⚠️SUI DROPS -5% AS MAINNET SUFFERS NETWORK OUTAGE
The Sui team has confirmed a network-wide stall, with developers currently working on a solution.
The network has been down for over two hours, temporarily halting all transactions on the mainnet.
Today’s centralized markets force a tradeoff between trading intelligence and latency. Those of us without broker-dealer infra / NASDAQ membership, colocation in Jersey, & top-tier data feeds don't have a fair shot at competing.
A global trading engine will make access and latency globally fair.
Imagine Prefix Consensus (https://t.co/THjdavkDf4) powers the world's global trading. Anyone (or their agent) within a 10–20 ms latency window of a real-world event participates in the same fairness window.
Today, alpha flows to those closest to the exchange. Alpha should flow to those closest to the event.
Every major real-world event that affects value needs price discovery. Price discovery belongs where value is created, not gated within a privileged data center.
SUI SHOCKS INDUSTRY WITH +25% PRICE PUMP
According to data on CMC, @SuiNetwork's $SUI token is up an impressive +25% over the past day.
It's price has now risen nearly 45% over the last seven days.
In terms of catalysts, @mirza_sarmin wrote...
"A Nasdaq-listed firm just moved 108.7 million SUI tokens into long-term staking — that's 2.7% of circulating supply gone overnight"
Onchain trading will win. However, for years, the tech hasn’t been ready. That’s no longer the case. An amazing trading application like @Polymarket can be built completely onchain (i.e., matching, execution, and settlement all happen with no single point of failure, source-available deterministic ordering, and verifiable state) and scale to worldwide adoption with the @Aptos technology stack.
Almost a year ago, we said (https://t.co/e8eOwJsBP9) that the world’s fastest, most scalable, lowest-cost blockchain infra would become the global trading engine and that many innovative advancements would be critical to make that happen. Many doubted it was possible. However, building a scalable onchain trading platform is no longer an aspiration. It’s in production today.
* The first onchain CLOB to match CEX performance is now live with @decibeltrade. 33ms median block times in mainnet today and Zaptos optimizations in prod. No other onchain product comes close.
* Guaranteed maker preference via re-ordered transactions ensures that tight spreads are possible even in the presence of toxic taker flow. This is live in the DLP vault today.
* X-chain accounts are live and support importing and exporting liquidity from EVM, Solana, & Sui.
* MEV protection protects traders from being front-run or sandwich attacked
* Bulk trades (https://t.co/paPHdQrhb1) mean makers can quote at rates>99% lower than those of any other on-chain infrastructure. Faster quoting, tighter quoting, better price execution.
There are worlds of difference between a normal blockchain, a high-performance blockchain, and a global trading engine when it comes to onchain trading. A high-performance blockchain might be 10x more efficient than a typical blockchain infrastructure. Still, a global trading engine can be 100x to 1000x more efficient than a high-performance blockchain.
Kind of like a single-core CPU vs a multi-core CPU vs an Nvidia B200. Let’s build the next generation of trading applications together on the right infrastructure @devjoshstevens. 💪