Sui Name Service (SuiNS) enables blockchain users to register human-readable web3 names, ensuring secure, seamless transactions and a user-friendly on-chain identity.

Some people have no trouble remembering new cell phone numbers, and there are even a select few among us who wouldn't find it hard to memorize a 16-digit bank card number. However, very few people would choose to tackle the job of reliably recalling an alphanumeric blockchain address. Network addresses on 

 (ETH) are 42 characters long, while on the 

 (SUI) blockchain they span 66. These complex and length addresses are virtually impossible for most users to remember, and are among the least user-friendly features of 

 networks. Not only are long blockchain addresses distinctly user-unfriendly, but they also lead to many instances of wrongly executed transactions due to incorrectly input characters. 

Sui Name Service (NS), a solution on the Sui blockchain, has been specifically designed to tackle this problem. The service allows users to create human-readable and easy-to-remember web3 names linked to their underlying blockchain addresses. Using SuiNS, you can transact within web3 using your preferred username and, optionally, an avatar, rather than a long, complex blockchain address.

 (NS), or simply SuiNS, is a decentralized naming service that allows you to create and use a human-readable, user-friendly web3 handle to interact with the blockchain environment, instead of using a typical long and complicated network address. 

At the underlying level, your SuiNS name is linked to your blockchain address, but all the interaction and operations on the chain happen via your registered name.

SuiNS was first conceptualized and launched in 2022, inspired by the popular 

 (ENS). In many ways, SuiNS and ENS are similar, the obvious difference being that each one applies to its own respective blockchain environment. In May 2023, SuiNS was introduced on the Sui blockchain's newly launched mainnet. The service was developed and is supported by Mysten Labs, the development studio behind the Sui blockchain project. Since the beginning of the Sui blockchain's conceptualization, SuiNS has been among the core projects of the entire Sui ecosystem. As of late November 2024, SuiNS has managed to achieve the remarkable milestone of having registered nearly 330,000 names.

Using SuiNS, you can register your preferred username (as long as it's not been taken) for one year by paying a registration fee, currently charged in SUI coins. The name can be renewed at expiration for up to five years. All interactions with the blockchain environment through your wallet use your preferred username, rather than your blockchain address.

SuiNS names can be between 3 and 63 characters. Users can check the availability of their preferred handle and register it using the 

, where a lookup textbox is prominently displayed. Shorter names cost more than longer handles. As of the time of this writing (Nov 21, 2024), a three-character-long name costs 500 SUI ($1,785) and a four-character name will cost 100 SUI ($357), while names with five or more characters are priced at 20 SUI ($71.40).

A SuiNS name can only be registered for one year, but it can be renewed for up to four years (excluding the initial registration year). There's a 30-day grace period after the expiration of your SuiNS name, during which you may still renew it. If you don't renew during the grace period, your registered name will be up for grabs by anyone on the market. Optionally, you can buy an NFT avatar linked to your SuiNS name.

 (DApp) ecosystem on the Sui blockchain. Developers can use off-chain remote procedure calls (RPCs) to integrate the Sui service into their application environments. They can also take advantage of the native, on-chain SuiNS SDK to interact with the service.

Thanks to SuiNS, you can enjoy short, comprehensible names for your own address, as well as the addresses of the parties with whom you transact (if they also sign up for the service). No more forgettable string combinations that are hard to read and virtually impossible to remember!

However, a SuiNS name isn't just a tool of convenience. It also represents your decentralized identity on-chain. The identity is fully owned by you, the user, rather than by a centralized entity.

SuiNS minimizes the likelihood of lost assets due to sending funds to the wrong address: short, easy-to-remember names are way less prone to incorrectly executed transactions than standard blockchain addresses.

Security is also among the benefits of SuiNS. The service runs on the Sui chain, which prides itself on developing and enforcing high-grade security standards. Among these are 

, a framework that maintains a list of malicious websites and on-chain assets, thus protecting the Sui ecosystem from 

 launched by these known nefarious entities.

