Crypto Project Research is a superpower.
Consistency is the key ingredient. That‘s why I‘m looking daily at new vc backed projects
🧵Today's project: Sui by @Mysten_Labs
A promising layer 1 challenging $eth $sol $near $atom $dot
🧵Company:
@Mysten_Labs
1 . Narrative
2. Industry
3. Venture Capital
4. Team
5. Details
6. My Opinion (Invest, Watchlist, Strategy)
7. TLDR
#altcoin #Layer1 #SOL #ATOM #eth
#Bitcoin #BTC #100xGems #NEAR #Aptos #NFTGiveaways #BNB $bnb #Cardano $ada
🧵1. Narrative
Sui was born from the downfall of Diem; Facebook’s failed attempt at creating a blockchain.
It inherited Diem’s opensource codebase and was founded by former Facebook engineer Sam Blackshear, who raised hundreds of millions to create the next gen blockchain.
🧵2. Industry: Layer 1 Blockchain
A crypto ecosystem's foundational structure is a layer 1 blockchain. NFT, DeFi, and web3 projects, for instance, are layer 2 projects that were created on top of layer 1 blockchains, e.g Ethereum.
⬇️
#Layer1 #blockchains #ETH #SOL
In general, layer 1s serve as a settlement layer and offer network security
Scalability, security, and decentralization are the three main domains in which smart contract platforms (layer1 chains) compete, also known as blockchain trilemma, since its difficult to excel in all 3
🧵3. Venture Capital
@Mysten_Labs
raised $336 million from 20+ investors
Investors include:
@coinbase
@FTX_Official
@BinanceLabs
@jumpcapital
@a16z
If none of the the names tell you anything, you need to learn what vcs founded good projects.
#Gems #research
🧵4. Team
Evan Cheng, CEO: Formerly Head of R&D at Novi and Director of Engineering (Programming, Languages & Runtime) at Meta; previously Apple for 10 years
Sam Blackshear, CTO: Formerly Principal Engineer at Novi, focusing on the Move programming language
#sui #Aptos #zil
Adeniyi Abiodun, CPO: Formerly Product Lead at Novi, Meta; previously VMware, Oracle, PeerNova, HSBC, JP Morgan
George Danezis, Chief Scientist : Formerly Research Scientist at Novi, Meta; previously Chainspace, Microsoft
#CryptoInvestor #Cryptos #FTX #Alameda #GameFi
🧵5. Details
Sui uses a unique programming language:
"Move" is an open source language for writing safe smart contracts. It was originally developed at Facebook to power the Diem blockchain.
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Why?
@Mysten_Labs tries to tackle fundamental problems with the current smart contract platforms. Such as:
-Smart Contracts have too many failure points and can not be used cross-platform
-On-Chain Storage is inefficient, results in high gas costs, and has low throughput
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Sui will execute transactions parallel, with the ability to execute them in order if necessary.
Because of this, simple transactions can be validated instantaneously, whereas complex ones take a few seconds.
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Sui will use MOVE to address the storage issue by concentrating on objects rather than accounts.
Tokenomics
Symbol: $SUI
10 billion fixed supply; no token emissions.
At mainnet launch, a portion of the total supply of $SUI will be available for purchase; the remainder tokens will vest over the following years or be given away as future stake reward subsidies.
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No burn or deflationary mechanism
Token Utility:
Staking for network security, transaction fees, storage costs, governance votes and medium of exchange
🔥My Opinion🔥
#SUI and #Aptos are hailed as the two next generation blockchains. With both of them being born from Metas project Libra and having massive funds this will turn into a battle of rivals.
Even if the massive valuations of 1 billion
⬇️
might scare some investors away, you have to be a fool to ignore what is brewing here. The blockchain landscape is changing constantly and you have to adapt accordingly. The blockchains of today might not be the winners of tomorrow.
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Also new ecosystems come with a wealth of new dapps investors can capitalize on. Depending on #SUI adoption rate I'm certainly looking to invest in it's upcoming ecosystem projects, before investing in SUI itself.
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I add SUI to my layer1 watchlist (strong watch) and observe how the narrative plays out. Depending on price and current macro outlook I might invest further down the road. Keep an eye out for projects that want to build on #SUI
🧵6. TLDR
Narrative: Layer1 Ecosystem, Next gen blockchain
Industry: Infrastructure, Blockchain
Venture Capital: FTX, Coinbase, a16z
Team: Ex Meta, (Diem)
Opinion: +strong watch, +tons of opportunities for ecosystem investments, - high valuation, keep up to date with changes
That's a wrap!
I hope you enjoyed this
Let me know if you want more early stage research
Like, Follow and Tweet are highly appreciated.
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