It was not that long ago when Ethereum was constantly derided as too slow, too expensive, and too unscalable... well, Ethereum is the tortoise of smart contract blockchains, in that it is just slow and steady progress. These days, we have Layer 2s and incoming zk-rollups and kz-EVMs, along with proto-danksharding... all of which will scale the Ethereum ecosystem by placing less demands on the main-net settlement layer.

Anyway, all of the Ethereum bashing led to a good amount of alt-L1 blockchains launching with metrics in mind. TPS generally being the one that was most often touted... or cost. Needless to say, both those things are easy to achieve high metrics in when your network isn't under any load! But more critically, all of these metric chasing "wins" came at the cost of loss of decentralisation and/or openness. You got the gains by centralising critical chokepoints... which sort of went make to defeating the purpose of the technology in the first place!

Coming from the ashes of Meta's (Facebook's) Diem project were two teams that took away the code language to create smart contract networks. The first of these was Aptos, which had already done a token launch... and the second was Sui, which will have its token generation event very soon!

Unlike Aptos (and most other projects at the moment), Sui has forgone the airdrop model of "rewarding trusted early community and adopters". Well, I'm not really surprised that this has finally happened... as the industry of airdrop hunting has now well and truly become established! I'm not a fan of the concept of airdrop hunting... paying lip service to "testing"... it only incentivises dumpers and not a real user base.

Sui has gone back to the IEO model... which means that they are doing a Spotlight sale on KuCoin (and somewhere else as well, I think). It was a ticket/lottery based system that was based upon snapshots of total Kucoin holdings. Oddly enough, the ticket drawing was delayed quite heavily... which made me think that I had missed out on a purchase spot. However, it turns out that the ticket drawing was postponed until about a day before the mainnet launch.

... and it turns out that I did win a spot. Now, there is a single share purchase for lottery winners. 1000 USDT per share at 0.1 USD per SUI... I'm up in the air as to whether or not to claim my spot... it is a bit of a hype token, but on the other hand, I have heard good things about the programming language in comparison to Solidity. So, who knows.... maybe this might be an interesting long shot.

The open sale does mean that you are unlocked in 13 tranches. 1/13th at mainnet launch, and then the rest over the following twelve months.... that sort of sucks, but it does prevent too much dumping at the start! Meanwhile, the whitelist purchasers (the contributors and developers) get a lower price and instant unlock.

So, I guess in the end, this might be a YOLO bet... long shot, and the immediate goal is to recover the initial 1000 USDT outlay.

... hmmm, funny, I see that Binance also has a 2 day Launchpool to stake TUSD and BNB to harvest SUI tokens! I'm in on that as well... that will aid my early dumping to recover money!

I can also be found cross-posting at:
Hive
Steem
Publish0x

Handy Crypto Tools

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CoinList: Access to early investor and crowdsale of vetted and reserached projects.
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