Sui Lists on Bybit; Blur Launches NFT Lending Platform called Blend

Daily Hot Token—Sui (SUI)

U.S. equities fell 1% yesterday as regional banks took a tumble and investors were worried about the debt ceiling. Despite the fall in equities, the broader cryptocurrency market went up, with Bitcoin and Ether rising 2.68% and 2.14% respectively, in the past 24 hours.

SUI, a high-speed Proof-of-Stake layer 1 founded by Mysten Labs, boasts the ability to carry out over 100,000 transactions per second.

Mysten Labs was founded in September 2021 and raised a $300 million Series B round with a $2 billion valuation. They built SUI was built using a modified version of Move, an intuitive programming language created at Meta’s Diem project. After months of testing, the highly anticipated SUI mainnet is finally launching today at 8 a.m. ET. 

SUI is being listed on Bybit today; find out more here.

Check Out the Latest Prices, Charts, and Data of SUIUSDT!

Talk of the Town

Yesterday, Blur, the NFT marketplace launched Blend, short for Blur Lend, which is a peer-to-peer lending platform for NFTs. Blend helps NFTs to scale by allowing users to borrow ETH against their NFT collateral, or buy an NFT for cheap and pay the rest later. Loans have no oracle dependencies and expiration but have set amounts and rates. Lenders refinance borrowers perpetually but can initiate a refinancing dutch auction at any time, and if the loan is not repaid, the interest will increase overtime to 1000% APY at which the borrower’s NFT collateral will get liquidated to the lender. Blend collects no fees now, but this can be changed in a future proposal. Overall, due to the volatility of the NFT markets, borrowers are more at risk than lenders when it comes to using Blend.