The SuiNS service launched its native token, NS, on Nov 14, 2024. Initially, NS is envisioned to support 

 processes on the platform, and will also be used for purchasing and trading SuiNS names. Currently, names are traded using SUI, the blockchain's native cryptocurrency. It's likely that NS will replace SUI in this capacity in the near future. The project team has also hinted that there could be additional uses for the NS token beyond governance and payment for SuiNS names. More announcements on this issue are likely to follow.

During the initial phase of the token's existence, governance will be its most prominent function. Holders of NS will be able to vote on important issues concerning the protocol's rules and future direction. One NS equals one vote, with more NS tokens giving you a greater say in the overall decision-making process. You can also increase your voting power by locking your NS tokens for from one to 12 months. For every additional month locked, you obtain 10% voting power. To encourage voting, 5% of the NS token's supply has been allocated for governance rewards. NS is a 

 token, with a total and maximum supply set at 500 million. The token's supply distribution shares are per the chart below.

NS is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token to grab a share of the 

. Three campaign events for eligible users run through Nov 27, 2024, 8AM UTC:

Thanks to Sui Name Service, interacting on-chain has become easier and more user-friendly. However, easy-to-remember names aren't the only benefit: advantages also include lower likelihood of lost funds, better security and a completely decentralized, user-owned identity on-chain. So far, around 330,000 names have been registered, and with the impressive suite of benefits, expect this number to grow as we move with SuiNS into 2025.

Intermediate

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Sui Name Service (NS): Your On-Chain Identity Made Simple

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

market maker.png

Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

DeFi

GameFi

web3

Earn-and-play, collect NFTs and stake $ILV. Here, we take a look at the Illuvium game, how it works, and what you can do with its assets. Earn-and-play, collect NFTs and stake $ILV. Here, we take a look at the Illuvium game, how it works, and what you can do with its assets.

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Blockchain games have evolved by leaps and bounds over the last few years, going from games for simple non-fungible token (NFT) collectibles like CryptoKitties to fully fleshed-out play-to-earn games, where players can farm crypto and NFTs that can be traded on the market. 

Illuvium is the latest blockchain gaming sensation to take the crypto world by storm. It’s an open-world sci-fi role-playing game (RPG), monster collector and auto battler built on Ethereum, scheduled to be released on Mac and PC in 2022. 

The game features a play-to-earn structure. Players can earn in-game crypto token rewards by participating in competitions and quests. It uses the blockchain to guarantee the collectibility of in-game items and create a working digital economy. In this guide, we’re going to take a look at what Illuvium is, how it works, and what you can do with its assets.

Illuvium is a role-playing game (RPG) that allows players to create 3D characters for real-time, character-focused gameplay in an open-world setting. Players can traverse the alien world of Illuvium and participate in quests to uncover the mysteries of the planet, hunt and capture native creatures called Illuvials, earn in-game rewards, and stake their assets in a decentralized, zero-fee framework.

In Illuvium, players can interact with items and Illuvials. These in-game assets — including skins, items, emotes and collectibles—exist as 

 that are stored in player wallets. In simplest terms, NFTs are cryptographically unique digital assets that are written using smart contracts, making it easy to trace individual ownership. NFTs which players acquire from playing Illuvium can be traded in-game, or on Illuvium’s decentralized exchange, IlluvDEX, and third-party platforms like OpenSea. 

The Illuvium platform’s native ERC20 token, ILV, is available on crypto exchanges. Players don’t need to hold tokens to play Illuvium. In fact, the game is free to play in 

 regions. The main functions of ILV tokens are governance, liquidity mining and vault distributions. The game is completely decentralized and features a governance structure that revolves around the ecosystem’s native coin. 

Play-to-earn games such as Illuvium are commonly referred to as 

, which is a portmanteau of “Game” and “Finance.” They represent an entirely new class of blockchain games that reward players who complete quests or participate in tournaments with something tangible, albeit digital, for putting in the time and effort to play. 

Illuvium isn’t the first play-to-earn blockchain game to enter the market. In 

, players can collect, trade and battle pets, and create kingdoms for them to live in. 

, scheduled to debut in spring 2022, takes its inspiration from popular multiplayer builder games like Minecraft. 

