Original article: "7 O'Clock Capital: Understanding SUI and its ecosystem in one article"
Author: 7 O'Clock
introduction
With the launch of stealth and a large number of airdrops by Aptos in October 2022, the new public chain ecosystem has once again been surging with people. The Sui public chain, which is based on Move but has not yet been launched, has been directly overwhelmed by Discord, and faucets have been frequently maintained, and has once again been pushed to the forefront.
Aptos and Sui originated from Facebook's Diem blockchain project. Between 2019 and 2022, Facebook was building its own decentralized payment system. Although it failed later, it left behind the Move language. Four of the co-founders independently established Mysten Labs and started building Sui.
Mysten Labs modified the Move language to create the special Sui Move, and created Sui on top of it.
Sui is the first fully permissionless Layer 1 blockchain, featuring security and speed. It enables parallel transactions and does not require consensus when the interaction is simple enough, but uses a simpler and faster settlement method, thus bringing huge possibilities to finance, digital commerce and games.
With Evan Chang as CEO, Sui's founders include Adeniyi Abiodun (COO), Sam Blackshear (CTO), and George Danezis (CSO). The team has 3 years of experience working on high-level crypto projects, such as the Diem blockchain, cryptographic proof of solvency, the latest high-performance consensus/execution strategies, and Move programming language development.
Sui's team Mysten Labs announced in December 2021 that it had completed a $36 million Series A financing round, led by a16z and participated by Coinbase Ventures. In August 22, it completed a $300 million Series B financing round, with investors including a16z crypto, Jump Crypto, Binance Labs, Coinbase Ventures, etc.
Table of contents
What is Move language and Sui's Move? The operating principle of Sui. The difference between Sui and Aptos. The development and ecological situation of Sui. 1. What is Move language and Sui's Move? What is Move language?
Move was developed to serve the Diem blockchain and build a global financial and monetary infrastructure. Therefore, Move must be able to encode the various assets and business logic that make up the financial infrastructure. This also creates the positioning of the Move programming language: secure, modular digital asset display, management, and conversion.
1. Security
In the design of languages such as Solidity, assets are a numerical value, and asset transfers are completed by adding/subtracting in the wallet rather than actually moving the assets, which makes it easy for vulnerabilities to occur.
Move's solution is to treat all custom assets (such as tokens) as a resource, store them in a module (similar to a smart contract), and the resources cannot be copied or deleted, but can only be moved and stored. The resources are transparent within the module, but opaque to calls outside the module. In other words, Move separates the assets and changes the ownership by moving them, which is why it is named Move.
On top of this, Move has a built-in bytecode verifier, and the contract code must be verified before it can be executed; at the same time, Move Prover allows developers to write a formal specification for the key correctness properties of the application, and then use Prover to check whether these properties apply to all possible transactions and inputs, so that the first review can be performed before the code is released.
2. Modularity
Because all contracts are modules, Move is inherently modular. Assets are stored in modules, and contracts interact by passing assets (Solidity, etc., through interfaces). To update a contract, you only need to update the module, and all contracts that have used the module will automatically update to the latest version.
Aptos and Sui are both based on the Move language, but Sui does not use the Move language directly. Instead, it makes modifications based on Move.
Sui's Move
Based on Sui's white paper, the biggest difference between Sui Move and Move lies in global storage and Key capabilities. Simply put, the storage is not in Move, but on Sui's own chain, giving each programmable object a globally unique ID, while optimizing efficient storage and rapid mobilization of data.
There are 5 main differences
Resources are not deployed in Move, but are stored globally in Sui in an object-centric manner. Addresses no longer represent user accounts, but represent object IDs. Sui objects have key capabilities, which are globally unique IDs that include IDs and version numbers. Sui has a module initializer (init) to help modules deploy quickly. Sui entry points take object references as input.
In summary, Sui takes advantage of the safety and flexibility of Move and makes changes to storage that greatly improve throughput, reduce finalization latency, and make Move programming easier.
