Friends, Sui has risen again this morning. At present, the wealth effect brought by SUI has also made its on-chain ecology active. Many community members have begun to shift their attention to early projects on Sui and MEME coins. Today, I will explain the Sui project to you!
1. Project Introduction
Sui is a permissionless, layer-1 blockchain designed from the ground up to enable creators and developers to build experiences that cater to the next billion users in Web3. Sui is horizontally scalable to support a broad range of application development at unparalleled speed and low cost.
Tags: Infrastructure, Layer1
Founded: 2022
Location: Taiwan, China, United States
2. Team members
The three main members of the team are:
1. Evan Cheng: CEO and co-founder of Mysten Labs. He worked at Apple from 2005 to 2015, joined Facebook in November 2015, and was responsible for the research and development of the Meta crypto wallet in June 2018.
2. Adeniyi Abiodun: Co-founder and CPO of Mysten Labs. He served as product manager of Meta Novi from August 2019 to November 2021. Prior to that, he worked for VMware, Oracle, PeerNova, HSBC, JPMorgan Chase, etc.
3. Sam Blackshear: Co-founder and CTO of Mysten Labs, former chief engineer of Novi, founder of Move, known as the "Father of the Move Programming Language". During his tenure at Facebook, he was mainly responsible for static analysis and did programming language research in the early stages of his career.
3. Financing
1. December 6, 2021: Sui completes $36 million Series A financing
2. September 8, 2022: Sui completes $300 million Series B financing, with a valuation of $2 billion
Tokens
SUI is now quoted at $3.74, up 21.3% in one hour, and the trading volume in the past 24 hours is US$2,250,581,599, up 16.90% from a day ago, indicating that the recent market activity has increased. The highest price in history is $3.89, while the lowest price is $3.648. The total market value of SUI is $10.6 billion, and the increase in the past 24 hours is 14.3%.
5. Token Economic Model
The native token of the Sui blockchain is called SUI, which can be used to:
Paying gas fees for transactions
Staking and compensating validators to secure the network
Supporting Sui's storage fund
Sui Network’s governance process
The maximum supply of the SUI cryptocurrency is 10 billion tokens. 50% of the SUI token supply will be allocated to the community reserve, which will be managed by the Sui Foundation and will provide grants, fund R&D, subsidize validators, etc. Here are the SUI token distribution rules:
Community reserve: 50%
Early Contributors: 20%
Investors: 14%
Mysten Labs Treasury: 10%
Community access programs and application testers: 6%
VI. Conclusion
SUI surged this morning. Friends, do you think it will rise further?
