BTSE will add the Sui (SUI) token onto its platform on August 9, 2023, adding to its users’ selection of quality digital assets. Additionally, SUI will be listed on BTSE’s wider ecosystem of 10+ white label crypto exchanges, enabling better liquidity and pricing. Users will be able to trade Sui via the SUI/USDT and SUI/USDC trading pairs.
1. Deposits enabled: 4:00 PM (Singapore Time) on August 9, 2023 (supported networks: SUI)
2. Trading enabled: 4:00 PM (Singapore Time) on August 10, 2023
3. Withdrawals enabled: 11:00 PM (Singapore Time) on August 11, 2023
Introducing Sui – Building Powerful On-Chain Assets
In Sui’s intriguing approach to data storage, the typical account-based framework utilized in most other blockchains is replaced by the concept of objects. These are not mere placeholders but versatile, programmable entities that encapsulate user-level assets. Developers wield the power to sculpt, birth, and govern these objects, giving them life and function.
Each object possesses a set of unique and distinct characteristics, such as ownership, that aren’t static but evolve and adapt. Their values can transform, guided by the intellectual elegance of the governing logic within the smart contract that breathed life into them. This gives rise to a dynamic, living ecosystem, unlike anything seen in conventional blockchain technology.
The Sui Token
The Sui Token, SUI, is the native asset of the Sui Smart Contracts Platform, a groundbreaking, environmentally friendly, and highly efficient permissionless blockchain designed to serve billions of users across a spectrum of Web3 applications.
The SUI token’s multifaceted role is at the heart of the Sui economy. Capped at ten billion tokens, SUI’s purposes include being staked in a delegated proof-of-stake mechanism, paying gas fees, acting as a versatile and liquid underpinning asset, and providing rights to participate in on-chain voting for governance.
The economic model integrates unique features like a special gas pricing mechanism, a sustainable storage fund to handle on-chain data, and on-chain voting for protocol upgrades. Sui’s inventive design, combining cutting-edge advancements in distributed systems, cryptography, and programming languages, aims to align incentives across various entities within the ecosystem, creating a flourishing economy tailored to meet the massive requirements of the next generation of Web3 users.
What Do Traders See in Sui?
The tokenomics of the Sui Token (SUI) could be particularly attractive to cryptocurrency traders due to its innovative economic design and multifunctional role within the ecosystem. The delegated proof-of-stake mechanism allows SUI token holders to actively participate in transaction processing, and the unique gas pricing mechanism is aimed at providing users with low, predictable transaction fees, potentially enhancing liquidity and usage.
Additionally, Sui’s storage fund ensures an efficient and sustainable economic structure for on-chain data, while on-chain voting empowers token holders in governance decisions. Combined with its environmentally-friendly platform and scalability that aligns with the future requirements of Web3 applications, the tokenomics of SUI present a comprehensive and well-rounded economic model that may lure traders looking for dynamic and sustainable investment opportunities in the cryptocurrency space.
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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.