What sets Illuvium apart from these blockchain gaming titles is its 3D open world with a massive explorable landscape, high production value NFTs and carefully crafted storytelling, which gradually reveals parts of the plot as players progress. It’s specifically designed to appeal to video game aficionados and players who enjoy big-budget AAA-rated game titles. In comparison, Axie Infinity is a quirky 2D game that’s more akin to Pokémon, and My Neighbor Alice is a 2D farm builder that shares a lot of similarities with Animal Crossing. 

If Illuvium manages to make good on its promises and deliver, it could potentially become the first successful AAA-rated game ever built on the blockchain — ushering in a new era of synergy that merges online gaming with cryptocurrencies. 

Naturally, Illuvium has generated a lot of buzz among gamers by offering crypto enthusiasts the first-ever AAA-rated blockchain gaming experience on the Ethereum blockchain. Since there are currently no immersive open-world RPG games with quality 3D special effects in the crypto universe, it’s a significant step up from simple NFT-collectible games like CryptoKitties. 

Within the in-game world, players take on the role of a member of a transport ship from an intergalactic space fleet, investigating a distress beacon from a mysterious ruined planet that’s almost completely covered by a vast crystal ocean. An extreme weather event on the surface of the planet creates a burst of radiation that disables the ship’s engines, causing it to crash-land on the planet’s surface.

Your character is the only survivor of the wreckage. As you explore the land around you, you discover majestic creatures with godlike elemental powers. Fortunately, your race has already mastered similar energies, so you’re able to capture and control these creatures, called Illuvials, and store them in slivers of crystal called “shards.”

To uncover the mysteries of this strange planet, characters take on the role of a hunter and travel across the land to capture Illuvials and unlock obelisks that grant access to new, more challenging regions on the planet. 

More than 100 Illuvials populate the planet, each with unique stats and abilities. Some are easy to find, while others are incredibly rare. These deity-like creatures are divided into a variety of classes (Fighter, Rogue, Guardian, Psion and Empath), and have elemental affinities (water, air, fire, earth and nature) that dictate their abilities. 

The successful capture of an Illuvial results in the minting of a new NFT that’s stored in the player’s wallet. The creatures can synergize and form symbiotic relationships with one another, based on common classes or affinities. Different synergies create different bonuses. Players can fuse multiple captured Illuvials to make them evolve into more powerful forms. This is achieved with a burning mechanism which destroys their source NFTs, and mints a new one that represents a more powerful beast. 

Illuvium is also an auto-battler game. Hunters are encouraged to use their upgraded Illuvials to build the ultimate fighting team and battle other characters’ Illuvials in player-versus-environment (PvE) and player-versus-player (PvP) battle arenas. Players earn rewards and maintain a winning streak to acquire the rank of best hunter on the planet. Training your team through combat will make them level up and grow stronger as they develop their powers. 

Players can also earn in-game rewards in the form of ILV tokens by completing quests or participating in competitions. In-game assets and ILV tokens can be traded on IlluviDEX, the in-game marketplace. 

The game is still in development and some of the details above are subject to change. 

Illuvium released a cinematic gameplay trailer in October 2021. A full trailer release is slated for November 2021. Watch the first gameplay trailer below to get a taste of what the world of Illuvium will look like from a player perspective: 

Illuvium is expected to launch its public beta in Q1 2022. The developers haven’t yet released an exact date, but according to the 

, the first Illuvium title will be released on PC and mobile in 2022. A second title is tentatively scheduled for 2023.

, which is an advanced real-time 3D creation tool.

Battles in the game occur in a simulation coded in C++ that’s hooked up to Unreal Engine to create stunning visual elements and ensure game instances are executed in a matter of milliseconds. The game also features a cinematic mode (showcased in the gameplay trailer) that allows players with less powerful machines to render matches in high quality. 

Every region within the game world features assets created by professional digital artists. The game uses proprietary technology to seamlessly render these assets, achieving a cinematic feel with a fast graphics load time. 

, its back end is hosted on infrastructure provided by Amazon Web Services (AWS). Core back end services are built using a serverless model with 

 to enable cost-effective, unlimited scalability.

