SUI Tokens to be Managed and Pledged Through BitGo

02/17/2023 14:10 • AI & Tech Insights • 65 views

On February 17, the Sui Foundation announced that it had reached a cooperation with BitGo, a hosting service provider. In the future, the holders of SUI tokens will be able to manage or pledge tokens through the managed and unmanaged wallets on the BitGo platform.

Sui and BitGo, the hosting service provider, have reached a cooperation

Interpretation of the news:

The Sui Foundation recently announced its collaboration with BitGo, a hosting service provider, to enable the management and pledging of SUI tokens through the latter’s managed and unmanaged wallets on its platform. The move is expected to increase the accessibility of SUI tokens by allowing holders to manage and use their tokens seamlessly and securely.

This partnership is a milestone for both organizations, with BitGo providing a reliable and secure platform for SUI token holders to store and manage their tokens. BitGo is a leading blockchain-based platform that offers wallet services for a variety of digital assets. Its reputation for providing secure and trusted services is expected to increase confidence in the use and management of SUI tokens.

The Sui Foundation, on the other hand, is a non-profit organization dedicated to promoting sustainable development, digital innovations, and entrepreneurship. It is committed to increasing access and the use of digital tokens as a means of promoting sustainable economic growth. The partnership with BitGo is in line with its objectives and would provide an opportunity for the foundation to reach more people.

The use of managed and unmanaged wallets on BitGo’s platform means that SUI token holders will have access to two types of wallets to manage their tokens. The managed wallets are custodial wallets that are managed by the platform, and users do not have direct control over their private keys. Unmanaged wallets, on the other hand, are non-custodial wallets that allow users to have full control over their private keys. This flexibility means that users can choose the type of wallet that best suits their needs.

The ability to pledge tokens through the platform also provides an opportunity for SUI token holders to earn additional income. Pledging tokens refers to the process of locking up tokens for a specific time and earning rewards for doing so. This process incentivizes long-term holding and increases the value of the token.

In conclusion, the partnership between the Sui Foundation and BitGo is a positive development for the blockchain industry, providing a secure and reliable platform for SUI token holders to manage and pledge their tokens. The use of managed and unmanaged wallets provides flexibility, and the ability to pledge tokens provides an opportunity for additional income.

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SUI Tokens to be Managed and Pledged Through BitGo

Sui and BitGo, the hosting service provider, have reached a cooperation

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