ā”ļø Recently, #MystenLabs ' Sui Network has integrated a liquid staking feature for SUI tokens.
ā”ļø Liquid Staking is when staking participants receive derivative tokens corresponding to the amount of tokens they have deposited staking. Derivative tokens typically reflect the value of the tokens that have been staked. This feature helps investors optimize profits, diversify investment portfolios and make it more convenient to experience the ecosystem.
ā”ļø āAccording to the announcement from the platform, the update will allow developers to provide services that will allow token holders to receive derivative tokens corresponding to the value of the Sui tokens they have staked,ā the project said. know. āExisting Sui developers will be able to provide decentralized liquid staking solutions.ā
ā”ļø Sui is a layer 1 mesh built on the Move language. Mysten Labs, the developer of Sui, launched the Sui mainnet on May 3. Sui is committed to competing with other Layer 1 networks like #Solana with scalability and speeds up to 300,000 transactions per second with 100 testnet validators.
ā”ļø Sui has listed SUI tokens on many centralized exchanges such as #Binance , OKX, Bybit, and KuCoin. Sui is considered a project with a high inflation rate with its token. The project will continue to double the total circulating supply in November this year. On June 3, Sui issued another 61 million tokens.
ā”ļø In recent times, the Sui system has been repeatedly criticized forĀ "shady" tokenomics . Recently two projects on Sui alsoĀ announced about leaving the Sui ecosystem Ā and moving to build on other blockchains. Previously, the project made the community "not very happy" when it did not pay the airdrop but sold the token.
