YouSUI: In this article, we cover a detailed review of YouSUI. How does YouSUI Crypto work & Are important features?
This stands as an innovative and flexible All-In-One platform, powered by the Sui Network. Offering an extensive array of services tailored specifically for blockchain needs. At its core, this features a decentralized exchange (DEX) which enables users to trade cryptocurrencies and digital assets safely and efficiently.
Also included is an innovative Launchpad which serves as a base for new projects and token offerings to take off, driving growth and innovation within the blockchain space. Art enthusiasts and creators will appreciate the for its NFT marketplace where unique digital assets can be purchased, sold and appreciated.
Additionally, This provides an engaging social platform which encourages collaboration within the blockchain community as a whole. This features an indispensable bridge, providing seamless interoperability and smooth transactions across different blockchain networks, increasing interoperability while streamlining transactions. In effect, they acts as an indispensable hub bringing multiple blockchain services together while providing an inclusive ecosystem for its users.
YouSUI Point Table
|Circulating Supply||2,690,000 XUI|
|Official Project Website||Click Here To Visit Project Website|
What Is Sui (SUI)?
Sui is a low-latency, high-throughput layer-1 chain. Its instant transaction finality makes Sui a prime candidate for on-chain use cases like DeFi and GameFi. The blockchain is programmed in Rust, a programming language with a focus on fast and secure transaction executions. Rust is also the programming language of Solana, another high-speed blockchain.
Sui’s declared goal is to “cater to the next billion users in web3” by offering decentralized application (Dapp) deployment with a superior smart contract architecture compared to rival chains like Ethereum. The blockchain utilizes a process called “transaction parallelization” to achieve that, which allows transaction processing in “parallel agreement.” This “horizontal scaling,” as Sui dubs it, leads to better data organization in the byzantine fault-tolerant proof-of-stake (PoS) consensus mechanism.
Who Are the Founders of Sui?
Sui was founded by a team of ex-Meta engineers: Evan Cheng; Adeniyi Abiodun; Sam Blackshear; George Danezis; Kostas Chalkias.
Before founding Mysten Labs, the company behind the Sui blockchain, the group of five worked in the Novi division. Mysten Labs secured backing from high-profile crypto VC funds like a16z, which invested $36 million in a Series A raise in December 2021.
Another $300 million Series B announcement followed, putting the company valuation at $2 billion. Funds with a stake in Mysten Labs include: Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital and O’Leary Ventures.
What Makes Sui Unique?
Sui aims to overtake other layer-one blockchains by employing a different consensus and transaction processing mechanism. Instead of focusing on vertical scaling, Sui aims to immediately scale horizontally, which is to lead to the promised high throughput that distinguishes the blockchain.
Sui recognizes that many transactions have no relationship with each other. Instead of having each node validate each and every transaction, nodes only look at pieces of data relevant to them. This is what Sui calls a “object-centric model,” where chain data focuses on objects instead of accounts. It abstracts the traditional blockchain model into uncorrelated transaction flows that nodes can validate individually.
First, a sender broadcasts all transactions, which are checked by relevant validators and, if a majority agrees, sent back to the sender, who broadcasts the result to all validators. The relevant ownership models are: Owned by an address (e.g. coins, or NFTs); Owned by another object (an NFT that is part of another NFT); Shared (e.g. AMM pools).This architecture allows Sui to target verticals such as NFTs, gaming, messaging services, social networks, and decentralized identity platforms.
The Vision is to remove all barriers, build decentralized technologies for financial services and make them accessible to all global users. Also, everyone in the YouSUI community will join us to make us stronger when they work together. The YouSUI team creates an environment where tokens and NFTs that users choose directly through Governance can be traded on YouSUI Launchpad, DEX, and NFT Marketplace.
The Mission is to activate the Sui Blockchain and help Dapps and WEB 3 projects on other blockchains migrate to Sui Blockchain, and allow more transactions to occur through interactions between games, guilds and communities. Our goal is to simultaneously operate a Cross-Swap, Multi-Chain Bridge, and Community-based Launchpad platform on YouSUI.
Although it is a launchpad platform operated by YouSUI blockchain, various chains can be accessed with scalability through the bridge, and users can easily access games and NFTs of various chains and get the opportunity to become early investors.
$XUI is a utility token of the YouSUI platform that can be used in Launchpad, DEX, Cross Chain Swap, Bridge, and NFT Marketplace. YouSUI governance determines the direction of the community and is directly used for voting or governance to make reasonable decisions.
By staking $XUI, the community can give their opinions or make suggestions to the community. When users stake $XUI, they are given a “Tier” to participate in IDO and INO Launchpad. A portion of the revenue generated from using DEX, NFT Marketplace and Bridge goes to $XUI stakers, and the rest goes to $XUI “Burn and Buyback”.
YouSUI is a blockchain-based platform that helps independent game developers and Blockchain Project team to raise funds by selling and pre-selling their in-game tokens or in-game NFTs, including unique ones, in the form of NFTs.
YouSUI provides the NFT Marketplace so that users can trade NFTs purchased through INO without having to move to another NFT-Marketplace. It also provides multiple transactions so that you can buy or sell multiple NFTs at once. It is designed to allow artists and general users to create their own collection pages or mint NFTs.
Beyond Sui Network
YouSUI wants to grow into a multi-chain launchpad platform that goes beyond Sui Blockchain. We will provide additional blockchain every quarter, and create 1 launchpad that integrates all blockchains. In addition, we support incubation and technical assistance so that many other blockchain games and projects can migrate into Sui Blockchain.
YouSUI creates an environment where users can provide liquidity on their own. Liquidity providers (LPs) will receive various rewards and benefits and they will be able to share a portion of the fees for activities performed within the DEX. General users can supply liquidity to selected LPs, and new LPs are created through review by the project team.
Participation of ventures and DAOs
Through own Due Diligence, YouSUI matches ventures and DAOs that can invest in order for users to succeed in investment and to fully integrate with the project community. Not only general users, but also ventures and DAO users can help the success of the project as they are simultaneously influxed into the new project.
Sui is an impressive layer-1 chain, distinguished by its ability to deliver low latency and high throughput performance. Decentralized finance (DeFi) and GameFi, where speed and efficiency are of utmost importance, make Ethereum an excellent option. It has instant transaction settlement making it ideal for use within these applications. Rust’s emphasis on swift and secure transaction execution further solidifies its status as a reliable blockchain platform.
Rust’s successful implementation on Solana, another high-speed blockchain, adds credibility and guarantees a smooth user experience for developers and users. As the blockchain ecosystem develops further, Sui’s innovative features and Rust foundation will undoubtedly contribute significantly to furthering and adopting decentralized applications and services.