What Is the SUI Token?
SUI is the native cryptocurrency of the Sui Network, a high-performance Layer‑1 blockchain built on the Move programming language by former Meta engineers at Mysten Labs .
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🔧 Token Utility & Governance
Gas & Storage Fees: SUI is used to pay for transaction execution and on-chain storage. Storage fees go to a storage fund, which compensates validators over time .
Staking & Consensus: Based on delegated proof-of-stake, SUI holders can delegate tokens to validators and earn staking rewards .
Governance: Holders participate in on-chain voting on protocol upgrades and network changes .
DeFi Asset: Used across a growing ecosystem of DeFi protocols—DEXs, lending, liquidity tools, NFTs, and gaming—within Sui .
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📊 Token Economics
Feature Details
Max Supply 10 billion SUI (capped)
Initial Release ~5% in circulation at mainnet launch (May 2023), followed by scheduled unlocks, including a one-year cliff until May 2024
Allocation ~50% to Community Reserve, 20% Early Contributors, 14% Investors, 10% Mysten Labs Treasury, 6% Community Access Program
Storage Fund Mechanism Storage fees reduce circulating supply and redistribute rewards to compensate future validators
