Stake SUI (SUI) with Chorus One

Sui is a Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible to everyone.

‍Overview

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1. Install the SUI wallet extension

In case you don’t have the SUI wallet extension installed on your browser already, visit https://chrome.google.com/webstore/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil and Install the extension.

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Click on ‘Install SUI for Chrome’ if you are using a Chrome browser or Brave if you are using the Brave browser and follow the installation instructions.

2. Create Account

Click on the extension in the Chrome/Brave toolbar and the following page will open up.

Click on Get Started to create your account. Then, create a secure password for your wallet.

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| You will be shown 12 words as your mnemonic seed. Back it up securely (read the warning below)

| Back up your mnemonic seed securely

• Anyone with your mnemonic seed can take your assets.
• Lost mnemonic seed can’t be recovered.

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Finally, click on Open Sui Wallet to create your account.

3. Log in to your account

Once you have created your account, click on the extension to view your address.

4. Stake your SUI

If you don’t already have SUIs in your account, fund it with some tokens. You may use an exchange to transfer the SUI tokens to your address or get it from someone who already holds them.

Ensure you’re on the correct network - Mainnet.

Click on “Stake & Earn SUI”

Find “ Chorus One” validator in the list and verify that the validator address by visiting https://explorer.sui.io/validator/0xd6edebcfa598dcb6e71037b34f09ddc6a20dd874edca1d89d5ccd11ec070d040 and confirming that the Chorus One address is 0xd6edebcfa598dcb6e71037b34f09ddc6a20dd874edca1d89d5ccd11ec070d040.

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Select and click “Select Amount”. Enter the amount of SUI tokens you want to stake.

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Click on “Stake Now”.

5. Claiming rewards

Over time you will see rewards getting accumulated in your account. You can simply go to the SUI extension to claim them.

How to Unstake SUI

1. To unstake, log into your account and click on "Currently Staked".

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2. Select the amount of SUI tokens that you want to unstake.
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3. The, select "Unstake SUI".

4. Verify your details, and then select "Unstake now" .

5. You have now successfully unstaked your SUI tokens.

After three rounds of rigorous testnets, the Sui Network Mainnet is live, and Chorus One is proud to support the network as a genesis staking provider and validator.

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What is SUI?

Sui Network is a permissionless Layer-1 blockchain and smart contract designed from the ground up to make digital assets ownership fast, secure, and accessible to the next generation of Web3 users. Its pioneering architecture is implemented to create a world-class developer experience, in addition to vastly improving performance and user experience of L1 blockchains.

Sui Move

Sui uses Rust and supports smart contracts written in Sui Move -  a customized version of the Move programming language that enables the definition and management of assets with owners. These assets can be created, transferred, and mutated through custom rules defined in the smart contract, offering a flexible way to manage digital assets on the blockchain. This enables a vast range of use-cases such as tokens, virtual real estate, and more.

SUI’s unique design features

1. Parallel agreement

Sui has a unique system design that allows it to scale horizontally and handle a high volume of transactions at low operating costs. Unlike other blockchains that require global consensus on all transactions, Sui enables parallel agreement on independent transactions through a novel data model and Byzantine Consistent Broadcast. This approach eliminates the need for global consensus and enhances scalability without compromising safety and liveness guarantees.

The object-centric view and Move's strong ownership types enable parallel execution of transactions that affect different objects while transactions that affect shared state are ordered through Byzantine Fault Tolerant consensus and executed in parallel.

2. Scalability and Immediate Settlement

Sui’s scalability characteristic is highly innovative and distinct from existing blockchains that have bottlenecks. Currently, most blockchains have limited capacity to handle a high volume of transactions, resulting in slow processing times and expensive fees. This can lead to a poor user experience, particularly in gaming and financial applications. Sui addresses these issues by scaling horizontally to meet the demands of applications. It does this by adding more processing power through additional validators, resulting in lower fees and faster processing times even during periods of high network traffic.

3. Novel Storage Ability

Sui allows developers to store complex assets directly on the blockchain, which makes it easier to create and execute smart contracts. This results in low-cost and horizontally scalable storage that enables developers to define rich assets and implement application logic. With this capability, new applications and economies can be created based on utility without relying solely on artificial scarcity.

SUI Tokens

Sui’s native token, SUI, has a fixed supply and is used to pay for gas fees. Additionally, users can earn rewards by staking their SUI tokens with validators like Chorus One. To learn more about how you can stake SUI with Chorus One, visit: https://chorus.one/articles/how-to-stake-sui-sui-network

Sui Use Cases

Sui enables developers to define and build:

• On-chain DeFi and Traditional Finance (TradFi) primitives: enabling real-time, low latency on-chain trading
• Reward and loyalty programs: deploying mass airdrops that reach millions of people through low-cost transactions
• Complex games and business logic: implementing on-chain logic transparently, extending the functionality of assets, and delivering value beyond pure scarcity
• Asset tokenization services: making ownership of everything from property deeds to collectibles to medical and educational records perform seamlessly at scale
• Decentralized social media networks: empowering creator-owned media, posts, likes, and networks with privacy and interoperability in mind

Staking $SUI with Chorus One

SUI can be delegated to Chorus One delegation pool

Current Staking APR: 8.3%

For any other questions, reach out to staking@chorus.one

Useful links, tools, and resources

Website: https://sui.io

Twitter: https://twitter.com/SuiNetwork?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

Docs: https://docs.sui.io/learn/about-sui

Explorer: https://suiscan.xyz/mainnet/home  

Discord: https://discord.com/invite/sui

GitHub: https://github.com/MystenLabs/sui

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About Chorus One

Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.

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