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InfStones Participates in SUI Wave 2 Testnet


InfStones Participates in SUI Wave 2 Testnet
Feb 16,2023|Clients
InfStones Participates in SUI Wave 2 Testnet

InfStones is proud to announce that we are participating in the SUI Wave 2 testnet. SUI is a permissionless, decentralized Layer 1 blockchain that is designed to enable developers and creators to easily build incredible experiences for Web3 participants. It’s a massive project with over $300 million in funding. The SUI blockchain has horizontal scalability, instant finality, and very low fees. It can be used to build dynamic on-chain assets in a wide variety of industries, including gaming, finance, and many more.

What is the Wave 2 Testnet?

The Wave 2 testnet is the second of four waves that are designed to stress test SUI’s network. In these stress tests, participants will interact with the network so SUI can make sure that its tokenomics design and implementation are sound. If any errors or bugs are revealed during the stress test, then SUI can fix them before its mainnet goes live.

How InfStones is Participating

For the Wave 2 testnet, SUI invited community members to participate in novel Web3 games that were intentionally designed to cause huge fluctuations in the validator stake distribution and the reference gas price from epoch to epoch.

InfStones played the Validator Game. For this game, players were encouraged to adjust the minimum gas price to respond to simulated external factors including SUI price fluctuations.

InfStones was happy to participate in the Validator Game in order to help SUI test its network. We consider SUI to be one of the most promising new blockchains out there, and we’re excited to be a member of their ecosystem.

The SUI Ecosystem

The SUI ecosystem consists of three main types of participants:

  • SUI Users - Users make transactions, develop projects, and use smart contracts on the SUI blockchain.
  • SUI Token Holders - These are people who own SUI’s native token, which is called SUI. Token holders are allowed to participate in governance and/or stake tokens to help secure the network and earn rewards.
  • Validators - Validators process and validate transactions on the SUI network to make sure that it remains secure and operates smoothly.

SUI Token Details

The total supply of SUI tokens will be 10 billion. 50 percent of the total supply will be designated to the community reserve and 20 percent will be allocated to early SUI contributors. Another 14 percent will go to investors, 10 percent will go to the Mysten Labs Treasury and finally, 6 percent will go to the community access program and app testers.

SUI Staking and Rewards

Once the mainnet goes live, SUI holders will be able to stake their tokens by delegating them to validators. After the tokens are delegated, they will remain locked for the entire epoch. Once the epoch changes, holders can unstake their SUI tokens and change validators if they would like.

SUI holders who stake their tokens will earn rewards for helping to secure the network. Rewards are derived from gas fees and are issued at the end of each epoch.

The Future of SUI

SUI still has several additional waves of its testnet to complete. If all the stress tests go well, then the SUI blockchain will go live. However, if any issues pop up during the remaining stress tests, then SUI will have to address these before its mainnet goes live. InfStones plans to keep participating in the SUI testnet waves and to provide the network with any and all infrastructure support that it requires.

You can learn more about SUI here.

About InfStones

InfStones is an advanced, enterprise-grade Platform as a Service (PaaS) blockchain infrastructure provider trusted by the top blockchain companies in the world. InfStones’ AI-based infrastructure provides developers worldwide with a rugged, powerful node management platform alongside an easy-to-use API. With over 20,000 nodes supported on over 80 blockchains, InfStones gives developers all the control they need - reliability, speed, efficiency, security, and scalability - for cross-chain DeFi, NFT, GameFi, and decentralized application development.

InfStones is trusted by the biggest blockchain companies in the world including Binance, CoinList, BitGo, OKX, Chainlink, Polygon, Harmony, and KuCoin, among a hundred other customers. InfStones is dedicated to developing the next evolution of a better world through limitless Web3 innovation.