Sui Network Airdrop: Exciting Opportunity For Early Participants

April 5, 2023 - Around 7 mins mins to read

Key Points:

Sui Network is having opportunities to help users own SUI tokens if they join early.
The SUI allocation will allot a total of 20% of the supply to early donors.
Sui Network promises to have a lot of potential for development.

According to the announcement of the token distribution plan from the Sui Foundation, there is a 6% for user airdrop reward. This makes the community look forward to an airdrop when joining the network early. Let’s learn with Coincu how to join Sui Network for a chance to receive an airdrop.

What is Sui Network?

Sui Network is a layer 1 permissionless PoS blockchain that seeks to deliver quick settlement and fast throughput while allowing a wide variety of extreme next-generation decentralized applications. Flexible, yet sensitive to latency. It enables developers to design Web3 projects that will cater to the anticipated large number of Web3 consumers.

Sui Network is a Monolithic smart contract platform with great performance. A monolithic blockchain, in particular, is a blockchain that manages all functions and occupations on a single network. Sui Network is scalable up to several hundred thousand TPS (transactions per second), with block times ranging from 2 to 3 seconds.

Sui’s scalability is not like that of Solana or Internet Computer (it spans vertically), but it is comparable to that of Ethereum 2.0. (horizontal expansion). Sui Network’s mission is to grow Web3’s ecosystem by offering an infrastructure with the correct incentives for developers to design and deploy apps rapidly.

Sui Network is funded by Mysten Labs, a Web3 infrastructure firm created by former Meta’s Novi Research personnel. It comprises cryptography, programming language, and distributed system expertise.

Web3 is now in a dial-up era, according to Evan Cheng, the Mysten Co-Founder and CEO, where procedures are sluggish, costly, unsafe, and difficult to design. Sui Network was founded with the objective of removing intermediaries and enabling people to effortlessly connect and engage with their favorite items across applications.

Airdrop potential

The Sui Foundation has officially declared its SUI token distribution strategy for the future. As a result, the group intends to distribute SUI to network operators, users, and owners. SUI is regarded as the ecosystem’s beating heart, serving a range of functions like staking, gas charge payment, liquidity provision, and network governance.

Early users of the platform will be given preference, with the following breakdown:

50% goes to the community reserve money
20% for early project contributors;
14% for investors;
10% for the Mysten Labs Treasury project team;
6% for network participation and community programming – this might be seen as a user airdrop incentive.

Sui Network Airdrop: Exciting Opportunity For Early Participants

Join Sui early

Don’t worry if you missed the latest Arbitrum airdrop.

The SUI token, which has a total supply of 10 billion tokens, is the native token of the Sui platform and fulfills four key functions: gas fees, staking, governance, and as an underlying asset of the Sui economy.

The SUI allocation will allot a total of 20% of the supply to early donors. The company has also said that distributing and awarding SUI tokens to the Sui Network community would be a primary goal.

Sui will also include a Community Access Program, which will reward supporters who assist in testing Sui Applications and promoting the platform. Sui’s token distribution will also benefit people who are currently disseminating Sui information, enrolling developers, and testing and improving its use.

Receive Testnet Tokens

Sui Wallet is a browser plugin that you may install and use. Click “Sui Wallet browser extension” on their documentation page here. A new Chrome online shop window will open; click “Add to Chrome.” Following that, choose “Create a New Wallet.” You will be prompted to establish a password and store your recovery phrase. After you’ve stored your recovery phrase, check the box next to “I saved my recovery phrase” and then click “Open Sui Wallet.”

Click “Request Devnet Sui Tokens” in your Sui wallet (see above for instructions on how to install a Sui wallet). Then you’ll get 0.05 SUI. To get more SUI devnet tokens, click the three lines in the upper right-hand corner of the wallet, then choose “Request Devnet SUI Tokens.”

You may also request devnet tokens using Discord‘s devnet-faucet channel. All instructions may be found here.

You may also request extra Testnet SUI tokens using Discord’s devnet-faucet channel. Join the Sui Discord and go to the “testnet-faucet” group. Then, using the command! faucet “your wallet address,” you may request extra SUI tokens.

Stake and Earn SUI

In your Sui wallet, choose “Stake & Earn SUI.” Choose a validator, stake the desired amount, and click “Stake Now.” SUI may be unstaked and withdrawn from the same page.

In August 2022, an SUI token airdrop was held for Sui’s Testnet Wave 1 and Wave 2 validators. There is a chance of a third testnet “wave.” This, however, has not yet been formally revealed.

Meanwhile, you may follow Sui Network on Twitter to find out when and if another testnet wave is planned.

Mint Sui Capys NFT

Connect your Sui wallet at https://capy.art/. Next, click “My Collection” and then “Capys.” Choose “Get a free Capy” and then click “Approve” on the Sui Wallet. You can only mint two Capys. You may then breed or sell your Capys.

You may boost your chances of obtaining an SUI airdrop by visiting the Clutchy Gaming and NFT marketplace platforms. On the “Games” page, Clutchy provides a diverse assortment of games, such as board games, shooters, and puzzles.

Register Sui Name Service (SuiNS) Domain

Go to your Sui wallet’s “Apps” page, then choose “Sui Name Service” (SuiNS). This will redirect you to https://suins.io/, where you may search for names. You may also register a name ending in.sui or.move by choosing “Register Name.” You must authorize the transaction twice after linking your Sui wallet.

Conclusion

There are various elements to consider while analyzing an airdrop. Then, consider the chance that the project will ever conduct an airdrop in the first place. The project’s token allocation for airdrop campaigns, as well as the difficulty of participating in their airdrop, are then examined.

It is also critical to consider the token’s usefulness so that there is actual use and purpose in participating in the airdrop in the first place. Lastly, while assessing an airdrop, examine if the airdropped tokens are subject to a lockup term.

When it comes to airdrops, consistency is everything. You must be active on-chain, keep up with the developments, and repeat the processes on a weekly/monthly basis.

Participating in the Sui Network airdrop, on the other hand, seems to be rather straightforward since it simply takes interacting with the platform’s wallet or minting Capy NFTs. The Sui Network airdrop offers early donors an exciting chance to obtain a percentage of the platform’s total supply of SUI tokens.

Sui Network seems to have a lot of promise, and many blockchain enthusiasts appear to like its technical characteristics, development techniques, and ambitions. It’s also true that Sui will have to fight strongly with other blockchains and constantly expand its ecosystem if it wants to acquire traction.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Knowledge

Sui Network Airdrop: Exciting Opportunity For Early Participants

Key Points:

Sui Network is having opportunities to help users own SUI tokens if they join early.
The SUI allocation will allot a total of 20% of the supply to early donors.
Sui Network promises to have a lot of potential for development.

According to the announcement of the token distribution plan from the Sui Foundation, there is a 6% for user airdrop reward. This makes the community look forward to an airdrop when joining the network early. Let’s learn with Coincu how to join Sui Network for a chance to receive an airdrop.

What is Sui Network?

Sui Network is funded by Mysten Labs, a Web3 infrastructure firm created by former Meta’s Novi Research personnel. It comprises cryptography, programming language, and distributed system expertise.