RaccoonHKG
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7 Random Thoughts on Sui/Cetus + A Bit of Opinion on Token Prices
1. The Sui team’s ability to manage their own token is top-notch in the industry. This isn’t just about the recent price increase; since the TGE, they have been spending wisely—spending but not excessively. The ecosystem won’t starve but also won’t be overfed. Binance doesn’t gain too much advantage, and they have negotiated good terms for infrastructure like native stablecoins and bridges. This is an obvious advantage, better than Ethereum/Solana.
2. This is a hard injury to the ecosystem. Some ecosystem projects will adopt more conservative strategies, and those migrating/expanding from outside will start to delay. There’s even the fear that issues might affect the brand of other chains, leading to migration/expansion plans being stillborn. Such events will impact the number and intensity of potential catalysts (in the past, you could imagine something like MakerDAO moving to Solana happening with Sui; can you imagine that now?)
3. It’s a hard injury, but not a fatal one. I’ve been to Sui Basecamp, and while the atmosphere is planned and economic, there’s no visible corruption. This atmosphere is rare. It’s unlikely that a mass retreat of native projects will occur; even if various resources take a year or two to materialize, people won’t disperse quickly, especially since other Move-based public chains are dying out with no escape routes.
4. For $SUI, the ecosystem is a side dish; the $SUI token is the main course. The negative impact on the main course's chip aspect is controllable this time, as it has capped the upper limit (it’s difficult for any main course on a limited menu to be fine dining). This doesn’t mean it’s going to fail completely. Just like during BSC’s quietest times with various hacks and exits, the main course (especially Binance Exchange and Launchpad) didn’t have issues, which won’t affect Binance's fundamentals too much, and they won’t break down.
5. The culture of mutual aid in the ecosystem should be established like a crowdfunding model, where each ecosystem participant donates ten or eight dollars to those Cetus victims. In Solana’s case, examples are $BONK and Mad Lads, relying on asset airdrops, community donations, and traffic support to build culture. Thankfully, this time no other projects have openly engaged in kicking others while they are down; this is the accumulation of regular building by ecosystem project parties.
6. Emotional blackmailing speculators who buy the dip on collapsing tokens is unacceptable behavior. You can’t expect users to think from the project’s perspective, and I see a tone that treats those who bought ecosystem tokens at low prices as accomplices to hackers. Even if it facilitates transactions, the damage to the overall ecosystem culture will be greater than rescuing these projects. What’s more important is to facilitate connections rather than transactions. Aligning the interests of speculators and project parties, rather than emotionally blackmailing them for “discount price” OTC tokens. This requires transparency and commitment from the project parties towards large speculators, promising to continue the project rather than deceiving them and leaving with the tokens they speculated on. The burden of proof and persuasion lies with the project party, not with the community leaders or lucky speculators, and speculative behavior should definitely not be seen as collusion (don’t label me, I didn’t participate in speculative crashes of ecosystem tokens).
7. I understand the behavior of coordinating various validators and project parties to freeze assets. Sui is not Ethereum; Sui’s genetic heritage comes from Meta’s Libra, which doesn’t require a high degree of decentralization. Moreover, this coordination is different from rollback or data manipulation in databases. It’s not sufficiently decentralized but fits its own positioning. After all, they haven’t claimed a convincing narrative of an absolutely decentralized world computer, but that doesn’t mean it can become a server chain. They must be more decentralized than servers and than BNB Chain, and they need to convince external communities (not only the Sui community/Move community). These matters require following some decentralization procedures and PR efforts, and afterward, sincerely finding some technical bloggers to help smooth things over. The founder should come out and say something like “this is a one-time exception,” and PR damage can be controlled.
Lastly, I can’t help but express my opinion on token prices. I don’t believe there will be a significant sell-off, but if you try to push it up now, the number of followers will also be limited. There’s a strong mental anchor already planted in the potential buyers' and TVL’s minds around the $4 mark. It’s tough to remove it without time, and there’s no way to divert attention with narratives or good news. Without buyers, even a small amount of selling pressure due to other expenses will lead to a downward trend.
1. The Sui team’s ability to manage their own token is top-notch in the industry. This isn’t just about the recent price increase; since the TGE, they have been spending wisely—spending but not excessively. The ecosystem won’t starve but also won’t be overfed. Binance doesn’t gain too much advantage, and they have negotiated good terms for infrastructure like native stablecoins and bridges. This is an obvious advantage, better than Ethereum/Solana.
2. This is a hard injury to the ecosystem. Some ecosystem projects will adopt more conservative strategies, and those migrating/expanding from outside will start to delay. There’s even the fear that issues might affect the brand of other chains, leading to migration/expansion plans being stillborn. Such events will impact the number and intensity of potential catalysts (in the past, you could imagine something like MakerDAO moving to Solana happening with Sui; can you imagine that now?)
3. It’s a hard injury, but not a fatal one. I’ve been to Sui Basecamp, and while the atmosphere is planned and economic, there’s no visible corruption. This atmosphere is rare. It’s unlikely that a mass retreat of native projects will occur; even if various resources take a year or two to materialize, people won’t disperse quickly, especially since other Move-based public chains are dying out with no escape routes.
4. For $SUI, the ecosystem is a side dish; the $SUI token is the main course. The negative impact on the main course's chip aspect is controllable this time, as it has capped the upper limit (it’s difficult for any main course on a limited menu to be fine dining). This doesn’t mean it’s going to fail completely. Just like during BSC’s quietest times with various hacks and exits, the main course (especially Binance Exchange and Launchpad) didn’t have issues, which won’t affect Binance's fundamentals too much, and they won’t break down.
5. The culture of mutual aid in the ecosystem should be established like a crowdfunding model, where each ecosystem participant donates ten or eight dollars to those Cetus victims. In Solana’s case, examples are $BONK and Mad Lads, relying on asset airdrops, community donations, and traffic support to build culture. Thankfully, this time no other projects have openly engaged in kicking others while they are down; this is the accumulation of regular building by ecosystem project parties.
6. Emotional blackmailing speculators who buy the dip on collapsing tokens is unacceptable behavior. You can’t expect users to think from the project’s perspective, and I see a tone that treats those who bought ecosystem tokens at low prices as accomplices to hackers. Even if it facilitates transactions, the damage to the overall ecosystem culture will be greater than rescuing these projects. What’s more important is to facilitate connections rather than transactions. Aligning the interests of speculators and project parties, rather than emotionally blackmailing them for “discount price” OTC tokens. This requires transparency and commitment from the project parties towards large speculators, promising to continue the project rather than deceiving them and leaving with the tokens they speculated on. The burden of proof and persuasion lies with the project party, not with the community leaders or lucky speculators, and speculative behavior should definitely not be seen as collusion (don’t label me, I didn’t participate in speculative crashes of ecosystem tokens).
7. I understand the behavior of coordinating various validators and project parties to freeze assets. Sui is not Ethereum; Sui’s genetic heritage comes from Meta’s Libra, which doesn’t require a high degree of decentralization. Moreover, this coordination is different from rollback or data manipulation in databases. It’s not sufficiently decentralized but fits its own positioning. After all, they haven’t claimed a convincing narrative of an absolutely decentralized world computer, but that doesn’t mean it can become a server chain. They must be more decentralized than servers and than BNB Chain, and they need to convince external communities (not only the Sui community/Move community). These matters require following some decentralization procedures and PR efforts, and afterward, sincerely finding some technical bloggers to help smooth things over. The founder should come out and say something like “this is a one-time exception,” and PR damage can be controlled.
Lastly, I can’t help but express my opinion on token prices. I don’t believe there will be a significant sell-off, but if you try to push it up now, the number of followers will also be limited. There’s a strong mental anchor already planted in the potential buyers' and TVL’s minds around the $4 mark. It’s tough to remove it without time, and there’s no way to divert attention with narratives or good news. Without buyers, even a small amount of selling pressure due to other expenses will lead to a downward trend.
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On a sunny morning in the imitation village
The air is sweet too
Take a cold shower
Eat two eggs
Drink a cup of black coffee
The US stock market closes
Before bed, it went up a bit again
Fortunately, no take profit
The Hong Kong stock market opens
And it went up too
Imitation coins
Each one is rising
The slow ones are still complaining about underperforming
Sigh
An unsatisfied self
Slaps myself in the face
Went out to exercise
Without taking my phone
When I come back, the market should be up again
The greedy little dog should not be unsatisfied
It should stop after earning enough
Woof woof
The air is sweet too
Take a cold shower
Eat two eggs
Drink a cup of black coffee
The US stock market closes
Before bed, it went up a bit again
Fortunately, no take profit
The Hong Kong stock market opens
And it went up too
Imitation coins
Each one is rising
The slow ones are still complaining about underperforming
Sigh
An unsatisfied self
Slaps myself in the face
Went out to exercise
Without taking my phone
When I come back, the market should be up again
The greedy little dog should not be unsatisfied
It should stop after earning enough
Woof woof
Mindshare begins with network.
True networks are decentralized.
The first creator network is back on @cookiedotfun, rewarding what matters: trust, impact, and intent.
Decentralized InfoFi is here & I'm in.
Are you?
https://cookie.fun/accounts/66bb39aad2c43d17651f5d15
True networks are decentralized.
The first creator network is back on @cookiedotfun, rewarding what matters: trust, impact, and intent.
Decentralized InfoFi is here & I'm in.
Are you?
https://cookie.fun/accounts/66bb39aad2c43d17651f5d15
See original
Microsoft's Two Endorsements, Space and Time @SpaceandTimeDB Leads Web3 Data Verification
As Space and Time officially lands on Binance Launchpool, this innovative platform, strategically invested in by Microsoft in 2022 and 2024, is reshaping the industry standards for blockchain data indexing and verification.
Based on a decentralized database verification node network, Space and Time enables project teams to perform zero-knowledge proofs (ZK Proofs) on query results using the open-source Proof of SQL technology. This innovation means verifiability of data queries, with each query accompanied by cryptographic proof, ensuring that the data has not been tampered with, significantly enhancing the reliability and transparency of the data.
Compared to traditional multi-chain data indexing solutions like The Graph and Covalent, Space and Time's greatest advantage lies in the verifiability of query results. Traditional protocols only provide data APIs, making it difficult to prove data authenticity; Space and Time generates zero-knowledge proofs for each query result, completely eliminating the possibility of fraud by centralized nodes.
At the same time, Space and Time has a lower development threshold, allowing developers to query directly using standard SQL syntax, and Proof of SQL has already been integrated into mainstream cloud data analysis platforms like Google BigQuery, seamlessly connecting with existing development processes.
According to official data, Proof of SQL can handle over 1 million lines of data proofs per second, supporting the real-time query and verification needs of large-scale Web3 applications. They not only support mainstream public chains like Ethereum, Solana, and BNB Chain but also integrate on-chain and off-chain data, empowering various application scenarios such as DeFi, GameFi, and supply chains.
With the triple assurance of data credibility, usability, and efficiency, Space and Time is expected to become an important component of Web3 data infrastructure.
As Space and Time officially lands on Binance Launchpool, this innovative platform, strategically invested in by Microsoft in 2022 and 2024, is reshaping the industry standards for blockchain data indexing and verification.
Based on a decentralized database verification node network, Space and Time enables project teams to perform zero-knowledge proofs (ZK Proofs) on query results using the open-source Proof of SQL technology. This innovation means verifiability of data queries, with each query accompanied by cryptographic proof, ensuring that the data has not been tampered with, significantly enhancing the reliability and transparency of the data.
Compared to traditional multi-chain data indexing solutions like The Graph and Covalent, Space and Time's greatest advantage lies in the verifiability of query results. Traditional protocols only provide data APIs, making it difficult to prove data authenticity; Space and Time generates zero-knowledge proofs for each query result, completely eliminating the possibility of fraud by centralized nodes.
At the same time, Space and Time has a lower development threshold, allowing developers to query directly using standard SQL syntax, and Proof of SQL has already been integrated into mainstream cloud data analysis platforms like Google BigQuery, seamlessly connecting with existing development processes.
According to official data, Proof of SQL can handle over 1 million lines of data proofs per second, supporting the real-time query and verification needs of large-scale Web3 applications. They not only support mainstream public chains like Ethereum, Solana, and BNB Chain but also integrate on-chain and off-chain data, empowering various application scenarios such as DeFi, GameFi, and supply chains.
With the triple assurance of data credibility, usability, and efficiency, Space and Time is expected to become an important component of Web3 data infrastructure.
See original
The 1% Miracle Mine of Daily Chemicals
$sUSD @SNX_Exchange
The logic behind mining is
@kaiynne and @infinex as well as Australian luxury homes
are all low liquidity and cannot be exited immediately
and the scale of $sUSD is only a few tens of millions
it takes less than 5m to pull back the peg
There is no incentive to tear apart and give up future benefits
The most miraculous mine is in the least noticed place
$sUSD @SNX_Exchange
The logic behind mining is
@kaiynne and @infinex as well as Australian luxury homes
are all low liquidity and cannot be exited immediately
and the scale of $sUSD is only a few tens of millions
it takes less than 5m to pull back the peg
There is no incentive to tear apart and give up future benefits
The most miraculous mine is in the least noticed place
See original
The Divine Mine of 1% Daily Chemicals
$sUSD @SNX_Exchange
The logic of mining is
@kaiynne and @infinex and Australian mansions
And the volume of $sUSD is only a few tens of millions
With less than 5m, it can pull back the peg
No incentive to tear the face
The most divine mine is in the least noticed place
$sUSD @SNX_Exchange
The logic of mining is
@kaiynne and @infinex and Australian mansions
And the volume of $sUSD is only a few tens of millions
With less than 5m, it can pull back the peg
No incentive to tear the face
The most divine mine is in the least noticed place
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