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

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.

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