Binance, the world’s leading cryptocurrency exchange, has announced the launch of the 33rd project on its Launchpool platform – Sui (SUI). This DPoS layer 1 blockchain is based on Move programming language and is set to become the newest addition to Binance’s impressive portfolio of blockchain projects.
Users can start staking their BNB and TUSD into separate pools for SUI token farming over a two-day period, which will begin on May 1st, 2023, at 00:00 (UTC). The SUI token will be listed on Binance once it meets the liquidity requirement, and trading will be opened with SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs.
In this article, we will discuss everything you need to know about Sui (SUI) on Binance Launchpool. We’ll go over the token’s specifications, farming details, launch dates, and more.
SUI Launchpool Details
Sui (SUI) is a DPoS layer 1 blockchain that uses Move programming language. It has a total token supply of 10,000,000,000 SUI, with 528,273,717 SUI tokens in initial circulation, which is equivalent to 5.28% of the total token supply.
The Launchpool token rewards for Sui (SUI) are set at 40,000,000 (0.4% of the total token supply). The staking terms have no upper limit, and KYC is required.
There are two supported pools for SUI token farming:
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Stake BNB (webpage will be available in around 4 hours): 32,000,000 SUI in rewards (80%)
-
Stake TUSD (webpage will be available in around 4 hours): 8,000,000 SUI in rewards (20%)
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Farming Period: 2023-05-01 00:00 (UTC) to 2023-05-02 23:59 (UTC).
The farming period will run from May 1st, 2023, at 00:00 (UTC) to May 2nd, 2023, at 23:59 (UTC).
SUI Farming Distribution
During the farming period, SUI tokens will be distributed as follows:
| Dates | Total Daily Rewards (SUI) | BNB Pool Daily Rewards (SUI) | TUSD Pool Daily Rewards (SUI) |
|---|---|---|---|
| 2023-05-01 – 2023-05-02 | 20,000,000.00 | 16,000,000.00 | 4,000,000.00 |
Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated hourly. Users can accumulate their rewards and claim them directly to their spot accounts at any time.
SUi Supported Projects
Sui (SUI) is committed to developing an ecosystem of decentralized applications on its blockchain. To achieve this, it has partnered with several projects, including:
- Web3 Foundation
- Moonbeam
- Chainlink
- OpenZeppelin
- DAO Maker
- Figment Networks
SUI Launchpool Farming Period and Token Distribution
The farming period for the SUI Launchpool is from 2023-05-01 00:00 (UTC) to 2023-05-02 23:59 (UTC).
The total daily rewards for the farming period are 20,000,000 SUI.
The BNB pool daily rewards are 16,000,000 SUI, while the TUSD pool daily rewards are 4,000,000 SUI.
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 will be able to 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.
SUI Trading Pairs
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 exact date and timing will be announced once available.
Users will enjoy zero maker fees on the SUI/TUSD trading pair until further notice.
Conclusion
UI Launchpool on Binance is an exciting opportunity for investors to participate in the growth of the Suvereno ecosystem. With the support of a leading cryptocurrency exchange like Binance, Suvereno has the potential to reach new heights in terms of adoption and innovation.
Investors who participate in the Launchpool will not only have the chance to earn rewards in the form of SUI tokens, but they will also be supporting the development of a cutting-edge blockchain project. With its unique approach to privacy and decentralization, Suvereno is well-positioned to make a significant impact in the world of blockchain technology.
Overall, the SUI Launchpool is a great opportunity for those who are interested in investing in emerging blockchain projects and who want to support the development of innovative technologies. By participating in the Launchpool, investors can help drive the growth and adoption of Suvereno while earning rewards for their contributions.