Latest news with #MystenLabs
Forbes
14 hours ago
- Business
- Forbes
What Is Sui Crypto? A Beginner's Guide For Crypto Investors
Sui's unique object-based infrastructure and the Move programming language make it a go-to platform ... More for DeFi, gaming and NFTs. Sui is a Layer-1 blockchain designed to optimize speed, scalability and low transaction costs. Officially launched in 2023, Sui runs decentralized apps and play-to-earn games quickly and smoothly, giving users a streamlined experience. This guide explains what makes Sui unique, how it works and why it's gaining traction among crypto investors and developers. Mysten Labs, a team comprised of former Meta engineers, built Sui. The Layer-1 blockchain uses Move, a smart-contract programming language and unique object-based model, to process transactions in parallel. This leads to faster confirmation times and supports high-throughput applications like gaming, NFTs and DeFi. The network's native token, SUI, is used to pay transaction fees, secure the network through staking and vote on governance decisions. Developers and users are drawn to Sui's ability to run advanced, data-heavy apps quickly and smoothly, making it a promising platform for building next-generation decentralized apps. Sui was created by former Meta engineers who worked on the Diem blockchain project. Led by CEO Evan Cheng, the team built a faster, more efficient Layer-1 network and developed the Move programming language to simplify building decentralized apps. By treating each asset as a separate object, Sui speeds up transactions and avoids delays tied to account balances. This design makes it attractive to developers and institutions looking for performance and security. Unlike traditional blockchains, Sui runs on a unique architecture that allows it to process many transactions simultaneously rather than lining them up in a strict order. It does this by focusing on individual pieces of data, called objects, rather than entire accounts. Two transactions can be processed in parallel if they don't touch the same object. This makes Sui much faster and more scalable than blockchains that rely on every validator reviewing every transaction. Smart contracts on the network are written in Move, a programming language also developed by Meta. Move allows developers to define how assets are created, transferred, and updated as programmable objects. These objects operate independently, making it easier to process many transactions simultaneously. Validators, also known as authorities, manage the network using a system that ensures speed and security. SUI is Sui's native token. It is used to pay transaction fees, secure the network through staking and participate in governance. With a total capped supply of 10 billion tokens, SUI was designed to promote long-term economic sustainability, avoiding the rapid inflation or speculation in many other crypto projects. Importantly, no airdrops were offered at launch, prioritizing long-term stability over short-term hype. As a whole, the network operates on a delegated proof-of-stake model. Users can stake their SUI with validators to help secure the system and earn rewards, which are distributed every 24 hours, including gas fees and protocol subsidies. SUI holders also have governance rights, allowing them to vote on network upgrades and proposals. A unique storage fund collects user fees to cover long-term data costs, reward validators and reduce the circulating supply of SUI, giving the token deflationary traits. Validator rewards are based strictly on stake size, with staking pools using exchange rates to compound earnings over time automatically. Currently, Sui is working to implement 'SIP-39', which lowers the barrier to becoming a validator by focusing on voting power instead of a fixed token minimum. This opens the network to more participants and strengthens decentralization while maintaining economic security and validator accountability. Sui differentiates itself from other Layer-1 blockchains with high velocity, low fees, and an object-based data model that allows parallel transactions. Unlike Ethereum's account-based architecture, which processes transactions linearly and can become congested, Sui handles unrelated transactions independently. Because Sui uses the Move programming language instead of Solidity, it offers developers greater control over assets, although Move is still less widely adopted at this time. Compared to Solana, which is known for speed but has faced reliability issues and high validator hardware demands, Sui offers a more accessible and potentially more stable alternative. Unlike Cardano, which takes a slower, research-driven upgrade approach, Sui focuses on real-time performance and developer usability. These design choices position Sui as a competitive option for building scalable, next-generation applications. Due to its smaller validator set, Sui is less decentralized than networks like Ethereum or Cardano, but it is actively working to improve this. Initiatives