Beginners Guide to Getting Started in the Sui Ecosystem and How to Leverage Meme Coins Like $FUD The Pug to Grow your $SUI Bag

Sui is a layer 1 blockchain that launched on mainnet back in May 2023 and has already shown tremendous growth with over 600 million total value locked.  Similar to Solana, Sui is a non-EVM chain that’s extremely fast with super low transaction fees.  Non-EVM blockchains like Sui and Solana are not beholden to the standards and specs of Ethereum for smart contracts which offers more opportunities to innovate.

“Move” is the unique programming language for Aptos and the Sui blockchain.  It runs the delegated Proof Of Stake (dPOS) consensus algorithm.  Based on Rust (Solana’s programming language), Move is easy for programmers to learn which opens the door for rapid development.  The Move programming language offers advantages in security, flexibility, parallel execution, low latency, and more.  Sui Bridge makes it easy for Ethereum users to transfer their assets to Sui network which helps speed up adoption as well.  In this Stouy tutorial, we’ll show you how to get started in the Sui crypto ecosystem so you can take advantage of being early to a growing layer 1 blockchain.

Watch our tutorial video below on How to Trade Sui Ecosystem Tokens like $FUD and $HSUI below…

Best Sui Wallets to Enter the Ecosystem

Once you’re ready to dive into the Sui ecosystem, the first thing you’ll need is a compatible Web3 wallet.  There are a bunch of really good wallet options for Sui such as Phantom, Suiet, Surf, and Easy.  In this tutorial, we’ll focus on “Sui Wallet” which is native to the blockchain.

Step one is to download the Sui Wallet in the Chrome web store just like you would with other Web3 wallets like Phantom and MetaMask.

Once you’ve added the Sui Wallet extension to Chrome, you’ll go through the process of setting it up.  The key thing to remember when creating a new Sui Wallet is to write down your Recovery Phrase and store it in multiple locations.  Best practice is to never save a Web3 wallet recovery phrase / seed phrase on a device but to write it on paper to avoid being hacked.

One of the really cool things about the Sui Network is they aim to make it easy for Web2 users to interact with the blockchain as you’ll see when you create your wallet.   Users have the option to login via their Google and Twitch accounts.  Sui understands that in order to onboard the the Web2 masses to Web3, friction must be removed as much as possible.

After creating your Sui Wallet, the next step is to send $SUI tokens to it from a centralized exchange such as Coinbase.  The option to purchase $SUI directly in the Sui Wallet exists via Banxa, Transak, and MoonPay.  However, my preferred method to buy $SUI with fiat is via a CEX and to then send it to my web3 wallet.

To fund your Sui Wallet, simply copy your “Receive” address in the wallet, log into your Coinbase (Kraken, KuCoin, Bitget) account, click on Transfer, Send Crypto, enter the amount, paste your Sui Wallet receive address, and Send.  The $SUI tokens will typically transfer from Coinbase to your Sui Wallet within seconds.

Leveraging Sui Ecosystem Meme Tokens to Build your $SUI Bag

Moving your $SUI tokens off of a centralized exchange to a self-custodial Web3 wallet gives you the ability to make moves to grow the size of your holdings.  NFTs and Meme Coins are simply tools that make it possible to turn a small amount of $SUI (same is true with just about any blockchain ecosystem such as Solana) into much larger bags.  They are essentially levered longs on the underlining asset which in this case is $SUI.

Meme coins and NFTs give you the ability to take small, but calculated risks and to increase your portfolio size, significantly in some cases.  I’ve successfully used both tools on Solana, Ethereum, Bitcoin, Sei, Avalanche, and other chains to increase my holding size of the underlying asset.  In this example, I’m going to focus specifically on leveraging Sui ecosystem meme coins to potentially grow your $SUI portfolio size.  It’s a relatively low risk and potentially high reward meme coin crypto strategy that has worked for me in the past and one I continue to use today.

