The native asset on Sui is called SUI. The token uses the capitalized version of SUI to distinguish the token from the Sui network.
The total supply of SUI is capped at 10,000,000,000 (ten billion tokens). A share of SUI total supply became liquid at Mainnet launch, with the remaining tokens vesting over the coming years, or distributed as future stake reward subsidies.
The SUI token serves four purposes on the Sui network:
- You can stake SUI to participate in the proof-of-stake mechanism.
- SUI is the asset denomination needed to pay the gas fees required to execute and store transactions or other operations on the Sui network.
- You can use SUI as a versatile and liquid asset for various applications, including the standard features of money - a unit of account, a medium of exchange, or a store of value - and more complex functionality smart contracts enable, interoperability, and composability across the Sui ecosystem.
- SUI token plays an important role in governance by acting as a right to participate in on-chain voting on issues such as protocol upgrades.
Because there is a finite supply of the SUI token, the same amount of tokens need to be used across more economic activities in the long run if Sui unlocks many use cases and millions of users migrate to the platform. In addition, the presence of the storage fund creates important monetary dynamics, in that higher on-chain data requirements translate into a larger storage fund, reducing the amount of SUI in circulation.