In-depth analysis of Spam: the driving force behind the surge in transaction volume on Sui Chain
Original author: Alex Liu, Foresight News
The number of transactions on Sui exploded
Degen News, a media outlet that focuses on reporting on the Solana ecosystem, recently sparked a heated discussion with a piece of news: "Sui's daily transaction count exceeds Solana." Doubts were overwhelming: "The data must be wrong, I don't see many people using it!", "Did they count the number of instructions as the number of transactions again?" - Sui was previously criticized for confusing the number of instructions and the number of transactions in its promotion. (A transaction may include several instructions)
Solana co-founder Toly generously forwarded the message and sent congratulations, while Sui’s co-founder and CPO Adeniyi also came out to clarify that "these are all independent transactions" and emphasized the authenticity of the data.
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Why did the number of transactions on Sui Chain surge? Adeniyi @ the instigator of all this - Juzy, the developer of Spam. What is Spam and how can we participate?
What is Spam?
In short, Spam is a PoW project on a PoS chain, similar to Ore on Solana. Users earn tokens by continuously sending transactions. The more transactions they send, the more tokens they get. Gas fees are the only cost of obtaining tokens.
The total amount of SPAM tokens is 100 billion, and 1 billion will be mined every day for a total of 100 days. The daily inflation rate of the token is gradually decreasing.
The token inflation is 100% on the first day and drops to 1% on the last day.
Such tokens obviously have no functional value, but they are sought after because of the following characteristics: everyone can participate equally and there is no whitelist; the token supply is predictable, simple and transparent; the team does not pre-mine and distributes fairly; the only cost is Gas.
Then we found that all this is not new. Fair distribution is a concept that has been hyped for more than half a year, and the gameplay concept of Spam and Ore seems to be similar.
However, there is still a difference. Performing PoW on a PoS chain sometimes serves as a "performance test" of the underlying chain. Solana exposed problems in the Ore test, and the transaction success rate dropped to a low point, maintaining a state where the entire chain was almost unavailable for several days. Sui seems to have withstood the stress test. Despite the surge in the number of transactions, the transaction success rate, confirmation speed and fees remain in good condition. So after the news that the number of transactions per day exceeded Solana, the subsequent actions seem to have become a "joint marketing" between Sui and the project party. And Sui officials have indeed strongly supported Spam. Official accounts and co-founders have reposted it, and even the SPAM-SUI LP on Turbos has begun to receive official subsidized SUI token incentives.
Spam founder announced that SPAM-SUI received token incentives. How to participate in Spam?
To consume SUI Gas to mint SPAM, you need to go to its web minter , where an in-browser wallet will be generated for Spam.
Web Minter will do everything automatically: automatically send transactions, mint coins, and collect SPAM. Just transfer any amount of SUI for transaction fees to your wallet, click start, and you're done. The overall operation is actually simpler than the previous Ore.
Spam Page Founder
It is also possible to use an existing wallet for spam, but the private key needs to be loaded into the web minter program for use. If there are other assets (such as NFT, etc.), this is not recommended because it is a bit risky to save the private key in the browser storage.
Also, remember to register with Spam! Spam's counter works like this: a new counter is created every day, if you send a transaction on the 1st day, you must register on the 2nd day, and from the 3rd day onwards, you can mint SPAM at any time.