The Move language has accumulated the security of Sui. Now, let us take a deeper look at the working principle of Sui and explore why it can greatly improve the speed.
2. How Sui works
Sui's TPS can reach 120,000. The reason for its high speed is based on its classification of transactions and consensus system: simple transactions use simple consensus, and complex transactions use a full set of consensus. At the same time, the consensus layer separates the transmission of information and consensus execution to complete parallel transactions.
Sui's Architecture
Let me briefly talk about Sui's architecture. As a distributed ledger, Sui's architecture has three components: Object, Transaction, and Validator.
1. Object
As the basic unit of storage, each object has a globally unique ID. Each object is owned by an address, and each address can have any number of objects. They are classified into owned objects (owned by an address), shared objects (shared by multiple people), and immutable objects (available to anyone).
2. Transaction
The ledger is updated by sending transactions from address to address. A transaction can create, destroy, and write objects (such as tokens), and can also transfer them to other addresses.
3. Validator
Through Byzantine consensus broadcasting and parallel execution of transactions, once we have an object, we can transfer the address of the object through transactions, that is, asset interaction, and verify it through nodes.
So how does Sui execute transactions and the consensus system on a technical level?
Sui's Classification of Transactions
Sui uses DPoS for consensus proof, and each transaction is verified separately, rather than waiting for multiple transactions to be bound together like traditional blocks. That is to say, the transaction is verified immediately after the client initiates it, so there is no need to wait. At the same time, transactions are divided into two categories, simple transactions and complex contracts, and transactions are executed in different ways to achieve high efficiency and speed.
1. Simple transaction: Byzantine consensus broadcast
Many times, on-chain transactions do not have complex dependencies. For example, when transferring funds, you only need to update the owner of the funds. In this case, the transaction can skip consensus and only use an algorithm based on Byzantine consensus broadcasting.
Transaction process:
The transaction initiator broadcasts a transaction to all Sui validators
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Each Sui validator will vote individually on the transaction, with voting weight based on the amount staked
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The initiator collects the majority votes into a certificate and broadcasts it to all Sui validators, completing the transaction and determining finality.
2. Complex contracts: Narwhal and Bullshark consensus launched
Complex smart contracts are usually shared objects, so more than one user can initiate changes to them. Therefore, two consensuses are required to complete the transaction, which involves the consensus protocols Narwhal and Bullshark designed by Sui (Bullshark replaced Tusk in August 22).
Transaction Process
The transaction initiator broadcasts a transaction to all Sui validators
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Each Sui validator will vote individually on the transaction, with voting weight based on the amount staked
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The initiator collects the majority votes into a certificate and broadcasts it to all Sui validators, but the certificate needs to complete consensus through the Byzantine agreement
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Once the transaction is successfully ordered, the initiator broadcasts the certificate to the validator again to settle the transaction
Consensus of Sui
Sui's consensus is DPoS, implemented by the DAG-based Byzantine fault-tolerant Narwhal and Bullshark (Tusk), which allows Sui to process transactions in parallel and reach consensus quickly.
The order of traditional blockchain is linear, that is, T1 links T2 links T3 until Tn, so transactions must be completed one by one, which is slow. Sui solves parallel transactions by introducing DAG.
In traditional BTF (Byzantine Fault Tolerance) consensus, data propagation and consensus are achieved simultaneously: in a normal leadership protocol, a leader node issues a proposal and broadcasts its proposal, then puts the collected votes into a certificate and broadcasts the certificate to prove that the transaction is complete.
Based on this design, only the leader node has the heaviest workload, and other nodes only need to vote. However, since the leader is randomly generated, each node requires a large amount of computing power reserves, which ultimately leads to a waste of network computing power.
The key to solving this problem is mempool. If data propagation and consensus protocol can be separated in the pool, the memory pool solves data propagation, and the consensus protocol ends data consensus, then the speed will be greatly improved. Sui's design is exactly like this: Narwhal is the mempool layer, Bullshark is the consensus layer, and they work separately.
Let’s analyze in detail how DAG and Narwhal and Bullshark (Tusk) operate.
1. Blockchain sequence: DAG
DAG is a directed acyclic graph consisting of points and edges. There may be multiple routes from one point to another, but the routes cannot form a closed loop.
Traditional blockchain networks are linear, and each block must wait for the previous one to be processed before the next one can be verified, and all nodes must save all ledgers. However, DAG does not use blocks as units, and each transaction is a point on the chain, stored and authenticated by different nodes. There is no leader, so each node processes its own transaction, realizing parallel message processing.
In this way, the relationship between transactions is not a total order, but a causal order, which only depends on which transaction it comes from and which exchange it is used by. This greatly increases Sui's processing speed and enables parallel transaction processing.
If DAG has no leader, how do we confirm consensus? This requires Narwhal and Bullshark.
2. Blockchain consensus: Narwhal and Bullshark (Tusk)
Simply put, based on the DAG design, Narwhal splits the information of the mempool, completes data availability, allows information to be transmitted faster, and then sends it to Bullshark for consensus confirmation.
3. Specific operation mode
Narwhal's mempool runs in each node and consists of countless workers and a primary (which can be understood as workers and contractors). Each worker will receive transactions from the client, bundle all transactions together and broadcast them to the workers with the same sequence number on other nodes, and send the digest to the primary. In this step, a lot of redundant information is transmitted between worker projects. The job of the pimary is to collect digests of each small unit from different workers and establish a round-robin DAG mempool.
These digests are block headers, which are collected together to form metadata. The primary then communicates the block header information with the primary of other nodes, and can quickly complete the consensus of the first vote to collect certificates.
Protocol Labs
Based on the DAG design, each transaction generation and consensus propagation is divided into rounds. All nodes on the Sui chain will be connected to 12+1 genesis blocks and start the first round of verification process. The information received by each node is not necessarily consistent, which is the biggest difference of non-linear blockchain. As long as the node receives the transaction, the primary will broadcast the information to the primary in all nodes, get votes (if this is the first block header you see published by the validator in this round, you can vote), and form a certificate. Each node is broadcasting information at the same time to obtain votes from other nodes, so transaction confirmation is executed in parallel.
The example in the above figure is r1 (round 1), and our perspective is the local information graph of node 1. We can see that transactions are generated in 3 example genesis blocks, and the first block header node appears. The first block header broadcasts information to the following three nodes and gets 2 votes. As long as f nodes vote, they can get the certificate, and then the certificate is broadcast to all nodes, and the nodes store it, completing the first consensus.
Except for node 1, nodes 2 to n are all doing the same thing at the same time, so connecting each round of transmission will get DAG.
Now that Narwhal has sorted out the mempool data and reached a consensus on the content, the next step is to pass the information to Bullshark to complete the consensus execution. Before August 22, Bullshark was formerly known as Tusk, so let's learn about how Tusk works below and consider Bullshark to be an upgraded version of Tusk.
Tusk is a zero-information asynchronous consensus protocol that can obtain the order of all transactions and complete the sorting consensus just by looking at the DAG model.
First, because DAG has no leader, Tusk needs to randomly find a leader for the round as a fixed point and confirm all transactions and nodes connected to the leader. Therefore, a coin is randomly generated in each odd round, and the node of the previous r-2 rounds is randomly appointed as the leader. After finding the node, see how many nodes in the r-1 round have verified it and connected to it. If there are f+1 nodes connected to it, then it is a leader. If the conditions are not met, skip this round and find the leader of the next odd node until the round leader that meets the conditions appears.
In the above figure, we can see that the leader L1 in the first round did not get the majority of votes (only 1 node was connected), so it was skipped until the qualified L2 appeared. After it appeared, Tusk began to backtrack to ensure that L2 could connect to the previous leader, and then all the blocks previously connected to L2 were confirmed.
Tusk repeatedly found a leader and finalized the transaction order, and Sui's blockchain started running. Based on such a consensus system, Sui completed parallel transactions, separated data from consensus, and completed the construction of block technology.
Sui’s Token Economics
At present, the official has not given the specific token distribution, but only released some basic information.
