Arrgh, let me tell ye a thing or two!
ARRRR! AHOY be the first community-backed validator on SUI, with validator rewards distributed weekly via a custom raffle platform. Ye'll be able to earn yer share of the booty by supporting the SUI Network and kickstarting our raffles.
A mighty portion of the mint proceeds will be contributed to the Validator to support the SUI Network and kickstart our raffles. Ye'll be a part of something grand, something that will make the seas of crypto a better place for us all!
The custom raffle platform will reward holders with multipliers based on the number of NFTs held. A portion of the validator rewards will be invested into other projects to facilitate the growth of the Ahoy Network and, as a result, offer increased rewards to the community via our automatic raffle system. Ye'll be able to earn more with every NFT ye have!
The validator will be supported by a leading development & infrastructure team with over 2 years of running a top 2% validator on the Solana blockchain. Ye'll be in good hands with our crew of skilled sailors, guiding the ship through the treacherous waters of crypto. So, join us and let's make some booty together!
The SUI Network, developed by Mysten Labs, is a Layer 1 blockchain that leverages a variant of the Move programming language to deliver high-throughput and low-latency transactions. With the capacity to process over 120,000 transactions per second, SUI is designed to meet the demands of modern decentralized applications.
For those interested in learning more about the technical aspects of SUI, its architecture is thoroughly described in the whitepaper and accompanying documentation. These resources provide in-depth information on how SUI operates and the technical advancements that allow for its high-performance capabilities.
Staking on the SUI network offers users the potential for high-yield returns while contributing to the network's security. The process involves delegating SUI tokens to a chosen validator. This delegation can be thought of as placing funds in a high-yield savings account in the world of Web3.
SUI operates using a Proof of Stake (POS) system, in which the delegation of SUI to validators determines the set of individuals who will process transactions and create new blocks. Each validator's stake acts as a vote of confidence, allowing the validator to confirm transactions on the network. It's crucial to understand that the validator does not have access to the delegated coins, which remain securely under the user's control and can be unstaked at any time.
Validating is a crucial network function that rewards participants based on the size of their stake. The rewards are calculated based on the SUI network's inflation rate, which decreases as the number of transactions on the network grows over time.
When choosing a validator, it is important to consider factors such as the size of the validator's stake, their track record of uptime and security, and their rewards distribution policies. It's also important to keep in mind that there is always a risk associated with staking, including the risk of misbehavior or downtime of the chosen validator. Before delegating, it is recommended to research and compare multiple validators to make an informed decision.
The Sui Mainnet officially launched on May 3rd, 2023.
By staking your coins instead of holding them in a wallet, you have the opportunity to earn an annual return of around 5.45%. Check out our validator page to see realtime APY stats.
You can follow these 4 simple steps to start staking on Sui:
- 1.Setup a Sui walletthat supports staking: Sui wallet,Suiet,Ethos walletorFewcha wallet.
- 2. Top up your wallet with Sui. Keep your wallet funded with a small amount of Sui at all times to cover transaction fees.
- 3. Within your wallet, decide how much to stake. The more you stake the more you can earn!
- 4. Choose a validator to delegate to — check out ourAHOY validatorlaunching soon.
- 5. Confirm your stake and start earning rewards!