$mooSUI - Pegged 1:1 to $SUI

Problems with current Liquid Staking Derivatives (LSDs)

• Derived token do not maintain a stable 1:1 peg to the underlying staked asset

• Derived token (rebase / accrual type) cannot be easily integrated into dApps - more oracles and transaction hops needed

• Derived token does not maintain a stable peg to the underlying asset causing impermanent loss when used in an AMM pool

$mooSUI

$mooSUI is a derivative asset that is pegged to $SUI.

1 x $mooSUI always represents 1 x $SUI within the Smoove ecosystem. When a user deposits $SUI into the{mooSUI Wrapper}, an exact amount of $mooSUI will be minted, and the underlying $SUI will be vaulted. This $mooSUI token will be burnt when the user returns it to the {mooSUI Wrapper} and the corresponding $SUI released.

$mooSUI itself does not generate yield and has to be staked further for rewards accrual.