Analysis of the Sui Ecosystem Inscription MOVE Project

This week, the popularity of inscriptions and NFT projects has generally declined, but primary projects can still yield considerable returns. Among the recently popular projects, MOVE stands out due to its innovative concept. Let's review the MOVE minting process and analyze the project.

MOVE: Inscription with Built-in Destruction Function

Project Overview

MOVE is an inscription project on the Sui chain, with a total supply of 10 billion tokens, minted over 21,600 epochs. Each epoch produces approximately 460,000 MOVE, evenly distributed to the addresses participating in the minting.

The MOVE minting mechanism has three characteristics:

1. Normal and Acceleration Mode: In the initial phase, when the number of participating addresses is less than 500, it is in normal mode, with one round per minute. When the number of participating addresses exceeds 500, it enters acceleration mode, starting a new round for every additional 500 addresses, resulting in a significant reduction in the duration of each round.

2. Burn function: A payment of 0.1 SUI is required for minting, in addition to Gas, which is locked in the contract. Holders can destroy the inscription at any time to retrieve 0.1 SUI.

3. Reward mechanism: The first minting address in each round receives an additional inscription that does not require locking SUI.

In acceleration mode, 500 addresses share 460,000 MOVE, with each address receiving 925 pieces. The personal asset page displays the acquired MOVE inscriptions, including both regular and reward inscriptions, all of which can be chosen to be destroyed.

Minting Status

MOVE will begin minting on January 1, 2024. In the initial phase, the allocation per address is relatively high, exceeding 10,000 pieces. It will then enter an acceleration mode, with a fixed amount of 925 pieces per address. The community's participation enthusiasm is high until the project completes its minting. Ultimately, the number of participating addresses reached 46,000, with nearly 10 million transactions, locking approximately 1 million SUI.

Project Analysis

Reasons why MOVE is worthy of attention:

1. The burn mechanism provides a "capital protection" effect, reducing early sell-off pressure.

2. Gained support from the co-founder of Mysten Labs, increasing official attention.

3. The estimated market value is only $830,000, with great growth potential.

transaction status

The official secondary market has not yet opened, and transactions are mainly conducted through over-the-counter trading. On a certain NFT platform, the transaction price range for 925 MOVE is between 0.17-0.2 SUI. Other over-the-counter trading prices are also within this range.

Summary

MOVE provides higher expected value for holders through its unique destruction mechanism. If the inscription market heats up again or Sui's official promotion is active, MOVE may experience rapid growth. Currently, its market capitalization is low, leaving significant room for growth.