According to the official announcement, the public chain project Sui has been finalized and will launch its mainnet on May 3. As for the native token SUI sold through cryptocurrency exchanges in advance, it will also be unlocked during the launch of the main network.
The Sui project team has repeatedly emphasized in the past that SUI tokens “will not be airdropped”, and confirmed on April 15 that they will be sold in the form of “Initial Exchange Offering (IEO)”.
In this regard, OKX , KuCoin and ByBit have also successively announced that they will sell SUI tokens. The basic subscription price of the public sale is “1 SUI = 0.1 USD”, and users who meet the Sui Foundation contributor whitelist will be eligible to participate in the “Recognition Sale Sale)”, you can pre-order at a discounted price of as low as $0.03.
The latest announcement shows that Sui has stopped accepting subscription applications for Recognition Sale. Theoretically, there are as many as 340,000 accounts, but after eliminating unqualified accounts (robots, duplicate IDs), 180,000 accounts finally submitted applications , it is estimated that 96,000 users will be randomly selected to allocate white list qualifications, and the winners will be notified successively from April 20.
Sui is a high-performance Layer 1 blockchain that adopts a PoS consensus mechanism. The development team is Mysten Labs, and Aptos, another public chain project, uses the Move programming language created by Meta (formerly Facebook) to drive applications on the blockchain. .
According to reports, the fixed supply of SUI tokens reaches 10 billion pieces, a part of the total supply will be released when the main network is launched, and the remaining tokens will be distributed as equity reward subsidies in the next few years. The application scenarios of tokens include: network pledge , transaction fees, storage fees, governance voting, and as a trading tool for Sui’s native assets.
