Sui (SUI) Unveils Tokenomics Ahead of Mainnet Launch

Sui, a blockchain project that has recently captured significant attention in the crypto community, has officially unveiled its tokenomics and details about its upcoming coin.

On April 21, Sui released its tokenomics to prepare for the mainnet launch and the scheduled pre-sale.

Key Components of Sui

Sui operates its platform around three main entities:

1. General Users: Individuals who conduct transactions to initiate, transfer digital assets, or interact with applications within the Sui ecosystem.
2. Stakers: Holders of SUI who lock their tokens to participate in staking, contributing to network security, governance, or using SUI to pay for interactions with chain-based applications.
3. Validators: Entities responsible for validating, processing, and executing transactions.

These parties will work together to support a robust Sui economy.

SUI Token Allocation

At the time of the mainnet launch, SUI will have a total supply of 10 billion tokens, allocated as follows:

• Over 50% of the total supply is allocated to the Community Reserve, managed by the Sui Foundation. These tokens will be distributed to builders, researchers, validators, and others through various programs.
• Nearly 50% of the remaining SUI is designated for contributors, supporters, and early believers in the project.

Overall, SUI’s token allocation plan does not provide as much detail as previously announced in December 2022.

Uses of SUI

According to the announcement, SUI has four core uses:

1. Staking to secure the network and earn passive rewards, incentivizing community participation.
2. Paying for network transaction fees.
3. Providing liquidity on-chain.
4. Voting on proposals.

Sui’s tokenomics are designed to align with the technical structure of the platform, aiming to create a blockchain environment with low costs while ensuring high performance. Sui is committed to fair treatment of all ecosystem members, from developers to general users.

As reported by Coin68 in a previous article, after much speculation, the Sui Blockchain team has set the mainnet launch date for May 3. The whitelist registration for the project’s IDO has closed, and no new registrations are being accepted. The project has filtered 180,000 eligible accounts for the presale and is in the process of notifying users via email.

The project will not conduct an airdrop but will instead sell 594 million SUI through two rounds: General Sale and Whitelist Sale, on designated exchanges. Whitelisted participants will be able to purchase SUI at a discounted rate of $0.03 per token.