SUI is indeed very strong in terms of both the team and the investment institutions. However, as a public chain, the valuation must be exaggerated. We need to be clear about this. Moreover, SUI, a public chain, was only launched in 21 years. Compared with the old public chains, it still needs to be tested by time! Of course, the biggest blow was the FTX crash. In Mysten Labs' Series B financing, FTX invested a total of US$102 million, obtained about 570,000 preferred shares, and obtained about 890 million SUI Token subscription warrants. Later, Cottonwood Grove Limited (Alameda) and FTX Trading repurchased about 173 million and 346 million SUI Token warrants at a price of US$500 (a total of US$1,000), respectively, totaling 519 million SUI Token warrants.
As the lead investor, FTX's average cost of investing in Sui Token is very low, about US$0.114. After FTX crashed, Mysten Labs repurchased part of FTX's equity investment in Mysten Labs and SUI Token warrants with $96.3 million in cash, with an average price of $0.185, while Sui's financing cost for the rest was $0.28~0.31, so Sui IEO price is much lower than the financing price!
At present, Sui is still a brand new project, and many people don't know about it yet. Therefore, it is still necessary for us to further understand this project.