1、Token
The public chain's token is SUI, with a total of 10 billion, and has four uses: PoS staking, paying gas fees, liquid assets for different applications, and governance.
In Sui's economy, there are three roles: users, holders, and verification nodes. Users submit transactions and interact with smart contracts and applications. Holders entrust tokens to verification nodes and governance, and nodes are responsible for processing and executing transactions.
2、Gas fee
Compared to Ethereum's fluctuating gas fee, Sui's gas fee is much more stable. At the beginning of each epoch, all nodes will participate in setting a reference price, and subsequent transactions can use this reference price for determination.
3. Pledge to become a node
Sui uses Delegated Proof-of-Stake. In each epoch, a fixed group of nodes will verify the system. Participants in mining can stake their tokens to become nodes, or authorize their tokens to be staked by nodes. Sui’s total PoS stake is the sum of all token stakes and storage fund.
Storage Fund: Storage Fund is a storage fee paid by users when they pay gas fee. It is accumulated in epochs and used to pay for the cost of storing user data in verification nodes. At the same time, in order to encourage users to reduce the proportion of online storage, if users delete content, they will get a fee refund. As part of the staking pool, Storage Fund shares the revenue. Its main purpose is to balance the incentives for future nodes to store content.
Visualization of Sui Token Economic Chart 3. The Difference Between Sui and Aptos
As the native public chains of the Move language, Sui and Move have captured the attention of top investors since their launch. A16z participated in the first round of investment in the two public chains, Sui in December 21 and Aptos in March 22. Currently, Aptos is valued at over 4 billion, and Sui is valued at over 2 billion after its B round of financing.
Many people have called Aptos the Solana killer. In fact, the public chains under the Move language were originally defined as Solana killers. Since Aptos and Sui are particularly eye-catching, people always compare the two. Although Sui and Aptos were both born from the Diem project, their goals are to increase TPS, scalability and security, and they are both PoS and parallel transaction processing, but their algorithm designs are quite different.
A picture comparing Sui and Aptos Move languages: Sui is safer and easier to use
Sui has made some modifications to Move, using an object-centric model instead of an address-centric model. Transactions of assets, smart contracts, NFTs, etc. on Sui change the owner of the resource, so only one data update is required.
Aptos uses the same address-centric model as traditional blockchains. The conversion of assets requires modifying the data on the sending and receiving addresses, and the data needs to be updated twice. From this point of view, Sui is safer. At the same time, according to developer feedback, Sui's changes to Move make the Move language easier to use, and application developers get better dapp UX development support through Sui SDK, so Sui is more developer-friendly.
Different consensus: Sui is faster
Sui and Aptos both execute transactions in parallel, but their implementation methods are completely different.
Sui based on DAG divides consensus into Narwhal and Bullshark. At the same time, the consensus of causal order can quickly determine the consensus of most transactions, so TPS can be theoretically unlimited.
Aptos separates each step of verification and runs them in parallel. The latest version of DiemBFT V4 consensus is used on the consensus side, and parallel execution is supervised by Block-STM. The steps are as shown in the figure below.
Aptos transactions will be bundled together by verification nodes, timestamped, and continuously sent to each other to obtain votes from other nodes and metadata. Then, transaction consensus confirmation will be performed based on DiemBFT V4.
DiemBFT V4 is based on Hotstuff's BFT consensus. Each round of voting will have a leader who is responsible for proposing a consensus block and a proposed timestamp, and the validators vote on it. Since all validators communicate with a leader, the total number of messages sent is much less than the communication between validators.
When the time is confirmed, the blockchain without duplicate data and conflicts can be executed in parallel by any node. In this link, the task of Block-STM is to find conflicts in these ordered transactions and ensure that the blocks are executed according to the time consensus. Therefore, the consensus process of Aptos is closer to the traditional blockchain architecture.
Scalability: Sui is more applicable
Sui's horizontal expansion capability depends on the number of online nodes and hardware requirements. We see that Sui's hardware requirements are much lower than Aptos, and the more nodes there are, the lower the gas fee, which means that Sui's potential TPS is unlimited.