All of the above sounds like what you’d expect from a standard modern game — which begs the question: Why is Illuvium opting for 

, the primary goal of the project is to create a fully decentralized and autonomous game. DeFi projects have experienced tremendous growth over the past year, and the developers are hoping to leverage this growth to bootstrap a platform that can hit the ground running. 

There are currently no AAA-rated games offering an immersive open-world experience with cinematic quality 3D graphics on the blockchain. Illuvium is poised to capture that market by merging cryptocurrency and gaming in a way that’s alluring for hardcore gamers, crypto enthusiasts and the general public.

NFTs on Illuvium represent verifiably unique entities which exist inside the game. One of the biggest selling points of Illuvium is that its NFT transactions are instant — and require zero gas fees. Illuvium is integrated with

, which gives it Layer 2 scaling capabilities. That means it can support fast transactions, and requires no gas fees. 

Digital media in the crypto space have long struggled with slow transaction speeds and high gas fees, pushing the Ethereum network’s transaction throughput to its limit. Immutable X is a project that’s specifically seeking to increase transaction throughput in blockchain gaming systems. 

 (or zk-rollups) to enable players to securely maintain the self-custody of NFTs while scaling the network to over 9,000 

. Immutable X is considered one of the best solutions for scaling Ethereum, and the technology it uses has even been endorsed by Ethereum co-founder Vitalik Buterin in his 

Immutable X is essential for making the exploration of the Illuvium world efficient and free of distractions, such as constant gas fees and transactional delays. This scalability gives players the freedom to explore, collect, battle and earn. There’s already a collection of cosmetic and promotional NFTs that have been 

 token that exists on the Ethereum blockchain. Its function as an in-game reward is pretty self-explanatory, and it’s not required for gameplay, so we’ll focus on its other uses in this section. ILV tokens have two core functions: 

All in-game purchases in Illuvium require Ether (ETH), not Illuvium token (ILV). ETH will function as the primary currency for Illuvium for the foreseeable future. 

Illuvium has an additional token called sILV, which stands for Synthetic ILV. As the name implies, it’s a synthetic version of ILV that’s used as in-game currency; however, it can’t be used for player-to-player transactions, such as buying or selling Illuvials. Anyone can earn sILV by staking ILV in the protocol. The value of sILV is pegged to the value of ILV. 

 to increase community engagement and decentralize the DAO. ILV holders have the option to stake and lock up their tokens in a smart contract to access the liquidity mining program. Through yield farming or liquidity mining, a person lends their crypto to a protocol to help keep its funding pools liquid. In exchange, the lenders earn lucrative incentives. 3 million ILV have been set aside for yield farming rewards. 

Illuvium’s liquidity mining program creates a more liquid and transparent market for trading ILV. It has two core staking pools and flash pools, where users can stake their tokens to earn additional earn rewards. Let’s break that down:

Users who stake in the core pools have the option to lock their tokens for a period of up to one year to increase their token weight. The higher your token weight, the higher your ILV token distributions. You essentially compound your rewards if you opt to lock up your tokens for a year. 

The rewards for users who choose to lock up their coins are escrowed for the duration of the lockup period. Staking users who don’t want to wait can choose to instantly claim their rewards in sILV, which again is pegged to the price of ILV and only functions inside the game. 

Even though ILV only hit the market in March 2021, it’s already available on numerous top cryptocurrency exchanges with good trade volume. Illuvium’s price managed to reach an all-time high of $2,868.95 in May 2021, and in November 2021 its 

 reached an astonishing $838 million. There’s a lot of demand for the token in anticipation of the official launch of Illuvium in Q1 2022. 

Illuvium is the most ambitious blockchain game announced to date, and the first to offer an AAA-rated gaming experience on the blockchain. As a fully decentralized protocol, it represents a new age in gaming where players can earn distributions and vote on issues related to the game itself. There’s a lot of hype around the project, and for good reason. It’s definitely worth keeping an eye on this ambitious project. 

Keen to find out more play-to-earn crypto games and more? Here’s our esssential guide to 

Illuvium Game: Collect NFTs, Earn ILV and Stake Tokens

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards