Binance has announced its 33rd project on Binance Launchpool – Sui (SUI). Sui is a DPoS layer 1 blockchain based on move programming language. The announcement states that the webpage will be available in around 4 hours, before the Launchpool starts.

Users will be able to stake their BNB and TUSD into separate pools to farm SUI tokens over 2 days, with farming starting from 2023-05-01 00:00 (UTC). The SUI token rewards for the Launchpool are 40,000,000 (0.4% of the total token supply). The initial circulating supply of SUI is 528,273,717 (5.28% of the total token supply), and the total token supply is 10,000,000,000 SUI.

Binance will list SUI when its liquidity meets the requirement and open trading with SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs. The exchange will announce the exact date and timing once it is available. Furthermore, users will enjoy zero maker fees on the SUI/TUSD trading pair until further notice.

The SUI farming period will start from 2023-05-01 00:00 (UTC) to 2023-05-02 23:59 (UTC). Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour. Users can accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time. Each pool’s annual percentage yield (APY) and total pool balance will be updated in real-time.

Tokens can only be staked in one pool at a time, and users can unstake their funds at any time with no delay and participate in any other available pools immediately. Tokens staked in each pool and also any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.

It is worth noting that Sui has already been announced to be available on OKX, Bybit, and Kucoin exchanges. With the launch on Binance, Sui is expected to gain more exposure and reach a wider audience in the crypto community.

In summary, the launch of Sui on Binance Launchpool is an exciting opportunity for users to farm SUI tokens over 2 days. Binance’s decision to list SUI on its exchange is a testament to the project’s potential and could pave the way for Sui’s wider adoption in the crypto market.

Source: https://azcoinnews.com/binance-launches-33rd-project-on-launchpool-get-ready-to-farm-sui-tokens.html