like SIP-39, which base validator eligibility on voting power instead of fixed token amounts, aim to lower entry barriers and encourage broader participation. Sui is expected to support more decentralization and stronger on-chain governance as these features roll out. Sui is rapidly becoming the go-to platform for bitcoin-based assets and decentralized finance. OKX recently launched xBTC, a new type of bitcoin token, and chose Sui as one of the first blockchains to support it. bitcoin-backed assets make up over 10% of all the value locked in Sui, showing strong growth in this area. DeFi continues to excel on Sui by moving into real-world asset investing through a new Open Market Group partnership. This lets users create unique tokens called Soulbound Tokens, which give them access to RWAs like property or other assets that earn rewards. Sui is also making waves in gaming. For example, the game XOCIETY teamed up with Adidas to launch limited-edition NFT skins that players can use in the game or trade. Sui's future is bright as it continues to attract developers, institutions and ecosystem partners. Major initiatives like OKX's xBTC integration, the growth of Bitcoin-backed assets, and partnerships in RWA investing signal growing confidence in the network. Upcoming improvements to decentralization, such as the rollout of SIP-39, aim to make validator participation more accessible and strengthen the network's resilience. While the recent Cetus exchange hack raised concerns, Sui's rapid response demonstrated its ability to protect users. Validators and ecosystem partners froze $163 million of the $223 million stolen, showing effective crisis coordination and network control. Blockchain security firm Dedaub identified the bug and outlined fixes, helping bolster confidence in future safeguards. Despite the incident, it has led to renewed focus on improving security and transparency, positioning Sui to emerge stronger and more prepared for institutional growth ahead. Bottom Line Sui is quickly becoming a key player among emerging Layer-1 blockchains. Its unique object-based infrastructure and the Move programming language make it a go-to platform for DeFi, gaming, and NFTs. The ecosystem is expanding and fueled by RWA integrations and BTC-backed DeFi solutions. Despite challenges like the Cetus hack, Sui's swift and professional response highlighted its strong coordination and security focus. With upgrades like SIP-39 to improve decentralization and growing institutional partnerships, Sui is well-positioned as a serious contender in the next wave of blockchain innovation. What Is Sui? Sui is an accelerated, scalable Layer-1 blockchain that supports high-performance decentralized apps using an object-based model and the Move programming language. What Does SUI Stand For? SUI is the native token of the Sui blockchain. It is used to pay for transaction fees, participate in staking, and vote on governance decisions within the network. What Makes Sui Different From Other Blockchains? As previously mentioned, Sui uses an object-based data model and parallel transaction processing, allowing for faster performance and greater scalability than traditional blockchains. The Move programming language gives developers more control over digital assets and smart contracts. Can You Stake SUI Tokens? Yes, users can stake SUI tokens to earn rewards and support the network. Is Sui Suitable For NFT And Gaming Projects? Yes, Sui is well-suited for NFT and gaming projects because of its fast transaction speeds, low fees and object-based data model. These features enable dynamic NFTs and smooth in-game interactions, offering a better user experience for players and developers.
Crypto Insight
4 days ago
- Business
- Crypto Insight
$3.3B in crypto tokens set to unlock in June
Digital assets worth $3.3 billion are set to enter circulation in June as vesting periods for several major projects expire. According to crypto vesting tracker Tokenomist, $3.3 billion in tokens will be released in June, a 32% decline in unlocked tokens month-on-month. In May, such tokens totaled $4.9 billion. Crypto projects allocate tokens for various purposes. For example, a company may promise tokens to team members to reward them for their contributions or sell them to early investors. However, projects usually lock the tokens for a specific period to prevent early holders from dumping before the project matures. The data shows that $1.4 billion in tokens will be released through a 'cliff unlock,' while $1.9 billion will be emitted through a 'linear unlock.' Cliff unlocks release a large portion or all of the vested tokens simultaneously, while linear unlocks emit crypto assets gradually. Among the largest token unlocks in June is Metars Genesis (MRS), a non-fungible token (NFT) project that will release $193 million worth of tokens on June 21 to fund an artificial intelligence partnership. Since March, MRS has released 10 million tokens per month, with nearly $1 billion in tokens unlocked so far. Sui is scheduled to unlock 44 million tokens worth about $160 million on June 1. The tokens will go to the Mysten Labs treasury, early contributors and the community reserve. The largest portion, valued at more than $70 million, is allocated to Series B investors. To date, Sui has unlocked 3.3 billion tokens valued at over $12 billion, roughly 33% of its total supply. Tokenomist data shows another 5.22 billion tokens worth nearly $20 billion remain without a scheduled release date. Projects scheduled to unlock tokens in June Other tokens, including Fasttoken, Aptos, LayerZero (ZRO), ZKsync and Arbitrum also have vesting periods set to expire in June. Fasttoken will release 20 million tokens worth $88 million allocated to its founders, while LayerZero is scheduled to unlock 25 million tokens worth $71 million to its core contributors and strategic partners. Aptos is expected to release 11.31 million tokens worth $61 million to its core contributors, foundation, community and investors. ZKsync will release over 760 million tokens worth $49 million to its investors and team members. Source:
Yahoo
15-05-2025
- Business
- Yahoo
Bitcoin Backed Token YBTC Comes to Sui as Bitlayer Integrates Its BitVM Bridge to Sui Network
Bitlayer, a bitcoin Layer 2 based on the BitVM paradigm, and Sui blockchain have teamed up to make bitcoin (BTC) more useful in the Sui ecosystem. The collaboration involves Sui integrating Bitlayer's BitVM bridge to launch Peg-BTC (YBTC), a Bitcoin-backed token, on its platform, according to an exclusive announcement shared with CoinDesk. It allows bitcoin holders to transfer their BTC into Sui via the BitVM bridge. The bridged version, Peg-BTC, can then be used within Sui's DeFi ecosystem to earn additional yields. "Bitcoin's dominance as a store of value is unmatched, but its utility in DeFi remains untapped. By integrating Bitcoin's liquidity into Sui's ecosystem, Peg-BTC (YBTC) empowers users to earn yield while maintaining direct exposure to BTC's value—a paradigm shift for BTCFi,' Charlie Hu, co-founder of Bitlayer, said in a press release shared exclusively with CoinDesk. BitcoinFi, or allowing BTC users to earn additional yields through DeFi, was one of the hottest topics at the Token2049 conference in Dubai. Franklin Templeton backed the idea at the event, saying it will boost BTC's appeal beyond the long-prevalent store of value story. Bitlayer is the Bitcoin-security equivalent Layer 2 built on the BitVM paradigm to bring smart contract capabilities to bitcoin without influencing its core consensus. It relies on off-chain computation and on-chain fraud proofs to keep the network secure and decentralized. Bitlayer's BitVM-powered zk bridge is a special tool that facilitates safe and secure movement of BTC onto different blockchain ecosystems without relying on centralized intermediaries or middlemen. It's trust-minimized, meaning it's designed to be very secure and decentralized. Sui is a Layer 1 blockchain focusing on offering high-speed and low-cost transactions through parallel processing. As of writing, its DeFi ecosystem comprised 49 projects, boasting over $2 billion in crypto deposits, per data source DeFiLlama. Integrating Peg-BTC (YBTC) into the Sui ecosystem opens up several new opportunities for users, like staking Peg-BTC to earn interest through various Bitcoin staking protocols. Users can also lend or borrow Peg-BTC by lending it out to earn yields or using it as collateral for loans. Additionally, Peg-BTC can be traded on popular decentralized exchanges within Sui, allowing users to swap and provide liquidity to earn trading fees. Hu said they plan to work with Sui's top protocols, with the biggest traction in terms of total value locked, fully diluted value and user base within the Sui ecosystem. Adeniyi Abiodun, Co-Founder and CPO at Mysten Labs, the company behind Sui, said they are taking a holistic approach while catering to the growing demand for BitcoinFi. "Sui is taking a holistic approach by onboarding a full stack of infrastructure and BTCfi asset options into the ecosystem, including staking, restaking, bridge integrations, WBTC, sBTC, and soon Peg-BTC (YBTC). Demand is growing for Bitcoin to serve a greater purpose beyond simply being held," Abiodun told CoinDesk. "Key integrations, such as the BitVM bridge with Bitlayer, are transforming the experience for Bitcoin holders by enabling them to earn, engage with DeFi, and put their assets to work on Sui," Abiodun added. As of today, BTC assets comprise over 10% of the total TVL locked in the Sui ecosystem, with over 587 BTC flowing into DeFi since February. "With support for leading BTCfi integrations, Sui's advanced programmability activates Bitcoin's utility, enabling users to move beyond holding and into a secure, high-performance chain," Abiodun noted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
09-05-2025
- Business
- Business Mayor
Walrus price today, WAL to USD live price, marketcap and chart
