The Sui public chain has recently ignited a craze for tokenized assets, with the “store of value” token project MOVE at its core. Currently, the minting progress of MOVE has exceeded 86%, and the amount of SUI staked has exceeded 823,000 tokens, with a total value of approximately $732,400.
The craze for tokenized assets, such as Bitcoin, is quickly spreading to major public chains, including Ethereum (ETH), Solana (SOL), and Avalanche (AVAX). As the cost of minting tokens is usually low, community members often engage in a large number of manual operations or use batch tools to streamline the process and quickly acquire multiple tokens.
Recently, the Sui public chain has introduced the “zero-cost” token project MOVE. According to the official announcement, MOVE has a total supply of 10 billion tokens, which will be gradually distributed through 21,600 epochs. During each epoch, approximately 460,000 MOVE tokens will be generated and evenly distributed among all participating addresses.
According to data from the official minting website, the minting progress of MOVE tokens has already exceeded 86%, and the amount of SUI tokens staked in the project has surpassed 823,000. Based on the current market price of approximately $0.89 per SUI token, the total value of staked SUI tokens is around $732,400.
Furthermore, the recent official announcement also stated that once the minting of MOVE tokens is completed, approximately 1/1000th of the liquidity of Sui tokens will be directly locked.
The mechanism for minting MOVE tokens is designed to be quite unique. Specifically, each address can mint one token per minute. Therefore, users only need to perform a minting operation (mint) once per minute. During each minting process, users need to stake 0.1 SUI tokens into the token.
Interestingly, these staked SUI tokens are still held within the user’s token. If users later decide to no longer hold the token, they can retrieve the previously staked SUI tokens by burning the token. If transaction costs are not considered (average cost per transaction in the past 24 hours is about 0.1 NTD), this model can be considered as the first token with a store of value function.
The process of minting MOVE tokens can be divided into the following simple steps:
1. Install the SUI wallet.
2. Transfer SUI tokens from the exchange to the wallet.
3. Access the MINT website.
4. Connect the wallet and perform minting.
There are also community members who provide batch minting tools, but they require importing private keys or mnemonics to use, which readers need to consider for themselves.