On the 10th of April, the Sui Network acknowledged that it would not be airdropping its tokens when the project launches in the future. On Twitter, a member of the building team at Sui called out Twitter users for spreading false information. Several Twitter threads and educational articles have been released to guide users to position for a Sui airdrop.
Notably, crypto users have been ecstatic about similar projects following the success of Arbitrum’s airdrop in March. The Sui network is a potential layer one blockchain that aims to enable creators and developers to build experiences that cater to web3 users. The network prides itself in its speed, expansive NFT utility, and ease of use for web3 users.
With the upcoming blockchain network’s numerous positive features, it seemed crystal clear that the Sui network would host an airdrop. However, the hopes of many community members were shattered when Sui denied claims of its planned airdrop.
Will Sui Make a U-Turn?
Some crypto community members still believe a token distribution may happen despite the recent developments. The foundation of this hope stems from the token distribution model of the network. According to the project’s documentation, 6% of SUI tokens would be reserved for its community access program and app testers.
In line with the distribution plans of the network, crypto users predicted that the airdrop would be given to users who utilize the testnet. Currently, the Sui network has a Google Chrome extension where testnet tokens can be claimed, and experimental transactions can be done.
Additionally, in the past, some of the biggest airdrops in the DeFi ecosystem have come as a surprise. One Twitter user noted that at some point, the dydx project denied claims of airdropping its tokens in the future. Eventually, the project airdropped tokens to early testers, becoming one of the biggest airdrops ever in the crypto ecosystem.
As it stands, it is yet to be known if the recent claim by SUI is a fact or just an attempt to divert users’ attention. Notably, the fewer the users, the larger the rewards for testers if an airdrop will ever is distributed. With SUI out of the radar for many airdrop hunters now, projects like zkSync will continue to steal the limelight.
About the Sui Team
The Sui team comprises Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias. All team members are former Meta engineers with experience in the Novi division. They established Mysten Labs to spearhead the development of Sui.
Mysten Labs received $36 million in a Series A funding round in December 2021. This was followed by a Series B funding round that raised $300 million, valuing the startup at $2 billion. Other notable funds that participated in the funding include Jump Crypto, Binance Labs, Coinbase Ventures, and O’Leary Ventures, owned by famous Shark Tank personality Kevin O’Leary.