Three cryptocurrency exchanges, Bybit, OKX, and Kucoin, have announced their intentions to list the $Sui Token and provide customers with a new subscription method. The $SUI token will be available for purchase from a designated pool at a sharply reduced rate under the new model, which will replace the current approach of giving out free tokens, or airdrops, to users who have helped build the $SUI Token ecosystem. As a result of this modification, approved contributors are going to get special prizes and benefits. Additionally, regular people can purchase for a premium price via a lottery. The news of the listing is unannounced by Binance.
Contributors Get Exclusive Recognition Sales and Token Lottery
Sui ecosystem supporters will be the only ones eligible for an extra Recognition Sale. Users must have been added to the Sui Foundation’s official allowlist to take part in the Recognition Sale. For just $0.03, allow listed users can buy as many as a total of 1500 SUI from a collective supply of 25,000,000 SUI, and these tokens will be completely unlocked once the mainnet launches. The purchase of SUI during the sale on OKX Jumpstart can afterward be made via OKB by Allowlisted users.
In addition, the token distribution lottery will still be open to anybody who takes part in this unique event. On April 23, SUI Tokens will be made available for purchase on OKX Jumpstart through a token distribution lottery. OKB holders may utilize their OKB to buy lottery tickets, and those with winning tickets can buy SUI. Ecosystem contributors will be access to an extra Recognition Sale.
Trending Now: Celsius to Sue Creditor for Leaking Sensitive Information
In September 2022, Mysten Labs, the development team for Sui, received $300 million in funding from FTX Ventures, Coinbase, a16z, Jump, Circle, and Binance. Mysten Labs just paid $96 million to repurchase FTX’s ownership holding and the ability to buy Sui tokens. This action may result in a stronger decentralization of the Sui ecosystem and shows that Mysten Labs has reclaimed control over the distribution of its tokens.
Winners of SUI Token Distribution to Receive Installments over a Year
According to reports about the distribution of SUI tokens, winners would get their tokens over the course of a year. On the day the winning ticket is confirmed, users will be able to unlock a portion of their tokens. A subsequent portion will release on the same day each subsequent month. This indicates that over the course of a year, customers will receive their tokens in thirteen equal instalments. Moreover, users’ Funding accounts will instantly receive the unlocked tokens, making it simple for them to obtain their incentives.