As for Aptos, the official TPS is 160,000, and the test network has reached 4,000. However, the TPS has fluctuated around 10 since the main network was launched. This is related to the hasty launch of the main network. Both the team and the ecological project may not be fully prepared.
We don’t yet know whether Sui’s TPS can reach the official speed, but based on current technology, it should theoretically be faster than Aptos.
If Aptos is the Solana killer, then to a certain extent, Sui’s technology exists to suppress Aptos.
4. Sui's Development and Ecological Situation Sui's Development Situation
Compared to Aptos, which is also a Move system, Sui's development speed is much slower. Devnet was launched in June 2022, and 4 nodes operated by Mysten Labs supported developers in testing. Testnet Wave 1 was carried out from November to early December 2022, which was the first wave of the test network. Hundreds of people were selected from 28,000 applicants in August to run Sui validators and full nodes, including 20 validators and 500 nodes.
In more than a month, Sui completed five key tests
Genesis: Successfully conducted the genesis ceremony with validators to bring Sui online. Monitoring: Established global monitoring to observe consensus health, network health, throughput, and resource usage. Communication: Created Discord for communication. Mitigation: Practiced the process of detecting, diagnosing, and mitigating network incidents. Updates: Rolled out three different software updates to mitigate issues that arose. All operators were able to update to the new version with no downtime or data loss.
On the data side
Transactions processed: ~22 million Number of NFTs on-chain: ~11 million Number of packages released: ~2,600 Number of tokens distributed by the faucet: 251 billion Number of requests served by the MIST faucet: 4.19 million
Testnet Wave2 is expected to be launched in early 2023, focusing on epoch management, token economy, and staking delegation. More information will be released in the future.
Testnet Roadmap Sui Foundation
Sui Foundaiton is specially built to support Sui's ecosystem. It operates independently of Sui but belongs to the official organization.
Official website: https://suifoundation.org/
Currently, Sui Foundation has launched six ecological programs, mainly focusing on accelerating different ecological participants and organizations, among which three are the priority.
1、Developer Grant Program
The developer grant amount is 10,000-100,000 US dollars, and projects that meet the requirements may also receive SUI Token incentives. Currently, the following categories of projects are supported:
Review and governance, commerce and digital goods, data and law, developer tools, finance, games, payments, efficiency, social, tokenization.
2、SUI Delegation Program
The delegation program was established by community members who want to contribute to the Sui ecosystem but do not have the resources and funds. The details of the program are still being planned, but the purpose is to allow community members to apply for delegation of SUI Tokens from the Sui Foundation and pledge them to the community's verification nodes.
3、Community Access Program
The latest community access program launched in December 22 is a response to the community’s strong desire to hold SUI Tokens. Updated details will be released in the coming weeks, but the purpose is twofold.
Maximize geographic coverage Fair participation rights, decentralize SUI distribution, and ensure participation of early Sui contributors and supporters
At the same time, according to the content of the plan, the launch of the Sui public chain should be within one year. Based on the original text "The official Mainnet launch is still a few months ahead of us", it may be launched within 6 months.
Sui's Ecological Project
Since the first phase of the test network has just ended, there are relatively few projects for users to participate in. There are 18 Sui partners and about 60 ecological projects, but the development speed is very slow and most of them are very early. Just take a brief look at the projects in each track.
Source: Sui Global 1. Wallet
In the wallet section, there are currently three highly active projects. Sui Wallet is the official wallet, and Suiet and Ethos are third-party wallets.
Sui Wallet
Official website: https://docs.sui.io/explore/wallet-browser
Sui Wallet is the official wallet that can not only conduct transactions, but also directly mint NFTs, explore the application of Sui, and receive water. It was first tested for Sui developers and is currently the wallet with the highest recognition on the test network.