Walrus is a decentralized data storage protocol and application development platform that allows apps to publish, read, and program large data files and rich media content such as videos, images, and audio. Built on Sui, apps on Walrus can manage stored on- and offchain data via Move-based smart contracts. Originally developed by Web3 infrastructure builders Mysten Labs, Walrus represents an evolution in how decentralized data storage works. Walrus is the first storage network to let you store any size of data on chain and at scale. Web3 projects can do more with their data through smart contracts, allowing a broader set of businesses to be built onchain. -Robust & reliable network: Data remains accessible, frictionless, and secure even in a catastrophe -Cost-efficient storage: Builders experience performance and cost dynamics almost on par with web2 solutions -Programmable storage: New use cases unlocked with a native tie between storage and smart contract programmability
Business Mayor
01-05-2025
- Business
- Business Mayor
SUI and SEI rally as Bitcoin tops $96K, breakouts signal 2025 highs
The surge in the altcoins comes amid a broader rally triggered by Bitcoin's new milestone. The daily chart for SUI reveals a bull flag pattern, often considered a continuation signal for uptrends. After dipping below $0.14 earlier this year, the token has reversed its downtrend. As Bitcoin pushed past $96,000 this week, it reignited interest across the altcoin market. Among the tokens gaining significant traction are SUI and SEI, both of which are showing breakout signals following months of gradual upward movement. With bulls regaining control and wider market sentiment turning optimistic, analysts are now closely watching these two tokens to see if they can test their respective highs in 2025. Solana, another top-10 cryptocurrency by market cap, has also reclaimed levels above $150, contributing to renewed enthusiasm for smaller tokens like SUI and SEI. The current price action suggests growing accumulation among traders as technical patterns hint at continued bullish momentum. SUI's $4 target comes into play SUI, the native token of the Layer 1 blockchain developed by Mysten Labs, is showing signs of a breakout from its recent consolidation phase. After rising 60% in a short span, the token managed to avoid a correction, instead consolidating within a narrow range for more than a week. This range-bound behaviour has now culminated in a bullish breakout, supported by technical indicators. The daily chart for SUI reveals a bull flag pattern, often considered a continuation signal for uptrends. The price is now approaching resistance near the $4 level, which will be the next major test. Source: CoinMarketCap Meanwhile, the 50-day moving average has flipped positive, confirming a potential bullish reversal. The MACD, though showing some decline in buying volume, remains above the zero line. A golden cross—where the 50-day moving average crosses above the 200-day—could also occur in the near term, bolstering the bullish case. Despite occasional dips in volume, SUI's price action suggests investor confidence is still intact. If this trend continues, the token could aim for a new all-time high closer to $7 in 2025, especially if Bitcoin remains above its current support levels. SEI bulls eye $0.5 breakout SEI has also emerged as a strong gainer in the current cycle. After dipping below $0.14 earlier this year, the token has reversed its downtrend and is forming a pattern of higher highs and higher lows. More notably, it has broken through the bearish Gaussian Channel on the chart—a move typically interpreted as the beginning of a longer-term uptrend. Volume indicators, particularly the Chaikin Money Flow (CMF), show a clear uptick in capital inflows into SEI. The CMF has moved above zero for the first time in weeks, signalling increased investor interest. With resistance levels at $0.32, $0.40, and $0.44 coming into view, SEI appears poised for further gains. Source: CoinMarketCap A move past the $0.48–$0.50 zone, which marks a significant resistance area, could trigger a fresh leg up. If momentum sustains and market conditions remain favourable, SEI may well be on track to approach the $1 mark by mid-2025. This would represent a more than 7x gain from its previous lows, making it one of the standout performers of the cycle. Technical indicators support further gains Both tokens are showing confluence across several key indicators. SUI's RSI remains in neutral territory, leaving room for more upside. Read More Crypto Fear and Greed Index Points to Bitcoin Price Path to $40K SEI, on the other hand, has just crossed into bullish territory, suggesting its rally may still be in its early phase. Market watchers are now focusing on the next few days for confirmation of trend continuation. While external factors such as macroeconomic sentiment, US regulatory decisions, and Bitcoin volatility will continue to influence prices, the charts for SUI and SEI provide a positive technical outlook in the short-to-medium term.
