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

Bybit Learn

Altcoins

ATOM 2.0 has been gaining traction in the crypto space recently thanks to its ambitious road map, read on to find out what their new whitepaper is all about.

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The recent Cosmosverse event announced a highly anticipated Cosmos Hub white paper. Known as 

, the new road map goes through several key details on changes to the Cosmos Hub and how this would impact the 

This overall vision is known as the 'Internet of blockchains' and is coming to fruition with the implementation of this road map. Today, multiple sovereign blockchains are able to communicate with each other and improve the 

 is one prime example of a blockchain that has a 

 that allows you to swap various Cosmos assets that were sent in from other Cosmos chains and can eventually be integrated with other protocols. Another example would be 

 for the entire Cosmos ecosystem that leverages the interoperability and composability provided by Cosmos.

Now that you have some context, let's compare the difference between ATOM 1.0 and ATOM 2.0, and take a look at the future of Cosmos.

Building The Foundation Of Cosmos Hub — ATOM 1.0

The Cosmos Hub's initial role was to create the technologies and frameworks needed to kickstart the internet of blockchains, and thus it created the Cosmos SDK, IBC, 

, various interchain modules, etc, which are core open-source primitives for the blockchains that are now part of the Cosmos ecosystem. 

Note: ‘Cosmos Hub’ refers to the Layer 1 blockchain in the ‘Cosmos’ ecosystem, with 

as its governance token. 'Cosmos' refers to the ecosystem of various app chains with their own governance token.

Cosmos is also known as a Layer 0 blockchain that allowed other blockchains to be built on it. These blockchains are Cosmos chains and are built with the Cosmos SDK, which is a toolkit that helps developers make it easier to create customized 

 tailored to their needs without reinventing everything from scratch. 

The Cosmos SDK caught on and many developers went to build on it to create their own customized blockchain. For example, there are chains that are tailored for 

and Osmosis, or other chains that focus on specific features such as 

These are also known as app chains which as similar to 

. What makes them interesting is that because they are their own modular chain, activities that happen on each chain won't congest other chains unlike in 

, which is a monolithic chain. This means if a hyped NFT mint is happening on Stargaze, users can still do other transactions such as trading and yield farming on another chain such as Carbon, without having to pay insane gas fees like on Ethereum.

Now that the foundations of the internet of blockchains have been built with multiple blockchains live for quite some time and working together, and billions of capital locked across multiple chains, the Cosmos Hub is now moving on to a new role - helping a growing ecosystem of 

blockchains to flourish while maintaining relevance. 

This will be done using four new technology called Interchain Security (ICS), Liquid Staking, Interchain Scheduler, and Interchain Allocator that sits on top of the 

Interchain Security will transform the Cosmos Hub into a secure platform for others to build the next generation of interchain-native infrastructure and 

, paving the way for new cross-chain opportunities and innovation.

To explain what ICS is, we first need to briefly understand how blockchain security for Cosmos chains works. 

Cosmos blockchains are PoS blockchains, and thus their security is determined by the economic value of the staked assets from the chain validators. Basically, the higher the 

 of the token, the more validators there are, and the harder it is to attack the chain. An attacker would require more capital to take over or attack the network.

However, the issue is that maintaining a high market cap to prevent an attack is not easy for all blockchains, especially newer blockchains. When a new chain is created, it may still be finding its product-market fit and may also struggle to get validators as they may not see value in the chain and would not

their capital to buy the chain's PoS asset and stake it to secure it.

To counteract this, many new Cosmos chains initially offer high inflationary rewards to incentivize validators to buy and stake. But this creates high selling pressure on the token price over time, and it may repel investors from buying the token knowing that there is a lot of 

pressure. And over time, if the token market cap drops too much from dumping, it again faces an increased risk of attack, and the blockchain is back to round one again.

This is where Interchain Security comes in. Interchain Security allows the validator set of a bigger chain, known as a 

, to provide security to the smaller chain, known as a 

, in exchange, the provider chain receives some of the gas fees and staking rewards from the consumer chain.

For example, an established chain such as the Cosmos Hub can secure a newer chain like 

with the interchain security mechanism. This would allow the validator set on Cosmos to produce blocks on the Quicksilver chain. It also uses ATOM as a 

, so if a user misbehaves on the Quicksilver chain, their ATOM would automatically be slashed on the Hub.

The provider chain may also have its core functionality to be built on a consumer chain and receive financing for its infrastructure build-out, allowing it to cut down on its own development cost and time. 

Therefore, Quicksilver would be able to import the entire economic security of the Cosmos Hub, currently secured by billions worth of staked ATOM and one of the most secure validator sets in the Cosmos ecosystem, in exchange for 

 and staking rewards. These rewards would then be given to ATOM stakers, increasing the value accrual for ATOM as well as allowing the Cosmos Hub to use and integrate with Quicksilver's liquid staking functionality.

Additionally, ICS is purely optional and can be opted out of even after using it. This mechanism can be used for the early stages of a protocol to provide stakeholders with 

Just like how there are thousands of apps that people all over the world are using right now, in the future, if there are thousands of app chains that appear that are being secured by the Cosmos Hub validator set, it could generate a lot of value back to the ATOM token. 

Interchain Security also reduces the barriers and costs of entry for consumer chains and enables a number of potential applications, including: 

In summary, Interchain Security gives smaller chains a faster, easier, and cheaper path to market, helping to foster innovation and allowing more integrations and collaborative opportunities with other chains in Cosmos. 

The other technology layer is called Liquid Staking which will also help to provide secure economic scaling.

