Sui Space-Time 1 — Coin Flip, Tokenomics FUD and Name Service
Welcome aboard the inaugural issue of “Sui Space-Time”, your warp-speed journey through the Sui universe! In this newsletter, we’re pushing the boundaries of the digital cosmos, providing a comprehensive weekly recap of Sui’s rapidly expanding ecosystem based on my daily tweets.
Our mission takes two routes: First, a deep dive into the most groundbreaking Sui projects updates and events. This is our logbook, detailing key developments on Sui.
Then, we shift to the news capsule, delivering a rapid-fire roundup of other noteworthy Sui happenings, ensuring no detail is overlooked.
Exploring Sui’s Defining Moments
The First Coin Flip Went Live on Sui
DeSuiLabs is building mini-games on Sui. They planned on launching DeSui Crash and Snake in Q3 and their coin flip dapp just went live on mainnet!
The principle of the mini-game is very simple and already exists on other blockchains. Players can flip a virtual coin and guess heads or tails. If they win they double their $SUI bet, if they loose they loose. The team charges a small fee (1%) to remunerate themselves.
The team also launched their NFT collection for free on the 28th and the floor price is already around 30 $SUI! Holders will special benefits within their ecosystem:
- 50% discount on all DeSuiLabs games
- Gamified rewards earned through staking, missions and raffles
- Free flips, spins and plays
DeSuiLabs received technical support from Mysten_Labs as well as a grant from SuiFoundation. This is one reason to be confident in the team’s ability to deliver despite the lack of revenue from free mint.
Sui Foundation answers FUD concerning the Tokenomics
DefiSquared claimed in a thread that “Sui Team” is intentionally misrepresenting emissions and there is proof that the team dumps rewards from locked and non-circulating staked $SUI.
He justifies that by:
- endless sell pressure
- CMC showing new emissions once a month
- “Sui Team” refusing to publish emissions chart
- dilution by 20% a month
- Foundation indirectly dumping 2.5M on binance
After that SuiFoundation reacted pretty quickly by stating that the emission is proceeding as planned and prev communicated, the Market Cap on CMC was never exceeded and the Foundation never sold $SUI from staking rewards, locked or non-circulating.
They also indicated that the “dump” transaction mentioned by DefiSquared was a payment subject to a contractual lockup. To end the recurring interrogations about the tokenomics, the foundation has published the token release schedule.
Sui Name Service announces new features
SuiNS vision is to design a dApp the most friendly possible, to lower Web3 barriers. They also aimed to provide a fair distribution of domain names:
- equal access for everyone (via an auction contract)
- no name squatters (reserved names)
- continuous innovation (compared to the existing)
Mid-october, SuiNS announced to have closed a pre-seed funding round with Mysten_Labs. And on the 21/03, they disclosed that Mysten acquired the name service. By doing so, Sui founders aimed to accelerate the development of stronger and safer identity standards for the community.
Early November SuiNS dApp went live on devnet and registered 170k addresses in 2 months. For months, they have established different partnerships to integrate their name service on popular dApps like Clutchy or BeLaunch. One month ago, the service was deployed on mainnet, 3400 domains were claimed since then.
Last week they announced 8 new features that will be deployed in the coming weeks.
- Day 1 NFT willgive access to bonus features
- SNS NFT customization
- discounts for discord roles
- attaching .sui name to discord id
- sub-domains
- notifications via NotifiNetwork
- more integrations
- technical improvements
Consuming the News Capsule
- Bucket protocol integrated Wormhole bridge and has been audited by MoveBit and Ottersec. It also went live on mainnet!
- Sakaya marketplace has launched on mainnet.
- Bushi got accepted into GoogleStartups
- CetusProtocol has reached $300M+ cumulative trading volume
- GilderSui released their new website
- AbyssWorld announced the alpha test phase 1 for this week
- Releap launched its Ambassador Program
- SensuiWallet will integrate blockboltpay
- Mysten_Labs distributed 380k Gen 0 Bullshark Suifrens
And there we have it — our inaugural ride through the “Sui Space-Time” is complete. We’ve seen some exciting news and charted promising new frontiers.
Remember, in the vast expanse of the Sui network, change is the only constant. So, keep your radars on for the next dispatch, where we’ll continue to decode the galaxy of opportunities in this dynamic ecosystem.
Until our next cosmic journey, keep exploring, Sui voyagers!
Find all my links on blockrunner.page and follow BL0CKRUNNER on Twitter for much more content on Sui and Web3 globally.
