Sui (SUI) Announces Tokenomics Ahead of Mainnet - Sui, the blockchain project taking the spotlight in the crypto space recently, has published a blog that overviews the basics of Sui tokenomics to get everyone up-to-date.

    Sui officially announced its tokenomics on April 21 in order to prepare for the mainnet launch as the upcoming presale. 

    Accordingly, the Sui economy has 3 main sets of participants:

    • General users: those who create, change or transfer digital assets or use apps on Sui
    • Stakers: who either stake funds to validators or pay fees to interact with assets and apps on-chain
    • Validators: who manage, process and execute transactions.

    The participants will support each other to create a solid Sui economy.

    Token allocation:

    The total supply of SUI is capped at 10 billion tokens. More than 50% of SUI tokens are allocated to the Community Reserve –  a community reserve fund, managed by the Sui Foundation. These tokens will be distributed to builders, researchers, validators, and other network participants through a variety of programs. Most of the remaining 50% of SUI is for those who contributed, supported and trusted the project from the very beginning.

    SUI utilities:

    • Can be staked to a validator in order to secure the network
    • Can be used to pay gas fees to execute transactions + other operations
    • Can be used as a native asset for on-chain txns
    • Give holders the right to participate in future governance

    Sui’s tokenomics is designed in sync with the platform’s technical structure, in order to create a blockchain environment with low cost but still high performance. With this goal in mind, Sui is committed to treating all members of the ecosystem fairly, from developers to general users.

    Sui network will officially launch the mainnet on May 3. The number of accounts meeting the requirements to join the whitelist and purchase IDO is limited to 180,000, excluding bots and duplicate IDs. The project is sending email notifications to users.

    The project will not airdrop tokens, instead offering  a presale of 594 million SUI, which is expected to generate approximately $49.32 million in revenue. Users can buy $SUI at a price of $0.1 in General Sales; only Sui Champions & Supporters can buy $SUI at a price of $0.03 in Whitelist Sales.

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