Announcing $300M Series B Raise: Sui-nami is rising!

Resources Sui Mysten Labs Tue Aug 02 2022

Validator Registration Open

Earlier in June, we announced Sui Incentivized Testnet. We're happy to share that registration to participate in Sui Incentivized Testnet is now open! If you are a validator, developer or Sui Enthusiast, we highly encourage you to apply and join our incentivized testnet journey. Registration closes on August 15, 2022.

Validators will form the backbone of our Sui network. Each validator processing transactions and participating in consensus will enable Sui to become the most secure and safe network in the world. Our main testnet objectives include:

  • Foster a growing ecosystem for potential validator and fullnode operators
  • Establish and nurture operator behaviors to create a thriving Sui Mainnet

Incentives

  • Sui Foundation will reward validators with 2,000 SUI for each testnet ‘wave’ they participate in.
  • The Sui Foundation will commit to staking up to 10% of Sui’s token supply with the highest performing validators who continue to participate in Sui’s Mainnet.

Hardware requirements and bandwidth:

We are currently recommending: m5.2xlarge (8vCPU, 32GB RAM) + 128GB SSD

Who can participate?

To receive SUI rewards you’ll need to:

  • Be at least 18 years of age.
  • Verify your identity and complete sanctions screening with our partners at CoinList. You will receive an email with instructions on how to set up a CoinList account. If you are already a CoinList user, please use your existing account to expedite your KYC process.
  • For US participants, qualify for and verify accredited investor status.

Other program details

Distribution of SUI rewards is subject to hitting minimum participation requirements that we will share prior to the start of each testnet wave. SUI token rewards will only be provided following the Mainnet launch of the Sui protocol, and will be subject to a one-year lockup period.

 

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