Sui DePIN, the first layer of Decentralized Physical Infrastructure Network (DePIN) on the SUI blockchain, has announced its upcoming Initial DEX Offering (IDO), marking a major milestone for the project.
By decentralizing data ownership, Sui DePIN enables users to control and earn from the AI models they participate in. Developers access user-generated data streams, opening up new possibilities for AI advancement without relying on centralized platforms.
Sui DePIN Unveils Strategic IDO Partnerships
Sui DePIN has announced its upcoming IDO on SuiPad, the largest native launchpad on the Sui network. The platform allows the community to participate in early-stage token sales for rigorously vetted Tier-1 projects. In fact, SuiPad’s SUIP token is listed on prominent exchanges including KuCoin, Gate.io, and MEXC.
Another IDO launch partner is Ape Terminal, billed as the industry’s largest launchpad. It has up to $1.84 billion in connected assets and is considered responsible for one of the most successful launches of 2024.
Dubbed the first Modular Data AI Network, Sui DePIN has gained substantial traction. It has over 200,000 active users and over 1.5 million AI nodes. According to Sui DePIN, this traction follows strategic support from major players such as Aethir Cloud and Amazon Web Services (AWS).
Sui DePIN celebrates achievements and presents vision for 2025
Furthermore, these grants have positioned Sui DePIN to capitalize on SUI’s recent momentum. The blockchain also saw over $570 million in trading volume last month. The project’s fully diluted valuation (FDV) starts at just $2.55 million, highlighting its growth potential. Against this backdrop, Sui DePIN celebrated its 2024 progress in a recent post on X (formerly Twitter).
“2024 has been an incredible year for SuiDePIN! We’ve reached over 1.5 million total active nodes, and with our listing set for January 6th, we’re just getting started,” the post read.
The team also announced its roadmap for early 2025. Part of that roadmap is a snapshot for Season 1, which begins on January 9. Rewards distribution will begin on January 13.
“We believe that rewarding users with only $1–$3 for using a testnet does not make sense. Instead, we will focus on rewarding fewer users with much larger rewards,” the post added.
However, the announcement of Sui DePIN’s IDO and its broader plans have generated positive market sentiment. According to data from BeInCrypto, the price of the SUI token has surged by over 8%, reflecting investor confidence in the project’s potential to deliver long-term value.
SUI Price Performance. Source: BeInCrypto
Strategic decision reflects alignment with networks
Elsewhere, the project decided not to use Polka as a launchpad, citing the lack of support for the Solana network. This decision reflects Sui DePIN’s commitment to aligning with networks that complement its vision.
We canceled the sale on Polka because they do not support the Solana network for IDOs. We are launching on Sui and Solana, and other launchpads have their allocations on the Solana network, Sui DePIN articulated.
Additionally, the Sui ecosystem continues to expand, with the recent launch of Chirp’s first Play-to-Earn Sui DePIN game. Chirp combines gaming with decentralized infrastructure, creating new opportunities for user engagement and monetization. This innovative approach highlights the versatility of the Sui blockchain. It also reflects its ability to support diverse applications beyond traditional DePIN use cases.
The post Sui DePIN Announces Launch of Initial DEX Offering appeared first on BeInCrypto.
