About Sui (SUI)
SUI is the native token of the Sui blockchain, a Layer 1 platform developed for smart contract deployment. The network uses the Move programming language and supports parallel transaction execution. SUI tokens are used for transaction fees, staking, and governance.
The token has multiple utilities within the Sui ecosystem. It is used to pay for gas fees associated with transactions and smart contract execution. Token holders can stake SUI to support network security and earn rewards. Additionally, SUI enables participation in on-chain governance, allowing users to vote on protocol-level decisions and updates.
The Sui network was launched in May 2023 by Mysten Labs. The blockchain employs a Delegated Proof-of-Stake (DPoS) mechanism, enabling validators to confirm transactions efficiently. The architecture is designed to support scalability through parallel execution, which helps maintain low latency and predictable gas fees.
Since launch, the project has continued to develop its ecosystem. In 2025, the Sui Foundation announced an expansion of its DeFi efforts, building on the previously introduced $51.3 million fund. The foundation has increased support for on-chain infrastructure, with a focus on scaling DeepBook, an on-chain central limit order book. This system is designed to support institutional-grade DeFi applications by offering high-speed and composable trading services.
The development team includes former Meta engineers who contributed to the Diem and Novi projects. Mysten Labs has secured more than $300 million in funding since inception.
SUI has a total token supply capped at 10 billion. At the time of writing, approximately 3.56 billion tokens are in circulation.
SUI is listed on Binance and you can buy, sell and trade the token on Binance. The live price of SUI is available and updated in real time on Binance.