Sweet
Official website: https://suiet.app/
Key highlights
Support biometric function Mint NFT function Support full open source and audit Personal data ownership, each sub-wallet has a set of mnemonics Subsequent support for mobile terminals Support wallet suites used by developers, compatible with all wallet interactions in the Sui ecosystem
As Sui’s wallet, it focuses on open source and privacy, and claims that it will never track user behavior or collect data. Its functions are roughly the same as Sui Wallet, and it is currently the third-party wallet with the most dapp links.
Ethos Wallet
Official website: https://ethoswallet.xyz/
Key highlights
Dashboard interface, more convenient to find different DAPP applications Browser page, supports connecting to different wallets in Sui ecosystem, and displays the latest NFT projects, DeFi projects and games
Sui partner wallet is focused on facilitating users to explore the Sui ecosystem. It has a built-in web version for easy browsing of dApps. Although it was established later than Suiet, it has a friendly UX and is rapidly building connections with dApps.
2. Domain Name
SuiNS
Official website: https://app.suins.io/
It is a domain name system of Sui ecosystem, allowing users to build their on-chain identities on Sui, and has cooperated with multiple wallets in Sui ecosystem and other ecosystems, such as Bittkep, Martian, Fewcha, Suiet, Morphis and Ethos wallets. It is currently in the alpha version. According to data disclosed on the official website, there are 321,400 registered domain names and 268,800 connected wallets.
Sui Name Service (SuiNS) completed its pre-seed round of financing, with Mysten Labs participating in the investment.
3、DeFi
MoveEX
Official website: https://www.movex.exchange/
MoveEX is the first DEX on Sui and is currently in the Devnet testing phase. The project claims to have ILO (Initial Liquidity Offerig) and smart liquidity distribution, and currently users can participate in the test by getting water from the faucet.
Key highlights
Hybrid liquidity trading, built-in settlement engine, and allocating orders between AMM and order book to reduce slippage. ILO's first liquidity issuance, by setting the token sales time period, price range and auction algorithm to maximize fundraising opportunities, and automatically establish a trading pair liquidity pool with the native assets for the raised stablecoins. Intelligent liquidity configuration, automatically adjust liquidity for LP
Suiswap
Official website: https://suiswap.app/
The Swap within the Sui chain has a clean UI and simple operations. It is positioned as the unified trading infrastructure of Sui. Currently, users can get funds for testing on the official website.
Key highlights
Liquidity holding additional profit rewards Support open source development toolkit 4. NFT
Keepsake
Official website: https://keepsake.gg/
It is a future-oriented NFT market ecosystem built for game developers, gamers, creators and their communities. It allows game SDK integration for seamless playback and listing of assets directly from within the game. In addition, each Keepsake NFT can be converted into physical assets such as collectibles, figurines, plush toys, etc.
Key highlights
Built-in Launchpad section, announces NFTs to be pre-sold and NFTs already released, etc. The market supports a variety of NFTs, including artworks, game NFTs, domain names, land, etc., and also supports auction functions. Obtained Grant from Sui Foundation
Sui Punk
Official website: https://suipunks.xyz/
Sui Punk is a Sui imitation of Crypto Punk, and claims to be Sui's first NFT series, with a total of 2992. It will be launched on Ethereum (X2Y2) at the end of August 2022, positioned as Sui's OG, and will be airdropped to the Sui public chain after the mainnet is launched.
Capy
Official website: http://Capy.art
Based on Sui's Object function, Sui developed Capy Bear. Users can test Sui public chain's Object ownership, transaction and other performance by purchasing, trading and dressing up Capy Bear.
Users can receive two Capy bears for free and hatch them. The second-generation bears will inherit the characteristics of their parents, and users can continue to hatch and test them.
5、DID
Change
Official website: https://suia.io/
Suia is a decentralized identity POAP (proof of presence) project on Sui. It is currently being tested on Devnet. Users can not only publish their own POAP on the project homepage for others to mint, but also receive other people's POAP by simply linking their wallet.
Key highlights
Users can create POAP events at will, and complete the creation and distribution. Users have ownership of assets.
