SUI Token: The driving force of the Sui ecosystem – gas, staking, governance! 💎🚀
SUI is the native token of the Sui blockchain, playing a central role in the functioning and security of the entire ecosystem.
Gas for transactions: SUI is used to pay fees for all operations on the network, including executing transactions and smart contracts. This prevents spam and incentivizes validators.
Staking: Holders of SUI can stake their tokens by delegating them to validators participating in the Proof-of-Stake mechanism. This ensures the security of the network and allows for rewards to be earned.
Governance: SUI holders have the right to participate in the governance of the protocol by voting on proposals for its development and changes.
Storage Fund: A portion of transaction fees goes to the storage fund, which is used to compensate validators for storing data on the Sui network.
The SUI token is an integral part of a decentralized, secure, and scalable Sui network, ensuring its functionality and resilience.