2024

Vera

DeFi

On 4th May.&nbsp; 2024 Sui mechanism <a href="https://www.cryptotimes.io/2024/05/05/sui-celebrates-mainnet-anniversary-with-promising-outlook/">celebrated </a>its first anniversary with almost 20 million accounts and achieving a peak of 5000 transactions per second.&nbsp; 
Mysten Labs introduced Vera as a platform for advancing technology. It demonstrates the DeFi growth by over $500 million in just a few months, while the TVL grew from $100 million. 
The foundation of Sui with <a href="https://x.com/SuiNetwork/status/1786857666398265813" target="_blank">possession</a> of the large tokens’ locked crowd guarantees adherence to the public emissions’ visible schedule. These new tokens are crucial to the ecosystem, especially for the Move programming language and network security. 
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 Recently, there have been some misleading posts issued about Sui’s token supply. Let’s set the record straight, starting with the basics: locked tokens are locked by third-party custodians. They cannot be moved, and are safely custodied until they are unlocked according to Sui’s…— Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1786857666398265813?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 4, 2024</a>
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Recently the Sui team cleared the doubt that people had about token control. These reports explain how the Sui Foundation manages its funds with decentralized reserves, ensuring no entity controls them. 
Moreover, the network has teamed up with major exchanges such as Binance and Kucoin, boosting the availability of the coin and raising market awareness.&nbsp; 
The significant rise in Suicoin’s token price reflects growing market trust in the company, potentially influencing investors’ attitudes about its future growth. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/03/12/suilend-expands-to-sui-network/">Suilend Expands to Sui Network</a> 
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Sui Mechanism Achieves 20 Million Accounts and 5000 TPS

The Crypto Times

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