The Sui Network is touted to be a protocol that makes digital asset ownership fast, private, secure, and accessible to all.
American token launchpad and trading platform Coinlist is set to list SUI, the native token of the much-anticipated Sui blockchain network. As announced Per the trading platform, the listing will take place on May 3rd which will coincide with the scheduled date that Sui Network will launch its mainnet.
“At CoinList, our mission is to empower builders at any stage of their journey and connect them with high-quality early adopters of their products,” said CoinList’s announcement. “Today, we are excited to announce that Coinlist will be listing SUI, the native token of the highly anticipated Sui Blockchain, on Day 1 of its launch.”
According to Coinlist, it will offer the coin free trading for the first 48 hours after listing on Coinlist Pro. The trading platform also noted that free trading will be applicable to all SUI token pairs and 1 month free will also be available to enable users staking SUI to get more out of their investments.
CoinList is known as one of the most functional token listing arenas in the industry. Launchpad has helped put some of the most innovative blockchain protocols in the spotlight. Some of its listed projects include but are not limited to solana (sol), filecoin (FIL), Casper (CSPR) and Mina are recognized as the lightest blockchains in the world.
While Sui Protocol is designed for broad embrace from users and developers in various jurisdictions, the token listing on CoinList is limited to users from specific countries. In its announcement, CoinList stated that users from the United States and Canada will not be able to participate in the trading and staking support that the Sui Network will offer.
This, it is noted, is based on its own terms of service and hinges on the regulatory provisions of these sectors.
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Sui Blockchain is the brainchild of Mystem Labs, a Web 3.0 startup made up primarily of META alumni. The protocol is based on the MOVE programming language which was designed by Mysten Labs and is known to power the highly functional and secure blockchain network.
Highlighting its features, the Sui Network is considered to be a protocol that makes digital asset ownership fast, private, secure, and accessible to all. With scalability and high cost still an issue for existing blockchain organizations, Sui Network is aiming to claim a higher market share due to its ability to mitigate these common challenges.
Users will need SUI coins for various utilities anchored on the SUI network. For one, it will serve as a utility token for the blockchain network. Additionally, the token will help reward validators participating in the storage of on-chain object related data while serving as the de facto governance token in the network.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves to write about real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies drives his contributions to well-known blockchain-based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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