Sui Foundation
@SuiFoundation
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Dedicated to the advancement and adoption of the Sui Network by supporting its builder and creator community. Connect at @SuiNetwork .
Sui
Joined October 2022
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Last Seen Profiles
🎉Rounding out 2022, we’re excited to share more details about SUI token allocation!
SUI aligns incentives across all network participants, and is the heart of Sui’s tokenomics.
Let’s dive into what token distribution will look like. 🧵
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📰New today on the Sui Foundation blog - Suiet Wallet!
Our app showcase series launches with a profile of this versatile and easy-to-use wallet built for Sui. Developers can use its open source wallet kit in their own projects.
Read on👇
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📣So how can Sui community members gain access to the SUI token on Mainnet?
We’re excited to share how we’re building the Community Access Program, which will detail how SUI is distributed! 🧵
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❓Have questions❓about the SUI Token Community Access Program?
✅We answer some of your frequently asked questions in this thread (or head to our latest blog post)! 🧵
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📢We're excited to share the 2023 Sui Builder House World Tour!🥳
Learn about where you can find us around the globe next year (and be the first to know about the latest updates by using the sign up link in the blog).
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👋Oh hey there! Sui Foundation reporting for duty🫡
But today isn’t about us, it’s about you: the builders on
#Sui
🌊 We’re excited to announce our Developer Grant Program!
Let’s dive in👇🧵[1/3]
#SuiDevGrants
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🎉We’re excited to announce the 🌊Round 1 recipients of the Developer Grant Program!
We awarded $415,000 to a diverse array of projects that showcased innovative, open source solutions that will benefit the Sui ecosystem.
Learn more about the 12 teams in our 🧵:
#SuiGrants
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📣We believe that decentralization is all about permissionless participation. So we’re proud to announce the SUI Delegation Program!
This is a critical step towards decentralization & in supporting the community's participation in Sui’s operations.🧵
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👋We’re back! And as promised, we want to be as transparent as possible – let’s dive into what exactly the Sui Foundation is and why we’re here.
Our mission is to promote, grow, and cultivate the holistic development of the
#Sui
ecosystem and community.
🧵⤵️ [1/7]
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We've received 600+ applications for the Developer Grant Program so far! We’re so excited to check out the work you’re doing.
Expect to hear about the status of your application within the next 4 weeks.
Have questions? Check out the new Grant FAQ:
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💪The distribution of SUI tokens to early community members is one of our topmost priorities.
To those already evangelizing Sui, onboarding builders, and testing the current experience of Sui – we’re here for you.
We'll ensure you're part of Sui’s token allocation at Mainnet.
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The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know:🧵
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This pie chart shares our approximation of SUI allocation at Mainnet launch.
*Note that SUI token allocation could change over time as the network ripens into decentralization*
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💥With Mainnet launch still a few months out, announcing the Community Access Program now represents our early, public commitment towards decentralization.
We’ll work with the community over the coming weeks to ensure the program delivers on its goals.
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💪The SUI Delegation Program is a critical milestone in this endeavor. Sui is only as good as its community, and we hope this program is one more step towards a fair, open, and decentralized future.
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We want to address some inaccuracies that have been reported today.
Sui Foundation has been and remains committed to cooperating with DAXA and its member exchanges in the spirit of full compliance and transparency.
The unfounded and materially false statements surrounding the
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In response to inaccurate statements that have been made online with regard to Sui Foundation, we share the following confirmation from Binance that Sui Foundation does not own an account with Binance, nor has it sold any SUI tokens on its platform.
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To learn more about the Community Access Program, see our thread here 👇
📣So how can Sui community members gain access to the SUI token on Mainnet?
We’re excited to share how we’re building the Community Access Program, which will detail how SUI is distributed! 🧵
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📣 We believe in an open and inclusive Move community. The Move programming language and its ecosystem benefit from having a broad, cross-platform community.
In support, we are committing funds to sponsor community-organized Move ecosystem events (that welcome all)!
The Sui Foundation is committed to an open, welcoming and inclusive culture to help advance the decentralized future. We strongly believe the Move programming language and its ecosystem benefit from having a broad and cross-platform community.
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🌊We know you’re excited to learn more about token allocation – more details to come soon!
What we can say is that at Mainnet launch, we'll be the largest SUI token holder – and we plan to aggressively use these funds to support our mission, and by extension, the Sui community.
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In addition to our efforts, Sui community members will be able to purchase the SUI token in the early stages of Sui Mainnet. The Community Access Program will let Sui enthusiasts obtain SUI directly, without having to participate in our programs.
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We recently sat down with Greg Siourounis, Managing Director of Sui Foundation, to reflect on the launch of mainnet and talk about what’s next.
☀️He envisions a bright chapter ahead for the Sui community – read all about it on the blog.
