Introduction
The blockchain industry is always a busy place. Many new products launching and existing ones innovating. There is no end to interesting activities in the space. In this article, we will see two important projects announced by SUI Foundation and Binance crypto exchange. Each of these projects are designed to improve the respective ecosystems of each platform.
The SUI network through its foundation recently announced a $500,000 grant to fund academic research that will improve various aspects of blockchain technology such as enhanced privacy, cryptography and decentralization. A total of 20 teams from various Universities would be receiving $25k each to cover all the expenses that would be involved in conducting the research. Details about this a little later.
For Binance, they recently announced a new airdrop project called HODler. This project seeks to reward BNB holders in the ecosystem that are staking their BNB in Simple Earn staking packages. The tokens to be airdropped are new tokens. The airdrop would happen ahead of the listing dates for the new tokens. We will get details of that later. But first, the SUI foundation grant.
SUI offers $500k to improve blockchain systems
Sui Academic Research Awards is a project by the SUI foundation to fund community research work on blockchain systems. For this round, the teams working on various blockchain research topics have been picked from Universities that wish to participate. A total of 20 exceptional teams have been selected and each team would receive a grant of $25k to finance their research work. Some of the universities from where the teams were picked includes Yale University, Purdue University, and University of Singapore.
Each team would be focusing on enhancing a specific blockchain aspect through their research work. The topic cuts across specialization areas like improving the security of blockchain smart contracts. Others would be working to enhance scalability. The security of Web3 systems using IOT devices would also be one of the research subjects. SUI foundation listed some other research areas as seen below:
Decentralization and society including philosophy of decentralization, its impact on democracy, and its role in welfare economics. Advanced applications, ecosystem components, and uses of blockchain platforms of relevance to the Sui platform. Distributed, decentralized, and permissionless computer systems and mechanisms. source
The SUI foundation received application from many university teams around the world. But it has taken time to vet the applications and have selected the 20 that meet the requirements as stated in the application site. The Foundation has released the list of the successful applications and a good description of the blockchain research topic they are working on. You might want to take a look here.
Binance launches HODler airdrop
Binance just announced the HODler airdrop campaign specifically for users that are holding BNB on the platform. It is an attempt to encourage more people to hold BNB and reward those that are doing so. This project would likely run together with its popular launchpool - a platform for listing new project tokens.
For HODler, participates would stake their BNB by choosing any of the options under Simple Earn package. This is the first requirement. Then when a new project with large token supply is to be listed on the platform, Binance will airdrop the tokens to Simple earn subscribers based on the amount of stake they hold.
To determine the exact quantity of airdrop each person would receive, Binance would randomly take screenshots of user average balances on hourly basis to determine how much airdrop to issue to them. In order to maintain a fair distribution of the airdrops, users would not know at which hour the screenshot would be taken. This will ensure that no one exits their position as that might make them miss the hour's screenshot.
Users that wish to participate in this airdrop campaign would need to observe the terms of the campaign in order not to be disqualified. Some of the tearm include:
Location eligibility and KYC completion: Users must first of all ensure that their current location is eligible to participate in the campaign. Regions where crypto is banned are normally not allowed to participate. So check your location first to verify eligibility.
How much BNB to stake: Binance indicated that there is a limit. Below is how Binance stated it in the announcement post:
There is a hard BNB holding calculation limit per user. The limit will be announced in each HODLer Airdrops announcement. For example, a user holds 203 BNB, and the holding calculation limit is 200 BNB. Binance will only use 200 BNB to calculate their total rewards. source
Finally
Important Note: Remember that this post is just to create aware for the Binance airdrop and SUI foundation grant. It is not financial advice. Its best to invest time and learn much about an project before getting involved - airdrops inclusive.
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