{"id":82564,"date":"2023-08-03T13:07:40","date_gmt":"2023-08-03T10:07:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82564"},"modified":"2025-09-12T05:49:50","modified_gmt":"2025-09-12T02:49:50","slug":"sui-developers-roll-out-liquid-staking-for-native-token","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sui-developers-roll-out-liquid-staking-for-native-token\/","title":{"rendered":"Sui developers roll out liquid staking for native token"},"content":{"rendered":"<p>The team behind the Sui blockchain (SUI), Mysten Labs <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230802029682\/en\/Sui-Enables-Liquid-Staking-Functionality-to-Empower-Delegated-Stakers\">released an update<\/a> that adds the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-liquid-staking\">liquid staking<\/a> of the native token.<\/p>\n<p>The initiative is implemented as part of the SIP-6 proposal. Developers on the network can already implement the function in protocols.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAdding built-in support for decentralized applications as part of the blockchain&#8217;s core technology meets the clear need voiced by members of our community who wanted to participate in securing the network without compromising liquidity,\u201d said Greg Siournis, Executive Director of the Sui Foundation.<\/p>\n<\/blockquote>\n<p>According to the statement, when staking the asset the Move software package issues a derivative token \u2014 stSUI. In addition to the main withdrawal function, it can be sold, exchanged, or left as collateral.<\/p>\n<p>The native coin, which remains locked, continues to \u201cprotect the network within the consensus mechanism.\u201d<\/p>\n<p>According to project representatives, Sui separates these two processes, unlike other liquid staking solutions such as Lido on Ethereum. The network also allows users to choose validators themselves, rather than \u201cshift that responsibility to the protocols.\u201d<\/p>\n<p>Mysten Labs believes that the absence of such solutions in other blockchains \u201cconcentrates power in one or more nodes.\u201d<\/p>\n<p>According to DeFi Llama data, at the time of writing the amount of locked funds in the network stands at $13.9 million. The SUI token trades at $0.595, having fallen 5.9% over the day.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"436\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/SUIUSDT_2023-08-03_12-43-36-1024x436.png\" alt=\"SUIUSDT_2023-08-03_12-43-36\" class=\"wp-image-212846\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/SUIUSDT_2023-08-03_12-43-36-1024x436.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/SUIUSDT_2023-08-03_12-43-36-300x128.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/SUIUSDT_2023-08-03_12-43-36-768x327.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/SUIUSDT_2023-08-03_12-43-36-1536x654.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/SUIUSDT_2023-08-03_12-43-36-2048x872.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute chart of SUI\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/SUIUSDT\/ideas\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Earlier in May, the Sui developers <a href=\"https:\/\/forklog.com\/en\/news\/sui-network-launches-its-mainnet\">conducted<\/a> a successful mainnet launch. On the same day, the cryptocurrency exchange Binance listed the SUI token.<\/p>\n<p>Later, the project <a href=\"https:\/\/forklog.com\/en\/news\/sui-developers-announce-launch-of-web3-games-series-on-the-sui-blockchain\">announced<\/a> the launch <a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\">Web3<\/a>-games as part of numerous partnerships.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Mysten Labs team behind the Sui blockchain (SUI) released an update that adds the possibility of liquid staking for the native token.<\/p>\n","protected":false},"author":1,"featured_media":82565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,1651],"class_list":["post-82564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-sui-sui"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82564"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82564\/revisions"}],"predecessor-version":[{"id":82566,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82564\/revisions\/82566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82565"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}