui has confirmed it will officially launch its mainnet on 3rd May 2023.

    Will there be a Sui token airdrop?

    There is no official announcement of a Sui token airdrop. Instead, it seems that there will be a Community Access Program which will not involve airdrops.