Sui Network Closes IDO Registration and Announces Mainnet Launch on May 3
Sui Network, a blockchain project, announced the launch of its mainnet on May 3rd, according to recent reports. The project has garnered a lot of attention recently due to its upcoming listing on several major cryptocurrency exchanges, including Kucoin, OKX, and Huobi. In addition, the project has also announced a subscription-based sales mechanism for its native coin, SUI.
The SUI token will be used to pay transaction fees for activities on the Sui blockchain, and users will also be able to stake their tokens with validators and participate in network governance activities. The project has also launched a community outreach program that will allow early supporters to purchase SUI at a reduced price.
📣We’re excited to share that Mainnet will officially launch on May 3, 2023! pic.twitter.com/0jExi7gOka
— Sui (@SuiNetwork) April 19, 2023
The sales will be divided into two rounds: General Sale and Whitelist Sale. The General Sale will be open to all users at a price of $0.1 per SUI on OKX and Kucoin. The Whitelist Sale, on the other hand, will be reserved for individuals who have Champion and Supporter roles within the project’s Discord community, and they will be able to purchase SUI at a reduced price of $0.03 per token.
As of April 20th, the project has closed its Whitelist Sale registration, and over 340,000 accounts were created before February 1st, meeting the necessary requirements. Of these, 180,000 accounts have been verified, and 96,000 accounts have qualified to participate in the Whitelist Sale.
The project has already sent out emails to those who were successful in the Whitelist Sale, allowing them to purchase SUI at the reduced price of $0.03 per token on the three participating exchanges. In the event of any KYC verification errors, the project will update the list until the sale is fully subscribed.
In summary, Sui Network’s upcoming launch of its mainnet and the listing of its token on several major exchanges have generated significant interest among cryptocurrency enthusiasts. With the project’s subscription-based sales mechanism and community outreach program, early supporters will have the opportunity to purchase SUI at a reduced price, with the potential for long-term value as the project continues to develop.
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