As a native token of a unique Layer 1 blockchain and smart contract platform, the SUI token provides accessible digital asset ownership. This token supports a PoS consensus mechanism where you can stake your SUI and receive rewards. The token has other uses, including governance and making payments in gas fees. It's available on popular exchanges, and you can purchase the token ever since its launch on the SUI Mainnet. The token has a maximum supply of 10,000,000,000 SUI coins with tokens now in circulation after its recent launch on its mainnet.
A Bit About Sui
As the original contributor to Sui, Mysten Labs played a role in founding the Sui token with the stewardship of former executives of Meta's Novi Research. Since the Sui Mainnet launch on May 3rd, 2023, you can purchase the token and begin enjoying its uses. The token pays for the storage fund, compensating future validators for on-chain data costs stored earlier. Sui tokens also pay for gas fees in various transactions. A Community Access Program allowed Discord users on their server before February 2023 to receive tokens at reasonable prices. Many can use the token, including those active on their community forums, creators, developers, and participants who stake it on the Mainnet.
Get involved in the native coin on the new Sui blockchain and earn staking rewards!CryptoLists.com
The token runs on a highly scalable network with significant growth potential with Web3 for more satisfactory performance and usability. Participants include users transacting on the Sui platform while interacting with digital assets. SUI token holders also receive governance rights while validators manage the processing and implementation of actions on the platform. This native asset of the Sui platform operates to pay gas fees on network operations and reward participants who stake it. You can earn staking rewards overtime via the SUI token as well as reimburse validators for costs incurred for storing on-chain data.
Utility of Sui?
Creators and developers can easily use the token to enhance their user-friendly experiences of the Sui Blockchain. The native token known as SUI helps pay for gas.
The delegated Proof of Stake model enables you to stake the tokens with validators within an epoch. The power of validators to vote during the time depends on the amount of SUI they have in their staking pool. The end of the time marks when the fees are collected from all transactions.
Validators receive compensation based on their contribution to the network. They also receive fees from staking their SUI tokens.
Sui Price details
›› SUI tokenomics and social media
Advantages of Sui+ SUI token has a credible founding team of former Meta executives.
+ SUI token incurs low gas fees while using its chain.
+ It facilitates fast transactions on the chain.
+ Token holders participate in the governance of the token's platform.
+ You can trade SUI tokens in some exchanges.
Disadvantages- The token is relatively new without an established reputation.
- Its incompatible with the EVM.
- SUI has a relatively low value compared with established cryptos.
- It's available for trade in a few exchanges.
- There's limited information concerning Sui.
Costs▪ Rated at 9/10
The costs when using the token depend on the purpose of your transaction. The gas fees depend on the amount you are transacting, and they can vary depending on how the token performs while processing your transaction.
You can also incur costs as you purchase SUI tokens on the SUI Mainnet, reliant on how many tokens you purchase.
You can incur lower fees when you make bigger purchases. Also, you can incur costs when purchasing the token from popular exchanges, which have different fees when you make the transaction.
Reputation and Buzz▪ Reputation rated at 8/10
▪ Buzz rated at 9/10
Sui (SUI) is a recently launched token emerging in the crypto market. It's generating much interest among crypto enthusiasts as it has innovative features and is part of a unique and revolutionary blockchain. Discord members who have been there before the token launched on the Mainnet rave about the token and express optimism that the token will reach greater heights. The token's unique attributes give it the potential to make an impact considering it operates on advanced technology.
Social media platforms and forums witness how it has caught the attention of many and how they anticipate the rise of the token as time progresses. People discuss its use cases and future developments, and they expect it to have brand partnerships that leave the people anticipating the future of the token. You will also find many users on Twitter retweeting about how good it is, and how far they expect it to go. People who have voted in online polls say this token will transform the crypto sphere.
Some skeptical individuals talk of having caution, but they do not dismiss the token. They want people to be careful, as the crypto market is unpredictable. Crypto investors and users have been evaluating how viable the Sui token is, and due to having an impeccable team behind it, they believe that this token will overcome all odds. The token's reputation will evolve as it proves its worth through its functions and community engagement.
Which exchanges can I trade in Sui stock?
You can use exchanges like OKX, Binance, Deepcoin BingX, and Bitrue.
How can you store SUI?
You can use SUI-compatible Wallets, including the SUI wallet, the official wallet built by the Sui Team.
What is the maximum supply of SUI tokens?
There's a maximum supply of 10,000,000,000 SUI coins.
History of Sui
3rd May 2023 -Sui Mainnet was launched, enabling you to purchase Sui Tokens.
22nd May 2023 - Sui Network announced on its Twitter that the Sui token uses PoS consensus, and validators need to agree on valid transactions and earn native Sui tokens for
25th May 2023 - Sui Network announced its partnership with Cosmocadia joining the community using the Sui Tokens as they build their game on the Sui Network.