Sui’s native asset is called SUI.
The total supply of SUI tokens is 10 billion, which will be allocated to the founding team, investors, public sales, Sui Foundation and future releases.
A portion of the total SUI supply is expected to be released when the platform's mainnet goes live. The remaining tokens will be vested over the next few years or distributed as a future staking reward subsidy.
Stake/Safe: Users can stake SUI to participate in the proof-of-stake mechanism.
Gas Fee: SUI is the asset denomination needed for paying the gas fees required to execute and store transactions or other operations on the Sui platform.
Governance: SUI token plays an important role in governance by acting as a right to participate in on-chain voting on issues such as protocol upgrades.
Storage of Value: SUI can be used as a versatile and liquid asset for various applications, including the standard features of money – a unit of account, a medium of exchange, or a store of value – and more complex functionality enabled by smart contracts, interoperability, and composability across the Sui ecosystem.
Users: Users submit transactions to the Sui platform in order to create, mutate, and transfer digital assets or interact with more sophisticated applications enabled by smart contracts, interoperability, and composability.
SUI Token Holders: SUI token holders have the option of staking their tokens to validators and participating in the proof-of-stake mechanism. SUI owners also hold the rights to participate in Sui’s governance.
Validators: Validators manage transaction processing and execution on the Sui platform.
The SUI token is the Sui platform’s native asset.
Gas fees are charged on all network operations and used to reward participants of the proof-of-stake mechanism and prevent spam and denial-of-service attacks.
Sui’s storage fund is used to shift stake rewards across time and compensate future validators for storage costs of previously stored on-chain data.
The proof-of-stake mechanism is used to select, incentivize, and reward honest behavior by Sui Validators and the SUI owners that stake with them.
On-chain voting is used for governance and protocol upgrades.
No permission: Sui is a permissionless, redesigned and rebuilt blockchain underlying system (Layer 1), aiming to provide creators and developers with a development platform capable of hosting the next billion users on Web3. Additionally, Sui aims to be the base layer of the first large-scale programmable blockchain platform - Web3.
Horizontal expansion: Sui can horizontally expand the development of popular applications with extremely fast speed, low cost and low latency without destroying atomicity and composability, and can also take advantage of increased verification Node machines run to improve their performance. Traditional blockchains are usually designed to run once for each verification node.
Transaction ordering: Sui has made a major leap in scalability - by enabling parallel protocols in mutually independent transactions, most transactions can be processed in parallel. This allows for better resource utilization and improves throughput by adding more resources. Sui abandons consensus in favor of simpler and lower-latency primitives to simply process transactions, such as payment transactions and asset transfers, which is unprecedented in the blockchain world, from games to retail payments at physical point-of-sale and many more new latency-sensitive distributed applications become possible.
Better user experience: Sui users can transfer their workload to Sui Gateway service for better user experience. In contrast, the sending and running results of traditional blockchain transactions are separate models. That is, users monitor the blockchain status to evaluate whether their transaction submission is successful.
No system timeout: No need to wait for the system to timeout as long as the network is running fast. Especially when the network is healthy and not under attack, you can noticeably reduce latency. In contrast, most other traditional and PoW blockchains need to wait for a predefined timeout before committing a transaction.
Low latency: Latency is directly proportional to transaction conflicts, so the latency of common transactions such as payments and transfers is very low.
Third-party expansion: Third parties can make the cost lower and easier to expand through distributed nodes.