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

sui name service (suins).png

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

Intro to Santiment.png

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

4.png

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

Crypto

DeFi

Yearn.Finance yields the highest returns in yield farming. Here's everything about YFI tokens, protocols, and more.

What-Is-Yearn-Finance

Yearn-Finance-min-1024x576.jpeg

Yearn-Finance-Price-Chart-1024x435.jpeg

This year, cryptocurrencies and blockchain-based projects reach new heights in growth and value. Yearn Finance, more commonly known as YFI or Yearn.Finance, is one of the 

 to show a massive price rally surpassing Bitcoin’s value (for a time) at over $25,000 per token. Still, it remains unheard of despite its phenomenal performance on their projects and vision.

So, if you’re searching for an answer to the question “What is Yearn Finance and how does it work?,” here’s precisely what you need to fully comprehend its concept and the processes it involves.

Yearn.Finance is an open-source, decentralized finance (

. It works as a yield aggregating platform to maximize the user’s investment by automatically moving the user funds between 

 lending protocols, such as Compound, Dydx, 

As of now, Yearn is one of the most popular and most decentralized DeFi projects in the crypto sector. While the YFI is the native cryptocurrency of Yearn.finance. Unlike Bitcoin, YFI is a governance token that boasts of the autonomous protocol.

That means users of the platform have the rights to cast a vote on the protocol’s direction that favor their intention the most. As of now, YFI is one of the largest Ethereum-based tokens prioritizing automated yield farming strategies.

Yearn.Finance is designed to autonomously move users’ funds to more profit-giving providers by locating the protocol offering the best annual percentage return (APR). It is considered a revolutionary breakthrough in the DeFi sector due to the potential yields parallel with stablecoins. 

Think of Yearn.Finance as a decentralized lending platform that lets users deposit ERC-20 

 such as DAI, USDC, USDT, TUSD, or SUSD into the protocol. As a return, stakers receive an equivalent amount of yTokens. So technically, a YFI coin is just like any other ERC-20 token. But instead of lending the deposited stablecoins into any particular protocol, the Yearn Finance platform automatically switches the tokens into a protocol with the highest yield to maximize the user’s profit.

When comparing YFI and other tokens, it possesses better automation and flexibility that has never been achieved before on the blockchain. The best part? The network only charges a small fee deposited into the platform’s pool and is then distributed among YFI token holders as dividends.

Andre Cronje is the founder of the popular DeFi protocol— Yearn. Although this protocol only 

, it has already achieved significant adoption in the crypto sphere. In early September, the platform’s native token, the YFI coin, even reached a peak value of approximately $44,000.

The original goal behind the platform stemmed from Cronje handling money for friends and family. He was looking for a way to put stablecoins to work for a profit. At the time, the most popular protocols were Aave, Fulcrum, Compound, and dYdX. As such, Cronje would manually check these protocols to see which was offering the best annual percentage return (APR). 

To avoid manually moving tokens around and paying 

 that would do the figuring for him. He then wrote the iterations for the yTokens. These yTokens could read the normalized APR output and move to the place, offering the best returns.

Subsequently, it became the basis for Yearn.Finance, which Andre first used himself before opening it up to others. The increase in the number of users had a positive effect on the protocol. That’s because each time a user interacted, the smart contracts checked to see if a rebalance was necessary. A higher frequency of interactions resulted in more shifts between protocols. And more shifts will produce a higher return. 

Currently, Yearn produces better returns in aggregate than any of its downstream sources on its own. The concept is relatively simple – the protocol sends more capital to the place with the highest returns. 

YFI is the native token of the Yearn.Finance platform. It is purely and simply a governance token, allowing holders to vote on decisions that affect Yearn.

YFI is an ERC20-token used for all governance activities on the platform, like voting on a protocol upgrade/change proposal. While there are only 30,000 YFI coins that have been minted and fully distributed to date.

To participate in the protocol, users need first to stake their YFI in a governance contract. They then receive voting rights and a percentage of protocol profits for each of Yearn’s products at regular intervals. To claim rewards, users need to vote, and once they have voted, their YFI tokens will be locked for three days, i.e., they won’t be able to un-stake the asset.

Firstly, TVL represents the dollar value of all the tokens locked up in a smart contract in a decentralized lending project. When analyzing the YFI’s TVL, most of the 

 (29,968 coins) has entered circulation. Thus, the token’s success was marked by an all-time high price of 

 in mid-September 2020 when it’s TVL in the parent protocol surged to over $676 million. As the buying sentiment grew, the YFI/USD exchange rate soared YFI over 

The upshot? YFI is now the first cryptocurrency to worth more than Bitcoin (BTC) per unit.

What Is The Yearn.Finance’s yEarn Product Used for?

Yearn.Finance has several features or services users can tap into now. The yEarn component of the protocol lets users deposit any of several stablecoins: DAI, USDC, USDT, TUSD, sUSD, and more. And as of now, Yearn looks for the DeFi platforms that produce the highest yield. 

