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Binance Announces Sui (SUI) as its 33rd Launchpool Project

Published

2 years ago

on

Binance

Binance today announces the launch of its 33rd launchpool project, Sui (SUI). Sui is basically a DPoS layer 1 blockchain based on the move programming language.

Binance users can now stake their BNB and TUSD into separate pools to farm SUI tokens over 2 days. As per the official blog post farming is expected to start from 2023-05-01 00:00 (UTC). After that Binance will list the SUI on its platform post meeting the liquidity criteria.

Binance will open trading for Sui in the SUI/BTC, SUI/USDT, SUI/TUSD and SUI/BNB trading pairs. The date and timing for Sui listing on Binance are not yet declared. Binance is also offering zero maker fees on the SUI/TUSD trading pair.

The total supply of SUI tokens is 10,000,000,000 SUI and the launchpool token reward is 40,000,000 (0.4% of the total token supply). The initial circulating supply of SUI will be 528,273,717 (5.28% of the total token supply).

Here are the details regarding the SUI farming distribution over the 2 days.

Dates (00:00:00 – 23:59:59 UTC each day)Total Daily Rewards (SUI)BNB Pool Daily Rewards (SUI)TUSD Pool Daily Rewards (SUI)
2023-05-01 – 2023-05-0220,000,000.0016,000,000.004,000,000.00

As per the official blog post, snapshots of user balances and total pool balances will be taken each hour to calculate user rewards.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.