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What is the issuance and circulation of SUI coins?
As of March 2023, the circulating supply of SUI coins stands at approximately 150 million, with more tokens expected to be mined and enter circulation over time.
Oct 17, 2024 at 11:24 am
Issuance of SUI Coins
Initial Distribution:
- SUI coins were initially distributed through an airdrop to Sui testnet participants in September 2022.
- Approximately 120 million SUI tokens (15% of the total supply) were distributed to eligible users.
Genesis Block:
- On September 22, 2022, the Sui mainnet launched with the issuance of the genesis block.
- The genesis block contained 20 million SUI tokens.
Proof-of-Work Mining:
- Soon after the mainnet launch, SUI tokens became available for mining through a Proof-of-Work (PoW) mechanism.
- PoW mining rewards miners with newly minted SUI coins.
Circulation of SUI Coins
As of March 2023, approximately 150 million SUI tokens are in circulation:
- Initial Distribution: 120 million SUI
- Genesis Block: 20 million SUI
- Proof-of-Work Mining: Approximately 10 million SUI
The circulating supply of SUI tokens is expected to gradually increase over time as more tokens are mined. The total supply of SUI coins is capped at 2 billion tokens.
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