$SUI is the native utility token of the Sui network.
š¹ Main Uses of $SUI:
ā¢ Transaction fees on the network
ā¢ Staking to help secure the network and earn rewards
ā¢ Governance (in future updates): voting on protocol upgrades and changes
ā¢ Possibly for DeFi, NFTs, and other applications within the Sui ecosystem
š· Key Features of Sui Blockchain:
ā¢ Parallel Execution: Sui uses a technique called āNarwhal and Bullsharkā for parallel processing, boosting speed and scalability.
ā¢ Object-centric model: It treats all assets as objects, making it ideal for gaming, NFTs, and digital assets.
ā¢ Fast Finality: Transactions can finalize in under a second in many cases.
Sui isnāt the only fast, next-gen blockchain out there. Itās up against some heavy hitters like Solana, Ethereum, Aptos, and Avalanche
The total supply of $SUI is 10 billion tokens, and not all of them are in circulation yet. As more tokens are unlocked and enter the market over time (like from staking rewards, team allocations, or ecosystem incentives), it could lead to downward pressure on the priceāespecially if demand doesnāt grow fast enough to keep up.