In PoS blockchains like Cosmos Hub, its staked assets are not able to be used, which affects cross-chain composability. Liquid staking would allow users to use their staked collateral, such as staked ATOM, as a liquid token that can be traded with and sent across other Cosmos chains.

This increases the user's capital efficiency by unlocking additional capital, while still securing the network as their ATOM remains staked. The concept is similar to liquid staked ETH from 

 (stETH), which was hugely popular and successful and was accepted as collateral by multiple 

It would be easy to imagine a liquid staked ATOM achieving a similar level of success in the cosmos ecosystem as well, allowing users to earn ATOM staking rewards while interacting with other DeFi protocols. Liquid staking would extend not only to ATOM but other PoS cosmos assets as well. 

While Interchain Security enables the reuse of the same validator set and staked collateral to secure additional state machines. Liquid Staking would enable the reuse of the same staked collateral for other purposes. 

Together, Interchain Security and Liquid Staking create a secure base layer for projects to build on, furthering the growth of Cosmos app chains and activities.

The Cosmos ecosystem is made up of various 

that list the same assets. ATOM can be on multiple chains, and as they trade in the market, their prices can vary from one chain to another, similar to how ATOM's price varies slightly across different exchanges. This introduces a lot of arbitrage opportunities, where arbitrageurs will find 

offering the same token but at different prices, and will arbitrage the token prices so that they average out and earn a profit in exchange. This is a type of maximal extractable value (MEV) opportunity. 

There are two other common forms of MEV apart from arbitrage:

This MEV market can be made more efficient, more secure, and more lucrative for Cosmos chains and their users. The interchain needs a secure block space market to avoid off-chain cartelization and more options for chains seeking to optimize the use of block space. 

Existing MEV solutions on Ethereum like Flashbots’ are off-chain markets, however, it lacks 

 transparency. Interchain Scheduler brings MEV markets on-chain, facilitating a fairer and more transparent system. 

The Cosmos Hub used ATOM to fund the development of Cosmos' core components to reach the success that it has today. Funding is key during the initial phases of any ecosystem. Thus, when the next 

 begins, the Cosmos ecosystem may have many new chains appearing. In order to sustain and see the full impacts of the rapid growth, the current approach to on-chain monetary coordination may not be efficient enough to facilitate the needs of these new chains. 

Hence the Interchain Allocator was created. It is a platform for allocating capital to delegated parties to incentivize long-term alignment by bootstrapping users and 

for new chains. Essentially it attempts to create more 'symbiosis' where the more 'Coin A' that Cosmos Hub holds in its treasury, and the more ATOM that 'Chain A' holds in its treasury, the more aligned they are in incentives and goals.   

The Allocator provides two tools that enable incentive-aligned communities to develop strategies for economic coordination on behalf of the Cosmos Hub: 

and use the Interchain Allocator to achieve its goals, which include: 

The ATOM token does not have a maximum supply and issues inflationary token rewards to incentivize a target supply of the amount of ATOM staked. 

For example, when many ATOMs are being staked and the ratio is above two-thirds of its total supply, it will reduce the inflation to a minimum of 7%, and if lesser ATOMs are being staked and the staking ratio is below two-thirds of the total supply, it will increase inflation as high as 20%. As of the time of writing, ATOM inflation rate is around 18% and a 

of 311.8 million tokens with a market cap of $3.6 billion.

The upcoming liquid staking feature will increase the capital efficiency of staked ATOM by allowing it to be utilized while still being staked. Thus, the current monetary policy is being modified as users do not have to choose between staking their ATOM or using it in other 

As such, a new monetary policy is proposed which involves a 

The transitory phase begins with a significant increase in issuance that lasts for 36 months (3 years) before reaching a steady issuance rate that lasts indefinitely. The issuance rate starts at 10 million ATOM per month before declining until an issuance rate of 300,000 ATOM per month. You can view the 

The goal is to gradually remove security subsidies, starting from the current rate and decreasing by 10% every month for 36 months. By the end of this period, it is hoped that revenue from Interchain Security will meet or exceed the original subsidy and that the small inflation of 300,000 ATOM per month is negligible. 

This initial heightened issuance is meant to bootstrap the new Cosmos Hub Treasury that will be used to support and expand the network for the next few years. 

However there are arguments that this new issuance will be detrimental to ATOM stakers as 2/3 of the inflation will go towards the treasury and only 1/3 of it will go to stakers, and during the steady phase, all of the issuances will go to the treasury and none to stakers. Not to mention, the existing treasury has at least $60 million according to their public wallets, and issuing 10 million ATOM at the current price is over $100 million in market cap which could cause investors to worry about dilution even though the bulk of it goes into the treasury and are not circulating. 

This has stirred up some debates which will hopefully be addressed down the line before the proposal gets implemented. 

Currently, Cosmos Hub’s transaction fees are sent to the distribution module and divided between the Community Pool, delegators, and validators. The implementation of Interchain Security will add another stream of revenue from each consumer chain to the distribution module, which will replace the current security subsidy. 

The Cosmos ecosystem has grown a lot and has come a long way from the initial phases of pre-IBC and individual chains unable to communicate with each other. There is now a vibrant ecosystem of cross-chain transactions and interoperability, and this composability will only increase as more cross-chain dapps are created. 

With the addition of interchain security, liquid staking, interchain scheduler, and allocator, there will be more value accrual towards ATOM stakers, although it would be difficult to predict how much value these features could generate and if it is enough to offset the inflation of ATOM. 

Cosmos ATOM 2.0 White Paper: The All-New Road Map Explained

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards