Convert HASUI to SGD

HASUI is a liquid staking token (LST) on the Sui network, representing staked SUI tokens and unlocking liquidity within the DeFi ecosystem.

Key takeaways

• HASUI is a liquid staking token (LST) issued by the Haedal protocol on the Sui blockchain.
• It is minted 1:1 when users stake their native SUI tokens through the Haedal platform.
• Holding HASUI allows users to earn staking rewards while maintaining liquidity to participate in other DeFi activities.
• The token is built on the high-performance Sui network, benefiting from its speed and scalability.
• HASUI simplifies the staking process and enhances capital efficiency for SUI holders.

What is Haedal Staked SUI (HASUI)? Key Specifications & Tokenomics

Haedal Staked SUI (HASUI) is a liquid staking derivative that provides SUI holders with a flexible way to earn rewards.

Who created Haedal Staked SUI (HASUI)?

HASUI was created by the team behind the Haedal protocol, a dedicated liquid staking solution built natively for the Sui blockchain. The Haedal project was developed to address the need for liquidity in Sui's staking ecosystem. By allowing users to stake their SUI and receive a liquid token in return, Haedal aims to improve capital efficiency and foster a more vibrant DeFi landscape on Sui. The team focuses on security, user experience, and seamless integration with other Sui-based applications.

How does Haedal Staked SUI (HASUI) work?

The mechanism behind HASUI is central to the concept of liquid staking:

• Staking and Minting: A user deposits their native SUI tokens into the Haedal protocol smart contract. The protocol then stakes these SUI tokens with trusted validators on the Sui network. In return, the user receives an equivalent amount of HASUI tokens minted at a 1:1 ratio to the staked SUI.
• Accruing Rewards: While the underlying SUI is staked and securing the network, it generates staking rewards. The value of these rewards is automatically reflected in the exchange rate between HASUI and SUI. Over time, 1 HASUI becomes redeemable for more than 1 SUI, representing the accumulated staking yield.
• Liquidity Utility: The key advantage is that the user now holds HASUI, a liquid asset. They can trade HASUI on supported decentralized exchanges (DEXs), use it as collateral for loans in lending protocols, or provide liquidity in pools—all while their original SUI stake continues to earn rewards.

What makes Haedal Staked SUI (HASUI) unique and valuable?

HASUI's value proposition is built on solving the liquidity lock-up problem inherent in traditional staking:

• Unlocked Capital Efficiency: It transforms staked, illiquid assets into a productive financial tool. Users are no longer forced to choose between earning staking rewards and using their capital in DeFi.
• Native Sui Integration: As a protocol built specifically for Sui, Haedal leverages the network's high speed and low transaction costs, making the staking and unstaking process efficient and user-friendly.
• Composability: HASUI acts as a fundamental building block (a "primitive") within the Sui DeFi ecosystem. Its existence enables more complex financial products and strategies, driving overall ecosystem growth and utility.

What is Haedal Staked SUI (HASUI) used for?

HASUI serves multiple purposes for different participants in the ecosystem:

• For Stakers: It is primarily a tool to earn staking rewards on SUI without sacrificing liquidity. It's the receipt for their staked assets.

• For Traders & DeFi Users: HASUI is a tradeable asset. Users can speculate on its price relative to SUI or utilize it across various DeFi applications on Sui, such as:

  • Trading on DEXs.
  • Supplying as collateral in lending markets.
  • Providing liquidity in automated market maker (AMM) pools to earn trading fees.

• For the Sui Ecosystem: It increases the total value locked (TVL), enhances network security by making staking more attractive, and stimulates economic activity within Sui's DeFi landscape.

How Is the Haedal Staked SUI (HASUI) Ecosystem Developing?

The HASUI and Haedal ecosystem is intrinsically linked to the growth of the Sui network. Its development focuses on:

• Integration Expansion: The Haedal team actively works to get HASUI listed on more decentralized and centralized exchanges to improve its liquidity and accessibility.
• Partnerships: Forming strategic partnerships with other leading protocols on Sui to enable HASUI as a core collateral asset or liquidity source.
• Protocol Enhancements: Continuously improving the security and efficiency of the Haedal staking vaults and exploring features like instant unstaking (via liquidity pools) to enhance user experience.

How to mine Haedal Staked SUI (HASUI)?

HASUI is not mined in the traditional Proof-of-Work sense. It is minted exclusively through the act of staking SUI on the Haedal protocol. There is no alternative way to "mine" or generate new HASUI tokens outside of this process. The only way to acquire newly minted HASUI is to deposit SUI into the Haedal platform.

How to keep your HASUI Coin safe?

Securing your HASUI tokens is crucial, as they represent your staked SUI assets.

• Use a Secure Wallet: Store your HASUI in a non-custodial wallet that supports the Sui network, such as Sui Wallet, Ethos Wallet, or Martian Wallet. Ensure you safeguard your seed phrase offline and never share it.
• Verify Contracts: When interacting with the Haedal protocol or any DeFi platform, always verify you are on the correct official website to avoid phishing scams.
• Understand the Risks: Recognize the smart contract risk associated with the Haedal protocol and the slashing risk (though mitigated by Haedal's validator selection) inherent in staking. Diversification across different liquid staking providers can be a prudent strategy.

How to buy HASUI Coin?

HASUI is a liquid staking token gaining traction on the Sui network. For a seamless trading experience with deep liquidity, consider using a major platform like BTCC.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the identity verification (KYC) process to access all features and higher withdrawal limits.
2. Deposit Funds: Deposit Canadian dollars (CAD) via Interac e-Transfer, bank transfer, or credit card. Alternatively, you can deposit cryptocurrency like USDT. A helpful guide on acquiring USDT is available here.
3. Start Trading: Navigate to the trading section. You can trade HASUI directly if listed, or first purchase USDT to trade for HASUI. Search for the relevant trading pair, such as a spot pair or perpetual contract.
4. Place an Order: Enter the amount of HASUI you wish to buy and confirm the order. For contract trading, you can select leverage according to your risk management strategy.
5. Secure Your Assets: After purchase, for long-term holding, consider transferring your HASUI tokens to your personal non-custodial Sui wallet for enhanced security. You can monitor the price of HASUI and other assets on the BTCC price page.