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❓Where can I read more about the program?
✅We are still defining certain elements of the program, including specific eligibility criteria.
For the latest info, please read the blog post that introduced the program:
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We’ll also soon release more information on:
🌊Sui’s initial token allocation
💧Processes for obtaining Sui Foundation stake delegation
💰Additional paths for community members to access funding
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✅The program’s goals are:
🌎Maximizing geographic coverage when possible: distribution should enable participation around the world.
🎯Empowering robust + fair participation: SUI tokens should be broadly accessible while also ensuring access to early contributors + supporters.
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✍️Whether SUI is used for staking, for paying gas fees, as a source of native on-chain liquidity, or as a claim on future governance, the SUI token enables a distributed and decentralized network like Sui to thrive at scale.
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Sui Foundation is engaged with
@CoinList
for compliance and distribution services.
Tokens have only been sent to CoinList for the sole purpose of distributing eligible non-US and non-Canadian ecosystem grants and rewards.
Recent media reports emanated from the mistaken belief
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Read the full blog post here:
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Applicants will be judged on:
🧑🎨Originality
💻Technical Design
💬Usability
📊Business Model
📝Practicality
🌎Community
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🗣️Since token holders will always greatly outnumber validators, delegation enables Sui users to have a voice in who runs the Sui network.
Validators have voting power in proportion to the amount of stake delegated to them, and get staking rewards depending on their efficiency.
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🧩Token holders play a vital role in the Sui ecosystem: they channel the network towards long-term success.
SUI permits an on-chain global computer like Sui to operate sustainably in a distributed & decentralized fashion. It’s the glue binding the Sui community together.
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🚀Sui builders want & need to own the SUI token in order to participate in on-chain activity at Mainnet launch & beyond.
We’re designing the Community Access Program to enable Sui community members to purchase SUI tokens in the early phases of the network's lifespan.
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For more details, dive into our blog post:
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As for us: we’re an independent organization that seeks to help grow and cultivate long-term value in the Sui ecosystem and help onboard the next billions users to web3.
👀Keep an eye out for more details from us on Thursday. In the meantime, get working on that application!
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��Are there any applications I can test today to get a chance of being eligible?
✅Yes, the
#CapyHolidays
Contest is live!! Read the participation rules and go play!
We additionally have upcoming opportunities during Testnet Wave 2.
❄️As the year comes to a close, we want to wish everyone in the Sui community…a
#CapyHolidays
!☃️
Today, we’re introducing a special partnership between
@SuiFoundation
and
@Mysten_Labs
: a special holiday edition of Devnet Sui Capys! 🧵
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❓I have tested various applications during Sui Testnet Wave 1. Am I eligible to be added to the program?
✅No – but more eligible applications will come, so stay tuned. To reiterate, there are currently NO official plans for SUI airdrops.
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Soon we will publish a detailed projection of the token release schedule, and will share that link immediately upon publication.
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.
@Scallop_io
: an interest rate machine for Sui that emphasizes user-friendliness. This financial app offers high interest lending and low fee borrowing, premium bonds, and composable tokens.
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❓What is the SUI Token Community Access Program?
✅The program enables Sui community members to purchase SUI tokens in the early phases of the network's lifespan.
SUI tokens will also be available to those who help test Sui apps or promote Sui adoption prior to Mainnet.
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🌐But why is delegation important to decentralization?
Sui operates with a Delegated Proof-of-Stake mechanism through which:
🔹Any validator candidate with sufficient stake can join the validator set
🔹Any SUI token holder can influence Sui’s operations via direct delegation
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🔑We want to be clear: up-front costs should not be a barrier to running a Sui validator. The SUI Delegation Program will address this – allowing small community teams to obtain delegated stake and operate on Sui.
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In Wave 1, projects fell into the following categories:
🛠️Developer Tools
🛒Commerce
🏦Finance
🔵Tokenization
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📈The SUI Delegation Program is vital: when a validator adds more cores or worker machines, it can then process more txns. This enables Sui's throughput to support more volume of txns as demand grows.
But this means the cost of operating a validator grows w/ increased traffic.
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💧builders who missed out on a Developer Grant by a small margin
💧volunteers in community + project management, e.g. Discord mods
💧contributors who've helped improve the quality of docs, code, or apps
💧early advocates and users who have been promoting Sui adoption + success
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Go Sui SDK’s
@ComingChatApp
: a web3 portal combining an account system, payment tool, and social functions which helps developers build new apps in a full-featured ecosystem. Go developers can also use ComingChat’s Sui NFT platform and omni-chain wallet.
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.
@AllArtProtocol
: Designed for the NFT creator ecosystem, this open source Unity-Sui wallet implementation lets users and artists alike trade NFTs.
