SUI Token Explained
- undefined Sui Global
SUI is the native token of the Sui blockchain, and it has a fixed supply of ten billion tokens. The purpose of SUI is multifaceted, and the token fulfills several functions within the Sui ecosystem. Specifically, SUI has the following four main functions: First, SUI is used to pay gas fees for transactions and other occurring on-chain operations. Second, it is possible to stake the token in order to participate in the platform’s PoS mechanism. Third, SUI is an asset and works as a medium of exchange/to store value. Lastly, SUI plays an essential role in the governance of the Sui blockchain. As such, token holders gain the right to participate in on-chain voting.