Sui Foundation Halts Recognition Sale Applications
On April 20th, according to an official announcement, Sui has stopped receiving Recognition Sale applications. Recognition Sale will be open to community member
On April 20th, according to an official announcement, Sui has stopped receiving Recognition Sale applications. Recognition Sale will be open to community members who joined Discord before February 1st, with a theoretical number of qualified members just exceeding 340000 accounts. At present, the total number of final submissions for Recognition Sale is 180000, and the Sui Foundation has developed a random selection algorithm for this purpose. It is expected that 96000 winning accounts will be randomly selected from the accounts of 180000 submitters. Users in regions with unclear regulatory regulations may need to perform other participation steps. The Sui Foundation will start contacting whitelist users via email on April 20, 2023, and activate the whitelist on the trading platform on April 21.
Sui: It is expected to randomly allocate 96000 whitelist qualifications to 180000 accounts
An Overview of Sui’s Latest Restriction on Recognition Sale Applications
On April 20th, an official announcement was made by the Sui Foundation, stating that they have ceased receiving Recognition Sale applications. The primary reason for this halt is to limit the number of applicants eligible for the sale. The Recognition Sale will only be open to community members who joined Discord before February 1st, with a theoretical number of qualified members just exceeding 340,000 accounts. Presently, the total number of final submissions for Recognition Sale is 180,000, and the Sui Foundation has developed a random selection algorithm for selecting successful candidates. It is expected that 96,000 winning accounts will be randomly selected from the pool of 180,000 submitters. However, users in regions with unclear regulatory regulations may need to perform other participation steps.
Understanding the Recognition Sale
The Recognition Sale is a method of distributing the SUI tokens, which is the native cryptocurrency of the Suim cryptocurrency platform. This sale is an opportunity for interested parties to purchase SUI tokens before their launch on various cryptocurrency exchanges. Anyone participating in the Recognition Sale will receive SUI tokens in the form of a Fixed Vesting plan.
The Halt on Recognition Sale Applications
The Sui Foundation decided to put a halt to Recognition Sale applications due to the surge in the number of qualified members who joined the Discord community before February 1st. Since the sale was launched, the Foundation received a staggering number of submissions from eligible Discord members. Hence, the Foundation announced that it would select a limited number of candidates through a random selection algorithm that will ensure fair distribution of tokens.
The Future of Recognition Sale
The Suim Foundation will start contacting whitelist users via email on April 20, 2023, and activate the whitelist on the trading platform on April 21. This means that successful candidates selected through the random algorithm would be notified via email, allowing them to access the whitelist on the trading platform. This purchase must be made within a few hours to claim the SUI tokens.
Impact on Suim Ecosystem
Sui has developed a unique ecosystem, consisting of a cryptocurrency wallet, a trading platform, and various other features. The SUI token is a vital component of the Suim ecosystem, as it allows users to access and use the platform’s features.
FAQs
1. Why is the Sui Foundation halting Recognition Sale applications?
The Sui Foundation has halted Recognition Sale applications to limit the number of successful candidates who will be able to access the sale. This is done to maintain a fair and equitable distribution of the SUI tokens.
2. How many candidates will be selected through the random selection algorithm?
The Sui Foundation has created a random selection algorithm that will select 96,000 candidates from a pool of 180,000 submitters.
3. What happens after successful candidates are notified via email?
After successful candidates are notified via email, they will have access to the whitelist on the trading platform. Successful candidates must purchase the SUI tokens within a few hours to claim the tokens.
This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/17663.htm
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
BitMEX: The Latest Partnership with Onramper
On February 17, according to the official announcement, BitMEX, a crypto derivatives exchange, reached a cooperation with Onramper. It is reported that Onramper
-
The Secret Bitcoin Investment of Bhutan’s Sovereign Wealth Fund
On April 17th, according to court documents, in the past year, the Royal Government of Bhutan\’s sovereign wealth fund Druk Holdings&Investments has invested ten
-
Commercial Encryption Restrictions May No Longer Be Associated with Licensed Encryption Companies
According to reports, according to the latest anti money laundering bill of the European Parliament, commercial encryption restrictions may no longer need to be
-
Title: Examining the Recent Sale of 3.73 Million ARBs by Cryptocurrency Whales
According to reports, according to encrypted KOL Remains Twitter, two whales sold 3.73 million ARBs a few hours ago after the Arbitrum Foundation\’s currency sale scandal exploded.
-
BTC Breaks Record: Surges Past US $28000 Mark
According to reports, the market shows that BTC has exceeded US $28000 and is currently reported at US $28014.7, with a intraday increase of 1.84%. The market i
-
What does a physical cryptocurrency mining machine mean (What does a cryptocurrency mining machine mean)?
What does a physical cryptocurrency mining machine mean? What does a physical cr
-
What type of currency is DOT (Does DOT have potential)?
What type of currency is DOT? DOT is a synonym for a blockchain protocol with t
-
Huang Licheng Loses 4600 ETH During Blur’s Second Quarter Air Drop
On March 27th, according to on-chain data, Huang Licheng (machibigbrother. eth) lost 4600 ETHs during Blur\’s second quarter air drop.
Huang Licheng has lost 460 -
Why is the gas cost of ETH very high (ETH out of gas)
Why is the gas cost of eth high; Daily Planet Daily is authorized to reprint There are two reasons why ETH’s gas fees have increased in price: 1. ETH’s gas fees are very high and have reached a new high (approximately 1000Gwei) Due to ETH being an ERC20 token rather than a smart contract, transactions require a significant amount of gas fees As smart contracts get closer and closer, we may find that many ETH users have used other smart contracts. But if the price of ETH fluctuates significantly, these users will use other smart contracts to retrieve all their holdings of ETH and withdraw them, and when ETH prices fall, they may not sell ETH 4. Some ETH holders hope to obtain higher returns from their ETHs 5. Because some ETH holders believe that ETH is more suitable for long-term investments, they have begun to consider increasing their ETH balance, which has led to an increasing demand for ETH…
-
The Future of Financial Technology: Digital Assets to Play a Major Role in UK’s Growth
According to reports, Dominic Johnson, Secretary of State for Commerce and Trade, CBE, met with Jeremy Allaire, Chief Executive Officer of Circle, and Teana Bak