A Different Approach to Token Distribution
Amid high anticipation for a conventional airdrop, the Sui Foundation chose a different path. Instead of a simple token giveaway, they introduced the SUI Token Community Access Program, a strategic initiative designed to reward the most dedicated early members of its ecosystem.
This program provided a special opportunity for supporters to purchase SUI tokens before the public had access, placing the network's ownership into the hands of its foundational community. Please note, this event has concluded as of May 3, 2023.
How the Program Worked
The process was structured to identify and reward genuine, long-term supporters through several key steps:
- Early Community Membership: The primary requirement was active participation in the Sui community. Specifically, users who had joined the official Sui Discord server before February 1, 2023, were considered.
- Whitelist Selection: From this pool of early members, the Sui Foundation selected a group to be whitelisted, granting them access to the token sale.
- Verification: To ensure compliance, whitelisted members had to complete mandatory Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. This was handled through official partner exchanges, including OKX, KuCoin, and Bybit.
- Token Sale: After successful verification, participants were able to purchase their allocated SUI tokens on their chosen exchange at a preferential price of $0.03.
The Strategic Shift from a Free Airdrop
The decision to pivot from a potential classic airdrop to a community sale was a significant one. This model was chosen to foster a more stable and committed user base from the very beginning. By rewarding those willing to invest, even a small amount, Sui aimed to build a foundation of stakeholders with a long-term interest in the network's success.
About the Sui Network
Sui is a high-performance Layer 1 blockchain and smart contract platform built to be fast, secure, and accessible. It leverages the innovative Move programming language and an object-centric data model, which enables parallel transaction execution, leading to high throughput and sub-second finality.
