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.

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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

Crypto Insights

This well-curated report by Bybit looks at the current state of stablecoin, dives into the development of USDe, and sheds light on whether USDe can tackle what UST failed to solve.

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USDT extends its position as the market leader, with some leading stablecoins experiencing a contraction in supply. USDe stands out and has become one of the top 4 stablecoins in a short period of time. 

USDe's high yield is one feature that sets it apart. We explore its mechanism and discuss whether it is sustainable in the long term. Additionally, we compare USDe to UST and explore whether USDe can tackle what UST failed to solve.

USDT extended its position as the market leader. Of the current top 10 stablecoin supply list — of which four didn’t exist a year ago — only USDT recorded a YoY increase (~43%) of $33 billion. The others shrank in supply, including USDC, which declined ~16% YoY. The net YoY gain in stablecoin supply of $22.7 billion was, therefore, a combination of new liquidity and reallocation from other stablecoin assets. 

 has become the talk of the crypto town due to its rapid growth, driven by lucrative yields and a successful governance token airdrop. Since its launch in mid-February, USDe has become the fifth-largest stablecoin by market cap, surpassing the $2 billion mark at the beginning of April 2024.

USDe is Ethena’s stablecoin on Ethereum, backed fully on-chain by Ethereum and Bitcoin. Through its unique mechanism, it aims to be dollar-pegged and sufficiently stable, scalable and resistant to censorship. What has sparked its growth, however, is a highly attractive variable yield for holders.Despite USDe being classified as a stablecoin, Ethena Labs claims that USDe 

 in fact a stablecoin. Instead, the protocol calls it a “synthetic dollar.” Unlike USDT or USDC, USDe isn’t backed one-to-one by fiat currency (e.g., cash or short-term U.S. Treasury bills).

How Yield Is Generated? Is The Yield Sustainable?

The yield is derived from two components:

1. Staking rewards from the underlying Ethereum collateral

Part of the collateral that backs USDe is in the form of staked ETH. Ever since 

, ETH stakers have earned rewards to help 

 of the Ethereum network, typically at an annualized rate of 3–4%. At present, staked ETH forms approximately 15% of Ethena’s collateral base, with a weighted collateral yield of 0.66%.

In its early days, the Ethena team said that it would eventually include raw ETH as backing as Ethena grows in order to expand its collateral base properly, despite the resulting relatively lower yields. In fact, this — and more — has already happened with the inclusion of Bitcoin as collateral, justified by Ethena since the ETH staking yields of around 3% are rather insignificant during bull market periods.

2. Delta hedging strategy provides funding payments and basis spread

The remainder of USDe’s attractive double-digit yield is achieved through its delta hedging strategy, which involves 

. In the perpetual market, funding rates are paid by long position holders to short position holders, or vice versa, in order to minimize the spread between the futures and spot price (

Since crypto markets have historically been long-biased, short positions (e.g., Ethena’s delta hedging strategy portfolio) receive funding payments, thus providing Ethena with frequent outsized yield. Additionally, Ethena profits from the basis spread, a pricing inefficiency whereby there’s a price difference between the spot and futures markets. 

Theoretically speaking, the sources of yield are sound. The yield generated from staking Ethereum is fundamentally rooted in the premise of a 

 (PoS) network, and the delta-neutral trade strategy is a well-established practice in TradFi and crypto markets, as addressed above.

However, the yield from funding payments and basis spread has declined in recent weeks as the markets have weakened (i.e., lessened demand for ETH long positions), leading to a drop in USDe yield. Additionally, it’s theorized that as market efficiency in crypto improves, the basis spread should tighten, potentially reducing the yield further. 

How Does Ethena Tackle the Stablecoin Trilemma?

The stablecoin trilemma refers to the inherent trade-offs in the mechanics of a stablecoin. The trilemma suggests that no existing solution has fully addressed the issues of scalability, stability and decentralization, as each stablecoin design places more emphasis on certain properties over others.

Ethena Labs says that USDe directly addresses all three requirements sufficiently, and can outperform existing stablecoins in the market, thus providing economic returns that can be passed on to participants.

During UST’s heyday, many sounded the alarm about the Ponzi-like mechanism of the Anchor Protocol, which paid out 20% APY to UST holders despite not generating enough interest income to cover that. In addition, UST’s design — reliant upon the price of LUNA, with no true collateralization — was quickly proven to be inherently fragile and thus failed in periods of volatility and distress. 

As we’ve explained earlier in this article, USDe is, in comparison, theoretically grounded. Ethena’s cash-and-carry strategy, which underpins its dollar peg, is well understood and utilized in finance. The yield generated by Ethena is, unlike UST’s Anchor Protocol, clearly explained through its staking rewards via its underlying collateral and the funding payments and basis spread from the delta hedging strategy. The yield will therefore be volatile, since Ethena makes no assurances about the level of yield generated by the protocol. The fragile and convoluted nature of algorithmic stablecoins like UST simply isn’t comparable to USDe’s design.

Nevertheless, we must also acknowledge that no protocol is risk-free. While we’ve emphasized the fundamental robustness of Ethena’s design, this is specific to the financial theory of the delta hedging mechanism. There are various other risks that are exogenous to the theoretical and technical basis of the peg mechanism. Therefore, users should carefully evaluate all factors when considering Ethena. Keep in mind that the following are only some of the more notable risks we believe are associated with the protocol.

Ethena’s USDs presents a novel approach to creating a sufficiently decentralized, stable and capital-efficient stablecoin. However, its long-term viability is still subject to scrutiny, as it has yet to undergo testing during severe market conditions. From a risk profile perspective, the bottom line is that USDe with its fully-backed nature is fundamentally safer than algorithmic stablecoins such as UST. 

While USDe’s yield could hypothetically drop to zero, the yield sources are legitimate and sustainable. Ultimately, the mechanism design is inherently riskier than simple asset-backed models of USDT and USDC. Therefore, deciding which stablecoin to choose ultimately depends upon the trade-offs that one is willing to make.

State of Stablecoin: Can Ethena’s USDe Tackle What UST Failed to Solve?

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