SUI is a hated crypto project among the airdrop hunters because the team did not follow the ordinary way of distributing their initial tokens to enthusiasts by airdropping a large amount of community funds for them.
When the airdrop lovers could not get what they wanted, they initiated a reactive campaign with the slogan that "No Chain, No Community". Though the initial months of SUI were terribly desperate, the last 2 months have been going on perfectly fine on SUI's side.
Crypto Rank
SUI is a different chain. It is both under the category of VC chain with around $400M in initial investments and a hated chain that can go up with a hate run. Apart from that, the Move language, the same with Aptos, can be another story of itself to rise if Aptos performs well.
Though there are many factors to be bullish on SUI's side, the investors and crypto community underestimate its potential. The total value locked on the ecosystem and the number of projects have been going up.
The chain is cheap, fast, and promising.
I use it for DEX operations, liquid staking, Concentrated Liquidity, which is an indicator of a developed chain for me, and many other purposes. The chain is pretty rewarding with several DeFi oriented projects.
Turbos Finance
If you could enjoy strong, also sustainable, APR on a new chain that has not pumped hard in a bull market, what would you do?
This is the point that SUI team and the projects on the new chain made a great step to increase its Total Value Locked by 10x in a very short time. We have not witnessed a crazy pump in the crypto ecosystem and there are still millions of potential crypto investors outside. Still, the success is worth appreciating.
The team wanted to reward the crypto investors who decided to stay in the network and create value over there. The distribution of SUI Shark NFTs, gamification of SUI quests to reward the community, and partnerships with new blockchain based games to energize the chain are some of the firm steps taken.
The airdrop, and the best way to reward the community under a 100% win - win situation, is still not clear. The new projects, SUI & SEI, tried to change the rules of the game but they only lost reputation temporarily. Now, both of them have doubled their prices in the last 2 months.
When FTX is Re-launched
The real bull market will start when the bankrupt exchange, FTX, is launched back and the users receive their money safely. The crypto ecosystem has pruned the problematic companies and service providers over the last 2 years but the position of FTX is a bit different.
The exchange represents another population of investors and it is backed by several giants of tech, economy, and politics. Besides, FTX has invested in several new projects during the seed and Series A rounds. Simply, the FTX Ventures already made at least 10x - 20x since the time the exchange was shut down.
As an investor of SUI, the exchange FTX may want it to perform well like the other projects that they invested in. Of course, Alameda Research era is over but they know the rules of crypto far better than any other ones.
What do you think about SUI projects? Share your thoughts and experiences below ??