Listen to the
@SuiNetwork
#WaterCoolerChat
with them here👇
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❓How can I get into the Program?
✅The Program will let Sui community members obtain SUI tokens directly and will also support community members who've contributed in improving the adoption, stability, security, and reliability of the Sui ecosystem during Devnet and Testnet.
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Toshi’s Mamoru: automates secure smart contract operations for applications built on Sui, monitoring and responding to smart contract exploits in near real-time.
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Join us at Sui Basecamp April 10-11 in Paris, France!
❗Announcing our inaugural global conference: Sui Basecamp!
🇫🇷Join us April 10-11 in Paris, France to celebrate the Sui builders, businesses, and believers that have been with us in the first year of Mainnet!
Buy your ticket now before prices increase:
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Over the coming months, we will build out criteria to evaluate and recognize the Sui community members’ contributions. For example:
💧helping node operators + devs debug issues
💧helping to increase the security of the ecosystem by identifying scams
(continued...)
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Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise.
All insider token allocations remain subject to and compliant with their lock ups and other restrictions on transfer.
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.
@KeepSakeMarket
: a future-proof NFT marketplace for game developers, gamers + creators and their communities that allows game SDK integration for listing directly from in-game assets. Keepsake NFTs can be converted into physical assets (like figurines).
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A few things we’re currently designing, for example:
📚Educational and community programs to disseminate Sui knowledge
🔬Research programs to improve Sui’s tech
📈Validator and Move programs to enhance adoption of Sui’s infrastructure
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@WelldoneStudio_
: lets devs write Sui smart contracts using the Remix IDE via a graphical interface for building smart contracts. Extending it to support Sui will help devs get started quickly.
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The gradual addition to the SUI token supply to add ecosystem liquidity has proceeded as planned and as previously communicated from the start. The market cap as reported by
@Coinmarketcap
has never been exceeded.
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Dapp Low Code Dev Platform: Enables devs to build extremely complex dApps by mimicking the experience of developing traditional apps, easing the transition as more people build on web3.
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We’re intentionally launching the Foundation before Sui’s official Mainnet – we believe that Sui’s infrastructure must be coupled with a thriving community, and that the future of this community should be brought along on that journey, not left in the dark.
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We’ll continue to share additional information and announce future programs relating to our decentralization and community-building mission over the coming weeks.
The Foundation is serious about public engagement and looks forward to rich and respectful debates.
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@movebit_
’s Sui Move Analyzer: This Visual Studio Code IDE plugin provides language support for Sui Move + Move. It will also provide project templates, support Sui unit testing, & support the Sui Move Prover.
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@Mynft2021
’s Suia: a proof-of-attendance application that enables organizers verify participation for Sui-based events. It can be used for things like event tickets, contribution medals, and games, helping organizers engage and award participation.
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🗳️Sui decentralization is analogous to representative democracy. Don’t like how a validator is operating? Then move your stake to one you’re more aligned with. This system encourages validators to meet staker interests.
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Our principles:
⚖️Embracing transparency and a level playing field
📡Open communication and a culture of trust
🌎Community engagement matters
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Movey: enables Move developers to discover, validate, and collaborate on the development of Move packages. The current version integrates Move CLI while future versions will enable reuse and discovery of on-chain packages.
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.
@Dappium
: includes an API and web2 SDK to automatically develop, create, & deploy smart contracts. It ensures best practices for security and optimization + handles complexities like interoperability, fiat-friendly options, hybrid models, bridging, & SSO.
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✍️We’ll have more info to come on the application process and requirements for the SUI Delegation Program, but we wanted to be upfront and transparent in our commitment to decentralization, ensuring Sui remains community-driven at its core.
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At the Lisbon
#SuiBuilderHouse
in November 2022, we also awarded
#SuiGrants
via a special in-person, live competition. The following projects were the winners of that competition:
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@hypermatterlabs
’ AirPay: The AirPay service issues debit cards to Sui token holders, letting them pay for services or merchandise at any shop with an NFC-enabled point-of-sale system. Users won’t need a bank or centralized exchange account.
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The specific transaction referenced was a payment subject to a contractual lockup.
On May 31, 0x341f sends 2,500,000 SUI rewards to 0x209f. 0x209f then sends 625,000 SUI to 3 different addresses, all of which ultimately end up at binance, but for simplicity we’ll just follow the 625,000 sent to 0x03d8. 9/
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🤝If no validator reflects your views? Permissionless entry lets you team up w/ community members + enter as a new validator.
In the longer-run, delegation decisions incorporate validator preferences & Sui’s future is effectively decided by the super-majority of delegated stake.
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@DefiSquared
The specific transaction referenced was a payment subject to a contractual lockup and other restrictions on transfer. See our thread for more details.
The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know:🧵
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