The crypto landscape is ever-evolving, with innovations springing up faster than ever. Amidst this dynamic field, Haedal Staked SUI (haSUI) emerges as a groundbreaking yield-bearing token minted through the Haedal protocol. When you stake SUI via Haedal, you earn haSUI, a token that not only accentuates your ownership of the staked SUI but also appreciates as the staking pool garners validator rewards for securing the Sui network. Carrying all primary utilities of SUI, haSUI is seamlessly integrated and accessible across the entire Sui ecosystem, making it a revolutionary asset for both novice and experienced investors. Curious to delve deeper? Read on.
What is Haedal Staked SUI (haSUI)?
Haedal Staked SUI, abbreviated as haSUI, is a yield-bearing token minted when you stake SUI via the Haedal protocol. This token represents your ownership of the SUI staked through Haedal. As the staking pool earns validator rewards for securing the Sui network, the value of haSUI appreciates relative to SUI. haSUI retains all primary utilities of SUI and is usable across the Sui ecosystem.
Purpose and Utility of haSUI
The primary purpose of haSUI is to provide users with a convenient way to earn rewards from staking SUI without the need for active management of their staked assets. By holding haSUI, users benefit from the appreciation of the token's value as it earns validator rewards. Additionally, haSUI can be used across the Sui ecosystem, allowing users to participate in various activities while still earning staking rewards.
Addressing Key Problems
Traditional staking methods often require users to actively manage their staked assets, which can be time-consuming and complex. haSUI aims to solve this problem by offering a yield-bearing token that represents staked SUI, making staking more accessible and user-friendly. This promotes the decentralization and security of the Sui network.
Token Market Data
Understanding the market data of haSUI is crucial for potential investors. Here are the key statistics:
- Current Price: $1.6752
- Market Cap: $0.00
- 24h Price Change: 7.24%
- 7d Price Change: 1.64%
- 30d Price Change: -13.81%
- 24h High: $1.7028
- 24h Low: $1.5591
- All-Time High: $1.9793 (2024-02-15)
- All-Time Low: $1.3109 (2024-03-05)
- Circulating Supply: 0.00
- Total Supply: 10,063,645.85
How haSUI Functions Within Its Ecosystem
haSUI functions within the Sui ecosystem by providing users with a way to earn rewards through staking their SUI tokens. As the staking pool earns validator rewards, the value of haSUI appreciates compared to SUI. This allows users to maintain network participation and earn staking rewards while also engaging in other DeFi activities within the Sui ecosystem.
Unique Features and Benefits
One of the unique features of haSUI is that it allows users to maintain their staking rewards while retaining the ability to trade and transfer their tokens. This improves capital efficiency and promotes decentralization by offering greater utility for stakers. Additionally, haSUI allows users to maintain free choice of validator, ensuring control over where their staked tokens are delegated.
Tokenomics and Distribution Model
The tokenomics and distribution model of haSUI are designed to ensure a fair and sustainable distribution of tokens, encouraging participation in the DeFi ecosystem.
Total Token Supply
haSUI operates on the Ethereum blockchain with a fixed supply of 1 million tokens. The token is designed for staking in various DeFi projects to earn rewards.
Distribution Model
The distribution model for haSUI is as follows:
- 20% allocated to early contributors
- 14% distributed to investors
- 10% reserved for the Mysten Labs Treasury
- 6% for the Community Access Program and App Testers
- 50% allocated to the community reserve, which includes:
- Delegation Program: To help bootstrap community-run validators and ensure even stake distribution across the network.
- Grant Program: For developers and other participants to encourage building on Sui.
- Research and Development: To invest in further development of the protocol.
- Validator Subsidies: To subsidize staking rewards in the early stages of the network.
Vesting Periods and Lock-Ups
The distribution model includes vesting periods and lock-ups to ensure a controlled release of tokens. This helps to prevent inflation and ensures a steady growth of the ecosystem.
Mechanisms to Control Inflation
To control inflation, haSUI employs mechanisms such as token burning and staking rewards. These mechanisms help to maintain the value of the token and ensure a sustainable ecosystem.
The Team Behind haSUI
The team behind haSUI is composed of blockchain and Web3 enthusiasts with expertise in staking mechanisms, governance, and DeFi. While specific details about the team members are not provided, their expertise is evident in the design and functionality of the haSUI token.
Core Team Members
- Blockchain Experts: The team has a strong understanding of blockchain technology, particularly in the context of Sui.
- Staking and Governance Specialists: They have created a yield-bearing token that represents ownership of staked SUI tokens, contributing to the governance and decentralization of the Sui network.
- Development and Operations Professionals: The team has experience in developing and operating a liquid staking protocol on a layer 1 blockchain like Sui.
- Financial and Investment Experts: Their involvement in forums and discussions about blockchain technology and digital assets suggests a strong understanding of the financial aspects of the industry.
- Community Engagement: The team is actively engaged with the Sui community, creating a token that promotes participation and decentralization.
Notable Advisors, Partners, and Investors
While specific advisors, partners, and investors are not mentioned, the partnership with Staked, a reputable staking service provider for institutions, adds credibility to the project.
Conclusion
Haedal Staked SUI (haSUI) is a revolutionary yield-bearing token that offers a convenient and accessible way for users to earn rewards from staking SUI. With its unique features, fair distribution model, and strong team, haSUI is poised to make a significant impact in the DeFi ecosystem. Whether you are a novice or an experienced investor, haSUI provides an opportunity to participate in the Sui network while earning staking rewards and engaging in other DeFi activities.
