What is SUI? Detailed introduction to the trading platform and total amount of SUI coins

SUI, a promising layer 1 blockchain project focused on scalability, anticipates the availability of its native token for trading upon the launch of its mainnet in Q2 2023.

Oct 15, 2024 at 01:36 pm

What is SUI?

1. Overview

SUI is a layer 1 proof-of-stake blockchain project that focuses on scalability for enterprise-level use. It employs a unique transaction ordering mechanism known as Proof-of-Work Time (PoWT) to increase throughput without sacrificing security or decentralization.

2. Trading Platform

SUI currently does not have its native token available for trading, as the project is still in the testnet phase. The mainnet launch is scheduled for Q2 2023, after which SUI tokens will be available for purchase and trading on exchanges.

3. Total Supply of SUI Coins

The maximum supply of SUI tokens is 10 billion, with an initial allocation of 6.9 billion during the mainnet launch. The remaining 3.1 billion will be released over a period of time through various programs, such as liquidity mining and staking rewards.

4. Trading Platform (Expanded)

Once the mainnet is launched and SUI tokens become available for trading, there will likely be a range of centralized and decentralized exchanges that support the asset. Some potential trading platforms include:

Binance
Coinbase
FTX
Uniswap
PancakeSwap

5. Additional Details

SUI is founded by Mysten Labs, a team of former Meta engineers.
The project has raised over $360 million in funding to date.
SUI's technology has the potential to process over 1 million transactions per second.
The platform is designed to be user-friendly and accessible for developers.

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