Over time, the upgrades and improvements to secure the protocol make Earn more sophisticated. So, the size of the protocol’s user base means yEarn attempts to estimate the optimal allocation rather than simply dumping all of its holdings in one place. The allocation constantly changes because other users are going in and out of the liquidity pools directly.

In June 2020, staking stablecoins (USDT, USDC, DAI, or TUSD) into the Y pool will yield approximately 

 As of now, there is more than $650 million worth of crypto assets staked in the Y pool. Thus, making it one of the best returns in the decentralized finance sector. 

What Are The Yearn.Finance’s Vaults Used For?

Vaults are one of the main components of Yearn.Finance. They are the mechanism that temporarily holds the profits of stakeholders. While these profits are then distributed to YFI holders once the treasury is at or above $500k. And the profits are distributed as yCRV tokens.

Vaults represent the pools of funds that follow specific strategies. The use of vaults helps the community members work together to build strategies that determine the best yield protocol. They allow YFI coin holders to use any asset as liquidity. Liquidity is used as collateral, and collateral is managed at a safe level to avoid a default. The protocol then borrows stablecoins and puts the stablecoins to work on some farming. It then reinvests the earned stablecoins.

Is Yearn.Finance Different from Other Crypto?

Yearn Finance works similarly to other lending platforms. It lets users deposit any ERC20 stablecoin such as DAI, USDC, USDT, TUSD, or SUSD into the protocol and receive an equivalent amount of 

. The yTokens are like any other ERC20 token. The underlying stablecoin is then made available to lend.

Rather than lending the stablecoins into any particular protocol, the Yearn Finance platform automatically switches the tokens into a protocol with the highest yield to maximize user profit.

The network charges a small fee deposited into the platform’s pool and can only be accessible to YFI token holders.

How Sustainable Is The Yearn.Finance Ecosystem?

The purpose of Yearn.Finance has always been long term sustainability and symbiosis. Its creator 

 originally designed the ecosystem to be conducive to participating and optimized mutual settings. When a proposal is made, the goal is not to benefit yearn but to tweak all the systems engaged to benefit all participants and YFI coin holders.

with a trading volume of $300mil per 24 hours. At the same time, there are over 29k of YFI trading actively in 151 active markets.

Most experts agree that Yearn.Finance is very sustainable because its profitability is very high. The yields are high mainly because YFI is supported by a speculative enthusiasm for protocols with liquidity mining programs. The reason why “farmers” can get “yields” in three-digit and higher percentages is because speculators continue to buy new tokens on exchanges. It means speculators pay for the “yields” that “farmers” get in a more straightforward concept.

What Are The Challenges and Risks of YFI?

Although YFI is currently a pioneer in DeFi yield farming, it is not the only lending platform. Several (often questionable) YFI forks have recently appeared on the market and new Yield Farming aggregators such as 

 and asset management platforms such as 

. Which may pose new challenges for Yearn.Finance in terms of competition within the industry. 

Furthermore, the current returns from yield farming will fluctuate, and it won’t last forever. There are plenty of variables that can cause the public to stop buying new tokens and focus on those with stable value. Eventually, it’ll lead to a lower return. Experts and crypto enthusiasts express the hope that the launch of Yearn’s planned insurance, exchange, leverage, and liquidation products may diversify YFI revenue streams and provide option value for YFI holders.

For now, YFI remains one of the most exciting advances in decentralized management. The protocol created a large, diverse, and enthusiastic community of people who are very invested in the success of yEarn. Additionally, Cronje’s leadership and diversification of Yearn products are impressive. 

It’s important to remember that YFI is still a work in progress. That means there are no guarantees of a successful outcome or that the YFI token will remain valuable.

, and anyone can decide to imitate the protocol and concept. Over the year, Yearn has encountered many imitators. However, not many possess the proprietary technology which gives Yearn.Finance the edge over its competitors.

The YFI token value is mainly associated with the community around yEarn and reflects people’s confidence in the protocol and the people behind it. That makes it unpredictable and highly speculative.

The Yearn Finance project has enjoyed vast interest since its launch. After the YFI token crossed the value of $40,000 within a few months of its inception, many labeled it ‘better than Bitcoin.’ 

The nature and efficient protocol are what drives the efficiency of Yearn. For this reason, the platform’s user base will likely continue to increase in the years to come. Especially given that Cronje has announced a new 

. Aiming to focus on core lending and leverage products that increase yields with leverage.

Cronje’s intention to ‘dumb down’ DeFi for the average person turned out to be a winning strategy that catapulted Yearn to crypto stardom. His efforts to simplify the process and provide a better user experience stimulated the mass adoption and growth of YFI. 

Even though Yearn’s yield farming strategy involves a high level of risk, the protocol has so far managed to balance it out and provided some excellent returns this year with relatively limited risk. 

What Is Yearn Finance (YFI) in DeFi & How Does It Work?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards