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Sui network, a decentralized permissionless smart contract platform, is set to launch its mainnet on Wednesday, 12 pm. UTC. In addition, the Sui network embarked on a journey to distribute its token, SUI, to as many users as possible.
For instance, the Suiswap, a swap platform on the Sui blockchain, announced that it will conduct an airdrop for the community. In a stunning move, the top centralized exchange by daily traded volume, Binance, also announced support for the Sui network through the listing of its SUI token.
Notably, Binance will open trading for SUI/BTC, SUI/USDT, SUI/TUSD, SUI/BNB, SUI/EUR, and SUI/TRY trading pairs fifteen minutes after the mainnet launch. The exchange announced zero maker fees on the SUI/TUSD trading pair until further notice.
Sui Network and the Market Outlook
The Sui network has ventured into a competitive field of smart contracts that are heavily dominated by Ethereum, Polygon, Binance Smart chain, Cardano, and Solana, among others. Nevertheless, the Sui team is confident of obtaining investors’ and users’ favor due to its design and other key features.
For instance, the Sui network uses the move programming language to write its smart contracts and Byzantine to ensure the safety and scalability of the blockchain. The Sui network’s whitepaper has a detailed explanation of the system similar to Satoshi’s original whitepaper.
As a result, the Sui network has significantly differentiated itself from meme coins launching without any roadmap, and a properly designed whitepaper. In this regard, the Sui network is bound to attract significant attention from retail traders, institutional investors, and DeFi developers.
Already, the network has unveiled its Sui Academic Research Awards program with about $250k in funding to support the Sui Foundation mission.