SUI (SUI)
Asset ID: 18
SUI serves as the native asset of the Sui blockchain, a Layer 1 network built for deploying smart contracts. It leverages the Move programming language and is designed to process transactions in parallel. The token is utilized for paying fees, staking, and participating in governance.
Within the Sui ecosystem, SUI fulfills several roles. It is required to cover gas costs for transactions and smart contract operations. Users can stake their tokens to help secure the network and receive rewards in return. Additionally, holders can take part in governance by voting on protocol changes and upgrades.
The Sui network went live in May 2023, developed by Mysten Labs. It operates on a Delegated Proof-of-Stake (DPoS) consensus model, allowing validators to efficiently process transactions. Its architecture emphasizes scalability through parallel execution, enabling low latency and more predictable transaction fees.
Since its launch, the ecosystem has continued expanding. In 2025, the Sui Foundation announced a broader push into DeFi, building on an earlier $51.3 million initiative. The focus includes enhancing on-chain infrastructure, particularly scaling DeepBook, a central limit order book designed for high-speed, composable trading and institutional-level applications.
The core team consists of former Meta engineers who previously worked on the Diem and Novi projects. Mysten Labs has raised over $300 million in funding since it was founded.
Network: sui
Category: Other
Track SUI (SUI) price data, market metrics, historical performance and live cryptocurrency chart information on ARMCP Desk.