Binance’s native cryptocurrency BNB has surged amidst a market retreat as the exchange launches its latest Binance Launchpool project, Sui farming.
The project enables Binance users to farm SUI tokens using staked BNB and TrueUSD (TUSD) and offers incentives for a two-day period from May 1.
Binance will list SUI on its platform once its liquidity meets the requirements, and trading pairs such as SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB will be available.
As of writing, 8.9 million BNB worth almost $3 billion had been staked, with 772.8 million True USD staked into the TUSD pool.
Sui is a delegated proof of stake (DPoS) layer 1 blockchain that operates object-centric models and has been valued as the next ‘Ethereum killer.’
