The world’s largest crypto exchange Binance will go live with the 33rd Launchpool project Sui. It will also add the altcoin project to its list once sufficient liquidity is provided.
Binance, Launchpool project will go live with this altcoin
According to official news, the 33rd Launchpool project, which can be issued with Binance, BNB, TUSD, will go live with Sui (SUI). Users can deposit BNB and TUSD into the SUI mining pool on the Launchpad website on May 1 to receive SUI rewards. Thus, it will be possible to remove SUI for a total of 2 days.
Sui is a DPoS Layer-1 Blockchain based on the move programming language. The announcement states that the webpage will be available in about 4 hours before Launchpool launches. SUI token rewards for Launchpool are 40,000,000 (0.4% of total token supply). The initial circulating SUI supply is 528,273,717 (5.28% of the total token supply) and the total token supply is 10,000,000,000 SUI.
Introducing Sui $SUI on #Binance Launchpool!
Farm $SUI by staking #BNB and $TUSD.
➡️ https://t.co/kJFA84oiCZ pic.twitter.com/uobeCtNt9S
— Binance (@binance) April 30, 2023
As Cryptokoin.com reported, the SUI farming period will start between May 1-2. Snapshots of user balances and total pool balances will be taken every hour to calculate user rewards. In addition, these will also be updated every hour. It is possible for users to accumulate their rewards (calculated every hour). They also have the ability to claim these rewards directly on their spot account whenever they want. Each pool’s annual percentage return (APY) and total pool balance will be updated in real time.
It will be possible to stake tokens in only one pool at a time. Also, it is possible for users to withdraw their funds at any time without any delay. In addition, there will be opportunities to join other existing pools immediately. It will automatically transfer tokens staked in each pool, as well as unclaimed rewards, to each user’s spot accounts at the end of each farming period.
Binance will list SUI when conditions are met
Meanwhile, Binance will list the SUI once it meets the liquidity requirement. In this context, it will open to trading with SUI/BTC, SUI/USDT, SUI/TUSD and SUI/BNB trading pairs. The exchange will announce the exact date and timing when it’s ready to go. Also, users can enjoy zero maker fees on SUI/TUSD trading pair until further notice.
It is worth noting that Sui is currently available on OKX, Bybit and Kucoin exchanges. With the launch on Binance, experts expect Sui to gain greater visibility and reach a wider audience in the crypto community.
In summary, the launch of Sui on Binance Launchpool is an exciting opportunity for users to collect SUI tokens for 2 days. Binance’s decision to list SUI on its exchange is a testament to the project’s potential. It is possible that this could pave the way for wider adoption of Sui in the crypto market.
51219