Dex Screener is where you’ll go to find all of the tradable Sui ecosystem tokens.  On newer blockchains like Sui, the volume and liquidity in meme coins is typically going to be much lower than Solana or Ethereum.  However, that also means there is less “noise” and it’s typically easier to identify strong meme coin projects like Fud  The Pug.  The same is true for other up-and-coming layer 1 blockchains like Sei and Fantom.  The theory is that if large volume does eventually enter these blockchains, the top meme coins in their ecosystems will outperform the underlying asset resulting in larger gains.

FUD The Pug ($FUD) is the Sui ecosystem meme coin we’ll use in this example because in my opinion, it’s a strong project with potential to run in the future.  The things I look at when analyzing meme coins on Sui or any chain are as follows…  1. Do they have a strong presence and following on Twitter and Telegram?  2. Do they post quality content often on the X platform?  3. I look at their Market Cap, Liquidity, Fully Diluted Valuation (FDV), and Chart on Dex Screener.  I’m looking for tokens with strong liquidity, bullish charts, and room to run.  4. Look at the Tokenomics of the meme coin to see how well it’s distributed.  5. Is the team behind the meme coin solid and trustworthy?  Not financial advice, but those are the main things I take into account before investing in a meme token and $FUD fits the bill.

Sui Decentralized Exchanges (DEXs) for Trading Ecosystem Meme Coins

Now that our Web3 wallets are funded and we’ve identified a token ($FUD in this example) we like via Dex Screener, the next step is to identify the top Sui ecosystem decentralized exchanges to make swaps / trades.  DeFi is strong in the Sui ecosystem which means we have a bunch of good DEX options such as Cetus, Aftermath Finance, Kriya and Turbos Finance. Each of these protocols offer unique benefits and all will allow us to trade Sui ecosystem meme tokens.  Other good options for trading Sui ecosystem tokens are RaidenX and Sui Sniper Bot.

Hop Aggregator and 7K are zero fee aggregators that finds the best rates across all Sui ecosystem DEXs.  Users no longer have to choose which Sui DEX to use when making swaps as Hop Aggregator finds the best routes for every trade.  It’s very similar to Jupiter Exchange on the Solana blockchain.

Watch our tutorial video below to learn “How to Trade Sui Ecosystem Tokens using Hop Aggregator to ensure you get the Best Price and Liquidity“…

We’ll use Turbos Finance to swap $SUI for $FUD in this example.  Simply go to app.Turbos.finance and connect your Sui Wallet.  Next, in the “From” field enter the amount of $SUI that you’re going to swap to $FUD (or whatever token you choose).  In the “To” field select FUD and the Turbos protocol will show you how much you’ll receive in the swap.

Sometimes, the Sui meme token you want to swap for will not show up when you click the drop-down.  If that happens, go to the token on Dex Screener and copy the token’s contract address which you’ll find next to the ticker symbol.

Once the meme token address is copied, go back to Turbos Finance and paste it in the “To” field which should pull it up.

The final step to swapping $SUI for $FUD is to click the Trade button and your wallet will open to approve the transaction.  The Sui blockchain is super fast so your swap will take just a second or two to confirm an the process is complete.

Click the “View on Explorer” link to open Suiscan which is a top Explorer for the Sui Blockchain along with SuiVision.  There you can view the details of your $SUI to $FUD swap.

You’ve now leveraged a small amount of $SUI for a top ecosystem meme coin with big upside potential when more liquidity and volume enters the chain.  When I say small, I recommend a max of 5 to 10% of your Sui holdings to be safe.  While this strategy does work, we are dealing with Sui meme coins and they should be treated with caution the same way as you would with NFTs.

If you’re looking to learn more about Sui crypto and stay up-to-date with what’s new, then I high recommend following @matteodotsui, @trevinvsnft, and @StarPlatinumSol.  They consistently share insightful Sui ecosystem related content that will help expand your knowledge base.  Thank you for taking time to read this Sui tutorial and please feel free to leave a comment or questions below.  Stay tuned for the next in-depth Stouy Crypto tutorial!

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.