Sui Joins Korea Blockchain Week as Official Event Partner 

The layer-1 chain will join other notable crypto firms in contributing to the upcoming Seoul-based Web3 conference.

Evan Cheng towering above Seoul.
Created by Gabor Kovacs from DailyCoin
  • Sui has teamed up with Korea Blockchain Week to drive Web3 excellence.
  • KBW has also welcomed other major firms as sponsors of the upcoming event.
  • Sui has recently unveiled a native protocol aimed at facilitating seamless asset transfers.

Sui, the layer-1 blockchain and smart contract platform developed by Mysten Labs has had a remarkable run this year, marked by new milestones and progressive product launches. Continuing the trend, Sui has partnered with a prominent Web3 conference to advance the ecosystem’s positive trajectory.

Sui and KBW Join Forces

In a press release dated Tuesday, June 18, 2024, Korea Blockchain Week announced Sui as the official conference partner of the upcoming Web3 gathering, which aims to advance blockchain technology in Asia and globally.

Sponsored

The conference, which will be held from September 1st to 7th, will feature a diverse lineup of industry leaders and innovators. It will explore the convergence of Web2 and Web3 technologies, regulatory landscapes, and institutional adoption strategies.

Commenting on the collaboration, Mysten Labs CEO Evan Cheng stated, "We are thrilled to be named the Official Conference Partner for Korea Blockchain Week 2024. This partnership underscores Sui's deep-rooted commitment to fostering dialogue and innovation within the blockchain ecosystem."

Joining SUI in collaboration with the upcoming conference are other notable firms, including Tron and Aptos Foundation, and as the event’s title sponsors. Additionally, Ripple, Orbs, and Flare Network will join Korea Blockchain Week as Gold sponsors. The event will also feature industry players, including Binance CEO Richard Teng and Ripple CEO Brad Garlinghouse, among others, as speakers. 

Sui’s team up with Korea Blockchain Week follows the recent launch of its latest innovation.

Sui Bridge Launches on Testnet

On June 11, 2024, Sui unveiled SuiBridge, a bridge purpose-built to connect assets and data within the Sui ecosystem.

Sponsored

The newly launched native bridge supports the seamless transfer of major assets, including ETH, wBTC, USDC, and USDT, leveraging the robust security and high-speed capabilities inherent to the Layer-1 chain. 

Sui Bridge provides users with a reliable pathway onto the Sui network, enhancing the interoperability between Sui and Ethereum with fast transaction speeds, low transaction costs, and a decentralized architecture.

To support the bridge’s ongoing testing, Sui has invited the community to actively engage with the native protocol on the test net. Participants can earn rewards through an incentive program, with opportunities to receive up to 100,000 SUI.

On the Flipside

  • At press time, SUI, the native token of the Sui ecosystem, is trading at $0.783, down approximately 12.4% in the last 24 hours.
  • In February 2024, the SUI Foundation announced a partnership with the UAE-based American University of Sharjah (AUS) to establish the ​​AUS-Sui Blockchain Academy.
  • In May, Sui faced allegations of non-transparency regarding its token supply. However, the blockchain quickly dispelled the claims as false and unfounded.

Why This Matters

Sui’s collaboration with the upcoming Korea Blockchain Week conference underscores its commitment to contributing to the advancement of the Web3 ecosystem. Additionally, the protocol’s launch of the Sui Bridge marks a further step towards building a scalable, secure, and interconnected blockchain infrastructure. 

Read more about the unimpressive performance of the SUI token over the past months:
SUI Token Shatters Recovery Hopes as It Falls Below $1 Peg 

More exchanges are reforming stablecoin offerings in the EU, read this article to find out more:
Uphold Axes Multiple Stablecoins As MiCA Rattles Exchanges

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.