SUI will unlock $1 Billion worth of SUI💰 tokens on May 3rd, 2024

Avoid buying this coin for next few weeks as holders who will have their tokens unlocked will likely liquidate their holdings. #Safe #Sui $SUI

According to official figures released by Sui, its Quest 3 initiative has seen immense player participation. Quest 3 emphasized gaming projects, encouraging players to engage with nine different projects during the month up to the deadline of November 9, 2023. Compared to Quest 1, which had a smaller scope and was also game-focused, Quest 2 brought DeFi applications on the Sui platform to the fore.

During Quest 3, standalone games like Panzerdogs and Arcade Champion attracted hundreds of thousands, and in some cases, millions of players. Sui maintained a consistent service during this period with a 100% uptime, and gas costs remained stable despite the intensively high demand.

Notably, Arcade Champion, a fighting game developed by Bluejay Games, drew in over 248,000 players during Quest 3. Daily NFT transactions in Arcade Champion exceeded the 1 million mark, peaking at 1.9 million.

Similarly, Lucky Kat Studios' Panzerdogs saw over 300,000 new accounts created during Quest 3, reaching a total of 1.5 million player-vs-player games. The game's daily average user count surpassed 30,000.

The Collection, another offering featured in Sui's Quest 3 initiative, managed to register 53,559 unique wallets, create 42,930 pieces of art, and saw 19,068 pieces of art submitted during the campaign.

Sui released an article describing all the basics of Sui tokenomics. Here is a summary of the main details from this review:

— Sui, like many other L1 blockchains, has three main types of users: ordinary users who make transactions, users who delegate their coins, as well as validators who process transactions.

— The Sui blockchain has a proof-of-stake algorithm.

— The $SUI token will have such applications as staking, payment for transactions, the ability to vote in the DAO for holders.

— In order to participate in the DAO voting, token holders will need to block it in the staking in order to obtain the power of the vote.



#Sui #CryptonResearchBot

The exponential growth of crypto has brought to the forefront two significant names in the industry: Solana and Sui. With the recent expansion of Solend, a prominent lending protocol on Solana, towards the Sui blockchain, the crypto world is facing an impressive evolution. This movement not only emphasizes the versatility and robustness of these blockchains, but also opens up new avenues for the future of decentralized finance (DeFi).

Pioneering DeFi: from Solana to new horizons in the crypto industry

A giant on Solana explores innovative grounds

Solend has redefined the concept of lending on Solana, with over $130 million in total value locked (TVL) and over 170,000 users. Their decision to expand onto Sui represents not only a strategic move, but also a recognition of Sui’s potential in the DeFi field. This step marks a turning point for Solend, introducing their influential business model onto a new blockchain, with new possibilities for growth and innovation.

The search for excellence and diversification on Sui

The integration of Solend into Sui is not only an extension of its scope but also an adaptation to the needs and peculiarities of this new platform. Sui, with its unique architecture and emphasis on security and efficiency, provides Solend with a fertile ground to explore new horizons in the DeFi sector. The collaboration with Sui paves the way for a deeper interaction between users and the crypto world, simplifying access to and use of DeFi services.

On the blockchain: a new frontier for DeFi

Security and innovation: Sui’s strengths

The Sui blockchain stands out for its security features, thanks to the use of the Move programming language. This technology not only guarantees the protection of smart contracts, but also supports parallel processing for transactions, ensuring low latency and horizontal scalability. Sui has impressed the industry by reaching a peak throughput of 297,000 TPS and a finality time of about 480 milliseconds, an unprecedented result in the blockchain world.

Accessibility and ease of use: the keys to Sui’s success in the crypto world

One of the most relevant features of Sui is its ability to make the DeFi ecosystem accessible to a wider audience. Sui’s zkLogin functionality eliminates the need for new users to manage wallets and seed phrases, greatly simplifying entry into the DeFi world. This aspect, combined with the high-quality performance of the network, makes Sui an ideal platform for the development of innovative and user-friendly DeFi applications.

The impact of Solend’s expansion on DeFi

A synergy that promises growth and innovation for cryptocurrencies

The integration of Solend into Sui is not only a step forward for these two entities, but also a catalyst for the entire DeFi sector. This move could encourage other DeFi platforms on Solana to explore new blockchains, thus increasing the diversification and resilience of the DeFi ecosystem.

