A journey of a thousand miles begins with a single step
Suterusu 2020 Q1 Operation Report
Since 2020, the sudden outbreak of COVID-19 has had a significant impact on the global economy. Affected by liquidity in the global financial markets, the Cryptocurrencies market has also been heavily hit.
The Suterusu pushes forward unwaveringly on project development as initially planned, and has started the ecological construction on a global scale. Expanding the community scale, which allows Suterusu to come out loud as a dark horse pick in the market.
1. Precise positioning and in-depth exploration of privacy protection advantages
The original ZK-conSNARK is just the beginning for Suterusu to enter the industry. At the same time, the application model of providing privacy protection for mainstream blockchain and DeFi products is our ticket to mass growth.
Suterusu’s intelligent contract provides distinguished privacy protection for blockchain transactions and data. This position is exactly the precise positioning proposed by Suterusu for project function based on profound insight into industry development, and deep excavation of the original technology application value.
Suterusu’s original zK-ConSNARK, is safe, without a trusted preset, and is faster in optimizing the size of ZKP. Suterusu can provide privacy protection for mainstream blockchains, such as BTC, ETH, and DeFi products.
2. Functional applications and ecological construction have begun
By adopting the “functional application strategy”, with the primary application mode of supporting the mainstream blockchain, we will realize the privacy protection function.
Suterusu has struck a number of partnerships, including:
- Public Blockchains: Neo, IOST, Theta, and Harmony, who will build the privacy protection infrastructure via Layer 2.
- In terms of DeFi, Suterusu will enter into strategic cooperation with STPT and SWFT to conduct cooperation in the aspect of assets on-chain, namely, interchain payments.
- For dAPPS, Basic Attention Token (BAT), which has the largest user base in the world, with 10 million monthly active users, is conducting research on zero-knowledge identification with Suterusu.
3. The operation mode is established based on three large-scale scenarios
Use-cases of the SUTER token:
- Governance: Suter token is a stake in the Suterusu community and also serves as a basis for sophisticated governance mechanisms, such as liquid decentralized meritocracy, and quadratic voting.
- Gas Fee: A client of Suter network who uses our anonymous payment service, will purchase Suter tokens to pay for the gas that executes the privacy-preserving function.
- Service Fee: The Suter virtual machine will provide more sophisticated privacy-preserving technical modules based on ZK-conSNARK, such as private proof-of-stake, anonymous identification, etc. The clients can purchase these services with the Suter token.
4. Team Expansion
Professor Zhenfu Cao is an internationally renowned mathematician and cryptographer. His research interests include number theory, cryptography, and information security. Professor Cao is the first cryptographer in China that published works on class-group based cryptography. He has devoted much of his time recently to promote the application of cryptography in the blockchain sphere. Our partnership with Professor Cao will greatly strengthen our ties with the academic world, and upgrade the innovation engine of the Suterusu project to a new level.
Richard Liu is the founder of Betterbit Fund and has been a partner of FBG, who has a deep understanding of technological innovation, application trends in the blockchain industry, as well as innovative business investments.
Liam Robertson is the CEO of Alphabit Digital Currency Fund CEO, which specializes in investments in blockchain and distributed ledger technology projects and is one of the world’s first regulated digital asset investment funds.
Addison Huegel is the Founder and CEO of BlockGroup, which is a comprehensive cryptocurrency fund known for its global view and marketing experience. They have vast service experience with Ethereum, Binance, Zilliqa, Kyber Network, and Pelin, and also have substantial cooperation with top media worldwide such as Forbes, Nasdaq, and Coindesk.
5. Fund reinvestment and long term view
BTX Capital invested in Suterusu’s secondary market, claiming 30 M SUTER, and applied for a Suterusu Validator Node. BTX Capital is a leading crypto investment bank that aims to provide professional advisory services across the blockchain spectrum. They assist Ankr, Cortex, Arpa, Skycoin, and others.
CGS Dubai invested in Suterusu’s secondary market, claiming 40 M SUTER, and applied for a Suterusu Validator Node. CGS Dubai consists of a group of Investors and Blockchain entrepreneurs bringing in extraordinary expertise from Distributed Ledger Blockchain solutions such as Security Token Offerings (STO), enterprise blockchains, token creation, and Cryptocurrency Strategies & Education.
Curve Capital invested in Suterusu’s secondary market, claiming 43 M SUTER, and applied for a Suterusu Validator Node. Curve capital is headquartered in Cayman and is a hedge fund focusing on real estate and cryptocurrency. At present, Curve Capital invested in Zcash, Dash and Suterusu.
Betterbit and Blockgroup also invested in the secondary markets of Suterusu, claiming 10,000,000, and 23,000,000 SUTER.
6. International community growth
7.Exchange cooperations, better liquidity for SUTER
The listing on Kucoin, Hotbit, and Bitribe exchanges have helped immensely, posting an average daily trading volume of 1.56 M USDT in March, nearly three times the volume of February.
8. Innovative Staking : High participation / high-reward
By March 30, SUTER has total emission of 1008.8 M, which means a total of 743.0 M SUTER have been emissioned by staking, while 265.8 M SUTER has been unlocked from the nominator nodes. At the same time, there are 868.68 M SUTER staked, and the actual SUTER in circulation is around 140.16M. Staking participation rates of SUTER reached 86%, which plays a good role in ensuring the security of the Suterusu network.
From January 1 to March 30, 2020, there are 30 validator nodes around the world participating in Suterusu Staking and are rewarded with 152 M SUTER, which means the actual average reward was about 18% in three months. All validator nodes pledged 1,541,800 SUTER in total, and the real average reward rate was 36%; All delegators delegated a total of 7.135 M SUTER as collateral, with an actual reward rate of 14.4%.
9. SuterDAO, the pioneer of “Voting is Mining.”
The decentralized consensus is the core appeal of blockchain networks. Decentralized operations are the common aspiration of the Suterusu community. SuterDAO is the first step from Suterusu to carry out community self-governance, which expresses its opinions on specific issues of an operation via voting and sharing rewards. All awards are provided by the foundation, which fully embodies the foundation’s determination and action to support community self-governance.
Node voting and Nominator node unlocks have been discussed.
10. Suterusu Validator Node Competition
In order to further expand the community scale and promote community consensus, a Validator Node competition was launched. The foundation provided 2 M SUTER every day for 30 consecutive days, totaling 60 million.
Suterusu’s active operational activities and growing community consensus have been approved by the market. On March 30, CryptoDiffer, a famous internationally crypto-asset information website, published its weekly ranking in term of price growth, SUTER is ranked fourth globally with a weekly gain of 43.6%. Meanwhile, the market value of SUTER reached $ 6.831 M, entering the top 300 of the current market.
Soon, there are even more bright spots for Suterusu to look forward to. First, the Testnet will be launched in early April, which is a huge step forward. Suter Trade, which has already been previewed, is upcoming soon. Suterusu community will welcome new partners to join us in the next month. Who are they? We can’t wait for you to find out!
