By
Chainwire
April 25th, 2024
The Sui Network is adjudged to be a protocol that makes digital asset ownership fast, private, secure, and accessible to everyone.
American token launchpad and trading platform CoinList is set to list SUI, the native token of the much anticipated Sui Blockchain network. As announced by the trading platform, the listing will take place on May 3 which will coincide with the scheduled date that the Sui network will be launching its mainnet.
“Our mission at CoinList is to empower builders at any stage in their journey, and connect them with high quality early adopters of their products,” the CoinList announcement reads. “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 be offering the trading of the token free for the first 48 hours after its listing on CoinList Pro. The trading platform also noted that the free trading will apply to all of the SUI token pairs and users staking SUI will also get a 1 month free to enable them to get more from their investment.
CoinList is known as one of the most functional token listing arenas in the industry. The launchpad has helped push out some of the most innovative blockchain protocols into the limelight. Some of its listed projects include but are not limited to Solana (SOL), Filecoin (FIL), Casper (CSPR) and Mina, recognized as the world’s lightest blockchain.
While the Sui protocol is designed to have a comprehensive embrace from users and developers in different jurisdictions, the token listing on CoinList is limited to users from specific countries. In its announcement, CoinList said users from the United States and Canada will not be able to participate in the trading and staking support it plans to give the Sui network.
This, it noted, is based on its own terms of service and is hinged on the regulatory provisions from these regions.
Sui Network: Changing the Blockchain Functionality
The Sui Blockchain is the brainchild of Mystem Labs, a Web 3.0 startup that is made up of mainly Meta Alumni. The protocol is based on the Move Programming Language that was designed by Mysten Labs and is known to power a highly functional and secure blockchain network.
In highlighting its features, the Sui Network is adjudged to be a protocol that makes digital asset ownership fast, private, secure, and accessible to everyone. With scalability and high cost still an issue for existing blockchain outfits, the Sui Network is aiming to claim a high market share owing to its ability to mitigate these common challenges.
Users will need the SUI coin for different utilities anchored on the Sui Network. For one, it will serve as the utility token for the blockchain network. Additionally, the token will aid in rewarding validators participating in storage of on-chain object related data while also serving as the de facto governance token in the network.