According to Foresight News, Sui's on-chain transactions have recently seen a significant increase, largely due to the 'Spam' project. The project has sparked intense discussions, with some questioning the validity of the data, suggesting that the number of instructions has been mistaken for the number of transactions. However, Toly, co-founder of Solana, and Adeniyi, co-founder and CPO of Sui, have both confirmed that these are independent transactions, emphasizing the authenticity of the data.
The surge in Sui's transaction numbers is attributed to the Spam project, developed by Juzy. Spam is similar to Ore on Solana, a PoW project on a PoS chain. Users earn tokens by continuously sending transactions, with the number of tokens earned increasing with the number of transactions sent. The only cost of obtaining tokens is the gas fee.
The total amount of SPAM tokens is 100 billion, with 10 billion mined daily for a total of 100 days. The daily inflation rate of the token gradually decreases, starting at 100% on the first day and dropping to 1% on the last day. Despite the token having no functional value, it has been popular due to its characteristics: everyone can participate equally, there is no whitelist, the token supply is predictable and transparent, there is no pre-mining by the team, and the only cost is gas.
The concept of fair distribution is not new and has been hyped for half a year. The gameplay concept of Spam seems to be very similar to Ore. However, there is a slight difference. Performing PoW on a PoS chain sometimes serves as a 'performance test' for the underlying chain. Solana revealed problems during the Ore test, with the transaction success rate dropping to a low point and the chain being almost unusable for several days. Sui, on the other hand, seems to have withstood the stress test, maintaining a good transaction success rate, confirmation speed, and cost despite the surge in transaction numbers.
To participate in Spam, one needs to go to its web page caster, which will generate a wallet in the browser for Spam. The web page caster will automatically handle everything: automatically send transactions, mint coins, and claim SPAM. All you need to do is transfer any amount of SUI for transaction fees to the wallet, click start, and you're done. The overall operation is actually simpler than Ore.
It is also possible to use an existing wallet for Spam, but the private key needs to be loaded into the web page caster program for use. If there are other assets (such as NFTs), it is not recommended to do so, as there is some risk in storing the private key in the browser storage. Also, remember to register before Spamming! The Spam counter works on this principle: a new counter is created every day, transactions are sent on the first day, registration must be done on the second day, and from the third day onwards, SPAM can be minted at any time.