ComingChat
Official website: https://coming.chat/
ComingChat is a SocialFi project based on Aptos and Sui chain. Its functions include account system (CID) + payment tool (wallet) + social (encrypted chat + DAO circle of friends).
Key highlights
Communication: The chat module is divided into three modes: private chat, encrypted group chat, and non-encrypted group chat. Chat and encrypted group chat use the signal protocol. CID (Customer Identification Code): It consists of 1 to 12 digits, which is easy to read, decentralized, and compatible. It allows individuals or organizations to own, manage, and control digital identities and data. Wallet: Private keys are stored in the user's own account, and it supports cross-chain and convenient entry to multiple Dapps. Trading: It is the mobile portal of OmniBTC. Users can exchange native assets on two different chains with one click without using a cross-chain bridge. In addition, it supports one-click mortgage of multiple assets and borrowing of multiple stablecoins on any chain
Supports red envelope function, Twitter-style dynamic list, and supports purchase of NFT fragments
7. Infrastructure
Dappium
Official website: https://dappium.io/
It helps developers and Web3 entrepreneurs to create development conveniently and quickly, supports API and SDK access, realizes automatic development, creation and deployment of smart contracts, and provides relevant legal currency, NFT market, creation of Token, legal currency and hybrid models, etc.
Key highlights
Supports generating and minting NFTs, creating in-game NFT markets, and uploading asset files and metadata via zip files. Token economics, staking, lottery, etc., wallet integration with custody and fiat-friendly options Supports Solidity and Rust covering most mainnets Developed by the team at the Avalanche Hackathon and has been audited by Certik and Hacken.
It’s like that
Official website: https://www.shinami.com/
Shinami is Sui's API and node service provider for developers. The node service allows developers to build production-ready applications on Sui without running and maintaining nodes. It requires creating a Shinami account and using it through an account key. Currently, you need to join the waiting list to use it.
Key highlights
0 maintenance, saving the cost and time of managing and maintaining nodes by building unique applications. Automatic scaling ensures scalability and data accuracy when running on multiple nodes. Applications run 24/7/365 24/7 8. Launchpad
SuiPad
Official website: https://suipad.xyz/
The first IDO and INO platform on Sui, and also an incubator, is positioned with selected projects, flexible whitelists, and fair levels. It aims to bring Sui's next blue chip stock and is not yet officially launched.
Divided into 6 levels: Ruby, Sapphire, Emerald, Diamond, Crown, Sui
Level Amount Allocation Ruby $2,500 Lottery-based Sapphire $5,000 Guaranteed Emerald $10,000 Guaranteed Diamond $30,000 Guaranteed Crown $50,000 Guaranteed Sui $100,000 Guaranteed
Key highlights
Liquidity fundraising, promises security to early investors Help build business models and token economics
Summarize
After 7 O’Clock Capital conducted a series of investigations and learned about its technology, it believes that Sui is currently in its early stages of development, is not particularly impressive, and its ecosystem projects are relatively rough.
One reason is that Sui has many similarities with Aptos (click here to review the Aptos article), so when we look at Sui again, there is no sense of surprise.
Secondly, Sui is developing relatively slowly, while Aptos has been sprinting. Its ecosystem is relatively complete, and the leading projects in various tracks have developed to a certain scale. Even the main network was launched very quickly. In comparison, Sui's development at this stage is much weaker.
Thirdly, Sui’s team does not have frequent PR and does not make a lot of statements about “banning” a certain public chain. It is much more low-key than Aptos and the hype is not as strong.
But it also reflects that Sui's team is more pursuing stability. After all, after Aptos went online, the main network TPS was only about 10, which was far from the publicity. At present, the best way to participate in Sui is to register as a node, participate in the testnet test, and pay attention to new projects. Sui officials often actively promote online projects, such as using Capy NFT to show the public the technology and functions of the public chain, and provide development ideas and possibilities for other applications.
In short, we estimate that Sui will be 4-10 months away from the mainnet launch. By then, the market environment and the degree of perfection of the ecosystem will be different. 7 O’Clock Capital will pay attention to it with you!