The Sui mainnet will be officially launched on May 3, 2023.
What is Sui?
Sui is the first permissionless layer 1 blockchain designed from the ground up to enable creators and developers to build experiences that satisfy the next billion users in web3. Sui is horizontally scalable and can support a wide range of application development at unparalleled speed and low cost.
The Sui Foundation announced that there are as many as 340,000 accounts that qualify for "Recognition Sale". However, after excluding unqualified accounts (robots, duplicate IDs), there are 180,000 accounts that finally submitted applications, and it is expected that 96,000 whitelist qualifications will be randomly selected from them, and the winners will be notified by email at 11 a.m. on April 21.
Recently, many people are concerned about SUI's IEO! Token sales will be launched on 3 exchanges: kucoin, okx, Bybit_Official. If you are interested, you can read the exchange announcements. They are very clear! The more complicated thing is the SUI whitelist issue. Here I will give you an in-depth analysis:
SUI new cost issue
1. Studio start-up cost:
Studio accounts are all in large quantities, starting with a few thousand or tens of thousands of levels. Only with enough accounts can you ensure the winning rate when playing new games. The current market price of CL (CoinLast) and DC (Discord) is 30U to 60U depending on the KYC level. No wait! And there is a risk of losing your signature and having your account blocked!
2. US account cost:
Building new requires residential-level static IP. Currently, IPFoxy static residential-level IP costs 12U per month. SUI has started testing network interaction in the first half of last year. 10,000 accounts need to guarantee a fixed monthly IP cost. 10,000 X 12U = 12U per month. The cost of maintaining an account of 10,000 U! You must pay for this, otherwise you will run the risk of having your account banned. Anyone who knows this should understand! (If there are channels, IPFoxy static may be cheaper)
3. SUI task completion:
The SUI interaction process is a test network and there is no real GAS fee cost. However, in order to become a qualified whitelist account, each account must complete the interaction projects issued by the SUI official website. Before the whitelist is released, SUI can interact with more than 10 tasks, and 10,000 accounts need to be completed simultaneously. (You can imagine the workload involved here). If one of them is missing, it may affect the progress of new issuance. This daily list requires DC account activity. Everyone needs to be active in the official DC group every month. If you do not speak within one month, you will be kicked out of DC and lose your whitelist qualification.
4. SUI winning rate:
The winning rate is the threshold set by the project party for retail investors based on the number of participants and the popularity of the project! Not all accounts can complete the interaction 100%. The normal winning rate in Coinlist does not exceed 5%. There are 750,000 DC accounts in this round, and there are only 180,000 qualified accounts. Then 96,000 accounts are screened out to become whitelist accounts. ! (There are some accounts in the community that lose their whitelist qualifications if they fill in the wrong information. You must be careful in this step and check it several times)
5. Studio operating costs:
Maintaining a large number of accounts is not a task that can be completed by one person. Hardware, software, labor, and time all have high costs!
Hardware: computers, broadband, servers, etc.
Software: VPN, fixed IP, professional plug-ins, etc.
Labor: 10,000 accounts, at least 50 people need to be hired for long-term management, each employee manages 200 accounts
Rent: Rent is also part of the cost!
Time: It has been nearly a year since SUI officially started testing the network in the first half of 2022.
To sum up, although the white list has a new price of 0.03, a single player can calculate it according to this calculation, but batch new production requires more costs. The normal studio new production cost is about 0.5U! But studios also have to make a profit, and studios are usually sold at a premium! In fact, large studios sell SUI whitelists at prices ranging from 0.72U to 1.26U. (This price will increase as SUI comes online!)
Let’s talk about SUI’s IEO on major platforms this time. The difference between SUI and OKX, Bybit, and Kucoin’s IEO this time is that after the number of winning tickets is confirmed for the first time, users can only unlock 1/13 of the new coins that day, and the remaining 1/13 will be unlocked at the same time every month, and all will be unlocked within one year.
This means that most of the value of the initial chip distribution of Sui was captured by CEX users. For example, holders of platform currency captured part of the value of the initial distribution of Sui Token.
Another way to obtain SUI is through the whitelist, which is a one-time unlock without locking the position!
About the price prediction after SUI goes online!
Sui is often compared to Aptos because both projects were founded by former Facebook employees. Due to the failure of Facebook's blockchain project, team members left to start their own businesses. With capital support, they developed two blockchains, Sui and Aptos. While Aptos definitely deserves praise, Sui is considered a premium version.
From the beginning, Aptos has achieved extremely high valuations. The company currently has a full circulation valuation of US$12 billion and a circulation market capitalization of US$2 billion. Do you see the opportunity?
SUI has generated a lot of hype and attention in the market. APT has been worth billions of dollars since its inception, which means that at such a high valuation, any investment is highly profitable.
As expected: the price of SUI will not be lower than 2U after it goes online!
Finally: A kind reminder, there must be many scammers in the market eyeing this wave of SUI opportunities. If you are looking for SUI quotas at super low prices, you should be careful (it is likely to be a scam). It is best to have one hand for money and one hand for goods. SUI can be transferred to coins at the end of the month! It will be launched on major exchanges in early May!
