Stakin is Live on Sui Mainnet

Sui

May 03, 2023

2 min read

Stakin is Live on Sui Mainnet

We are thrilled to announce that Stakin will be supporting Sui Mainnet with reliable and secure validator infrastructure. Stakin has been working on the various devnets and testnets leading up to the official launch of the Sui network, and our infrastructure is ready to generate staking rewards for our delegators.

Sui is a highly scalable and developer-friendly Layer 1 Proof-of-Stake permissionless blockchain which boasts remarkable speeds and low operating costs, plus it also supports a variety of application developments. Sui's innovative features, such as object-centric design, programmable transaction blocks, transaction processing, horizontal scalability, and Sui Move, make it a unique and exciting platform.

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Sui employs Delegated Proof-of-Stake (DPoS) to operate the network. Validators responsible for running the network are selected based on the SUI tokens staked to them, allowing maximum token holder participation in network operations.

Token holders who cannot or do not wish to run a validator can still secure the network by delegating their tokens to a validator they trust, such as Stakin. These delegated tokens add up to the validator voting power for the epoch and enable it to process more transactions.

In exchange for locking up their SUI tokens and securing the network, validators and delegators receive staking rewards in the form of SUI tokens, which are distributed to all token holders who delegated minus a small commission fee paid to the manager of the validator.

Sui launched its initial public release of DevNet on May 5, 2022. Since then, Stakin has participated in three more Testnet Waves. For Sui Testnet Wave 2, we obtained one of the Golden Medalist spots. After that, we joined the final Permanent Testnet.

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Stakin is thrilled to endorse the Sui Network as a validator among over 40 other blockchain projects, such as Solana, Ethereum, Polygon, Aptos, Polkadot, and Cosmos. We look forward to contributing to the ongoing refinement and growth of the blockchain and assisting in the achievement of its goals.

We would like to extend an invitation to institutional investors who are interested in securely holding and staking their SUI tokens. We have custody partners available to facilitate this process and ensure the utmost security. Please contact us via institutional [at] stakin [dot] com or other channels to learn more.

About Stakin

Stakin is an infrastructure operator for Proof-of-Stake (PoS) public blockchains, offering non-custodial delegation services. The company enables PoS cryptocurrency holders to earn interest on their holdings and participate in decentralized governance while remaining in possession of their cryptocurrencies.

Stakin serves institutional crypto players, foundations, custodians, exchanges, and a large community of retail token holders. Driven by institutional customers and community demand, Stakin provides services for multiple blockchains, including leading ecosystems such as Cosmos, Ethereum, Solana, Polygon, Polkadot, and more.

For more information about Stakin, visit the Website, Twitter, and Blog, or join the Telegram and Discord community.


DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the failure of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.

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