Sui, a new layer-1 blockchain using a modified version of the Move programming language, is set to launch todaz, with its native token SUI already garnering significant attention from crypto enthusiasts. The blockchain has a token cap of 10 billion, with a portion of the total supply of SUI becoming liquid at the mainnet launch, while the rest will become available over time or distributed as stake rewards.
🌊 Mainnet officially launches this Wednesday at 12:00 PM UTC. Get ready. pic.twitter.com/EBVF9kmCX2
— Sui (@SuiNetwork) April 30, 2023
SUI will be used to pay gas fees for transactions, staking, and as part of the network’s governance process. Half of the token supply is allocated to the Community Reserve, which is managed by the Sui Foundation. The remaining tokens are mostly for those who contributed to the project, with 14% allocated to investors, and Sui community members also being able to purchase SUI token in the early stages of Sui Mainnet.
A number of smaller exchanges such as BitForex, DigiFinex, HotBit, and SuperEx have already allowed customers to purchase IOU versions of the token. Meanwhile, major exchanges such as Binance, OKX, KuCoin, and ByBit have all announced support for SUI, although American citizens and residents are ineligible to receive SUI.
— Bybit (@Bybit_Official) May 2, 2023
Binance will offer users the opportunity to farm SUI via its Launcpool DeFi platform before listing SUI when its liquidity meets requirements. OKX’s Jumpstart platform will allow users to participate in a token allocation lottery, and KuCoin will provide immediate access to SUI for investors, with only the SUI/USDT trading pair available at launch. Bybit has already held a recognition sale for the token, and spot trading will be available for retail traders with SUI/USDT and SUI/USDC pairs from tomorrow.