What is the governance model of SUI coins?

The Sui governance model empowers community members with voting rights, delegated voting mechanisms, and Sui Improvement Proposals (SIPs) to shape the project's future and ensure transparency.

Feb 18, 2025 at 03:06 pm

Key Points:

• Definition of SUI Governance Model
• Tokenomics: Distribution and Allocation
• Governance Structure: Voting Mechanisms and Stakeholders
• Sui Improvement Proposals (SIPs)
• Governance Roadmap and Future Plans

What is the Governance Model of SUI Coins?

SUI is a decentralized cryptocurrency that utilizes a unique governance model to empower its community in shaping the project's future. The governance model is designed to ensure transparency, inclusivity, and long-term sustainability of the SUI ecosystem.

Tokenomics: Distribution and Allocation

• Total Supply: 10 billion SUI tokens

• Initial Distribution:

  • 40% to community (airdrops, liquidity mining)
  • 20% to ecosystem development
  • 20% to core team
  • 10% to Sui Foundation
  • 10% to early investors

Governance Structure: Voting Mechanisms and Stakeholders

• Governance Participants:

  • Token holders (1 SUI = 1 vote)
  • Sui Improvement Proposal (SIP) authors
  • Sui Foundation
  • Core team

• Voting Mechanisms:

  • Direct on-chain voting
  • Delegated voting (coming soon)

Sui Improvement Proposals (SIPs)

• SIP Process:

  • SIPs are proposals that suggest changes to the SUI protocol, network, or ecosystem.
  • Anyone can submit a SIP, which will undergo public review and community voting.
  • If a SIP is approved, it will be implemented by the Sui core team.

• Types of SIPs:

  • Protocol SIPs: Changes to the core SUI blockchain
  • Ecosystem SIPs: Improvements to the SUI ecosystem, including tooling, marketing, and partnerships

Governance Roadmap and Future Plans

• Phase 1 (Current): Establishment of governance structure and SIP process.
• Phase 2: Introduction of on-chain governance portals and delegation mechanisms.
• Phase 3: Expansion of governance participation to a broader range of stakeholders, including ecosystem partners and community organizations.

FAQs:

• How can I participate in SUI governance?

  • Hold SUI tokens and participate in voting on SIPs through an on-chain governance portal.

• What is the role of the Sui Foundation in governance?

  • Provides administrative and technical support to the governance process. Facilitates communication between stakeholders and manages the distribution of ecosystem grants.

• How do I submit a Sui Improvement Proposal (SIP)?

  • Visit the Sui community forum and follow the guidelines outlined in the SIP submission process.

• What are the benefits of participating in SUI governance?

  • Empowerment in shaping the future of the SUI ecosystem.
  • Influence over the development and implementation of new features and upgrades.
  • Contribution to the overall success and sustainability of the SUI network.