The vision of Solend and Sui: a bright future for the two crypto projects

With their experience and innovation, Solend and Sui are positioning themselves as leaders in the DeFi sector. The goal is clear: to create a safer, more efficient, and accessible DeFi environment. As Solend continues to grow on Sui, the DeFi sector is preparing for a new era of expansion and opportunities.

Conclusion

The expansion of Solend from Solana to Sui is not only significant news for these two platforms, but also an indicator of the direction in which the DeFi world is moving. With the integration of innovative technologies and a focus on security and accessibility, Solend and Sui are pioneering the way towards a more integrated and accessible DeFi future for everyone.

With its ability to center people over platforms, blockchain can reinvent the internet. Self-custody offers individuals the ability to control and manage their assets and data. Onchain transactions support peer-to-peer exchanges between builders and customers. Together, these qualities can shift the digital world from one based on value extraction, where centralized entities control data and distribution for profit, to one based on value creation, where creators and users maintain control for their own benefit. 

Many blockchains attempted to serve this vision, but suffered from poor network fundamentals and limited functionality. Sui's next generation approach focuses on human-centered products while offering the speed, stability, and cost-effectiveness the wider world has come to expect from network computing.

A shift in power

For well over a decade, users, creators, and startups have been taking control over the value they create. In 2009, Kickstarter launched to help individuals, and eventually small companies, crowdfund their creative projects, allowing them to tap into their community for financial support rather than relying on traditional out-of-reach sources of investment. Patreon and Substack similarly allow people to monetize the followings they created on social media, allowing those with relatively small but engaged audiences to produce work independently and profitably. Although the shift toward direct engagement has been a boon for many, these centralized platforms still control most of the rules of that engagement and may end up serving investors over their users. 

Blockchain has the ability to push control even further into the hands of builders and creators. Decentralized finance (DeFi) allows anyone to access banking-like infrastructure, even without the participation of actual banks. Decentralized Autonomous Organizations (DAOs) offer communities the ability to manage their business and development through collective rule-making. And NFTs let artists and creators sell their work directly to their audience and earn royalties on secondary sales. In each case, smart contracts, designed by the builders themselves, replace centralized entities as the rule makers for how assets are traded, transferred, and managed. 

But even with these improvements, the experience for builders has not been equal on all blockchains.

Increased creativity and control with Sui

The advent of smart contract platforms, particularly the launch of Ethereum in 2014, was an important moment in the move towards decentralized value creation and ownership. However, those chains’ storage structures were not ideal; assets were stored and managed by the smart contract rather than onchain. This limitation hamstrung builders from pushing the boundaries of what was possible, both creatively and economically.

Sui was designed from the ground up to improve upon those earlier chains, offering the most powerful infrastructure on which to build next generation apps, products, and services. From the beginning, it natively incorporated key features that unlock the power of direct ownership and peer-to-peer value transfer without the friction and headaches of older blockchain interfaces.

Composable and dynamic NFTs

For true innovation, technology must be capable of realizing a builder’s creative vision. Move, the programming language on Sui, is extremely expressive, offering builders the ability to go beyond static fungible and non-fungible tokens, opening up use cases, such as gaming, commerce, and social media, that faltered on other chains.

Sui’s object-oriented data model means that every user-level asset is programmable. Its distinct attributes are stored onchain and can be updated based on the governing logic of the smart contract that created it. As long as the original builder has permitted it, objects can own other objects, combining to make something wholly new without losing the original metadata. For example, a game could sell digital cat avatars and accessories such as collars, that when combined become a new collar-wearing cat avatar. But, because this combined object can be created without destroying the original objects, as happens on other chains, the original collar can be removed from the avatar and sold to someone else. Objects can also evolve over time (often called dynamic NFTs) based on different programmed triggers, both onchain and off. For example, an artist can develop a digital art piece that changes with the local weather using an oracle. These programming abilities allow for significant creative control on the part of the builder.

Policies and rules set through Kiosk

Of course, most builders also want to control how their creation is used and monetized. The Sui primitive Kiosk allows people to determine the transfer and trade policies for assets they create as well as set up shops to display and sell them. These policies include royalties, which cannot be skirted by third-party sellers. In addition, any asset using Kiosk will automatically be listed on any generally available Kiosk-capable marketplace, immediately increasing distribution without subverting the terms placed by the builder.

Teams building something creative and looking to grow on Sui should check out SUMM3R on Sui, an NFT growth program poised to take your startup to the next level.