Recently, social dApp built on the Sui network, Suia.io announced its roadmap and introduced platform’s utility token $SUIA and future plans.
In recent years, blockchain technology has given birth to a new generation of decentralized applications (dApps) that promise to revolutionize the way we interact online. Sui Network, a prominent player in the blockchain ecosystem, has become the go-to platform for many social dApps seeking to take advantage of its powerful and user-friendly environment. Recently, Sui ecological social dApp, Suia, revealed its platform’s roadmap and introduced its utility token $SUIA, built on the Sui network.
Suia: Building A New Kind Of Community
Suia.io, a groundbreaking social dApp built on SuiNetwork, is forging a new path for communities, promising to create an open, powerful, and user-driven environment. With the belief that digital asset ownership will define the new generation of society, Suia aims to unite individuals who share common assets as friends, colleagues, or even family members. By focusing on four key innovations, including personalized NFT recommendations, Feed based on-chain activity, brands club, and composability spaces on Sui, Suia is poised to change the way users dive into DeFi space.
After ten months of hard work, Suia has amassed over 240k users, 80 Sui brands, a daily UV of 10k, and received accolades such as Sui Grants & Sui Builder Heros from the Sui Foundation. They have also claimed victory in the MoveCTF and Sui Demo Day championships. With a focus on the APAC ecosystem, Suia has collaborated with the Sui Foundation to connect over 80 solid projects.
Now, Suia is transitioning towards a decentralized and self-running platform. This shift is crucial for fostering an open environment and ensuring the platform’s long-term success through community ownership. By leveraging decentralization, Suia can create a truly open environment that empowers users to help grow and improve the platform.
Suia Introduces $SUIA Token And Its Role In The Suia Ecosystem
In line with this new direction, Suia has also announced the launch of its native utility token, $SUIA. This token will provide economic incentives for users to contribute and participate in the Suia ecosystem, creating a mutually beneficial system where everyone is fairly rewarded for their efforts.
Designed to be used solely within Suia, the $SUIA token is indispensable to the platform. Without it, users would lack incentives to contribute resources or services for the ecosystem’s benefit. $SUIA will be awarded to users based on actual usage, activity, and efforts made on Suia, with inactive users not receiving any incentives.
Out of a total of 100 million $SUIA tokens, the distribution breakdown is as follows:
- 7% Community Access Program, no lock
- 13% Early Contributors, 0-20 months linear unlock
- 20% Team, 0-40 months linear unlock
- 60% Community, 0-50 months linear unlock
To encourage decentralized community governance, $SUIA will enable holders to propose and vote on governance proposals determining future features, upgrades, or Suia parameters. Additionally, mechanisms will be introduced to allow unaffiliated parties to modify or upgrade smart contract functionality or participate in other essential tasks.
Suia’s Exciting Developments And Future Plans
Looking ahead, Suia has many exciting plans, including wallet-based personalized NFT recommendations, integrating on-chain activities into users’ feeds, expanding their brand club based on NFT, and implementing Suibox, a customizable personal space for users to express their creativity.
Suia’s personalized recommendation system will help users discover NFTs that match their interests, utilizing an algorithm that considers asset classification, consumer behavior, social association, brand preferences, and regional content. Users can explore the Sui world in one place by supporting all premium NFTs within the Sui ecosystem.
In terms of the user feed, Suia aims to keep users up to date with the latest on-chain activities from their favorite whales, creators, brands, collectors, and traders. Currently, Suia already supports Create, Claim, Like, and Reward actions and plans to integrate other projects.