The native crypto token of Layer 1 blockchain Sui is scheduled to launch today and will become available for trading on centralized exchanges shortly after its mainnet release at 8 am EST.
Exchanges such as OKX, Bybit, Binance and Kucoin announced on Twitter that they plan to initiate trading for the token immediately after the Sui mainnet goes live. These exchanges conducted a public sale of Sui tokens at the end of April.
Major exchanges list Sui for trading
KuCoin released a blog post detailing that it will enable user deposits and withdrawals on the Sui mainnet starting at 8 am EST. OKX also confirmed the listing, adding that it will allow users to trade the token against the USDT stablecoin upon mainnet launch, while cautioning users about potential volatility.
Sui, a high-throughput proof-of-stake blockchain developed by Mysten Labs, is set to go live on the mainnet today, marking the culmination of over a year of research and development. Mysten Labs, the developer of Sui, raised $300 million in a September 2022 funding round, valuing the project at over $2 billion.
These exchanges organized a public sale of the network's native token at a sale price of $0.1 each at the end of April. Additionally, Binance featured the token on its launchpool platform, allowing users to stake BNB tokens or TUSD stablecoins to earn sui for free.
In its launchpool announcement, Binance projected that over half a billion sui tokens will be unlocked following the launch. With a maximum supply of 10 billion sui tokens, this implies that 5% of the total supply will become available upon launch. However, the core team has not confirmed this number.
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