Sui Blockchain Tokenomics Announcement Before Mainnet Launch

Key Points:

• Sui blockchain posted tokenomics and information about the upcoming coin.
• Tokenomic is designed to create a blockchain environment with low cost but still high performance.
• The project is being enthusiastically responded to by the community ahead of the mainnet launch.

On April 21, Sui blockchain officially announced tokenomics to prepare for the mainnet launch and the pre-sale opening according to the set schedule.

According to the development team’s announcement, Sui operates its platform around three main parties, including:

• General users: those who conduct transactions to create, transfer digital assets, or interact with applications on the Sui ecosystem.
• Staker: SUI holders and token keys participate in staking to contribute to the network’s security, participate in administrative activities, or use paid SUI to interact with applications on the chain.
• Validators: people who validate, process and execute transactions.

The parties will support each other to operate a stable Sui economy.

At mainnet time, Sui will have a total supply of 10 billion SUI tokens, distributed as follows:

• More than 50% of the total tokens are allocated to the Community Reserve – a community reserve fund managed by the Sui Foundation. Many programs divide this token among builder, researcher, and validator.
• Most of the remaining 50% of SUI is for those who contributed, supported, and trusted the project from day one.

Overall, SUI’s token allocation plan needs to provide details as previously announced in December 2022.

Also, according to the announcement, the SUI token has four core uses:

• Staking to secure the network and in return for passive rewards one of the ways to encourage the community to join the network;
• Pay transaction fees on the network;
• Provide on-chain liquidity;
• Grant the right to participate in voting on proposals.

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

As information in the previous article, after much speculation, Blockchain’s development team finalized the mainnet deployment schedule on May 3. The whitelist portal to participate in the project IDO is closed and no longer accepts new registrations. The project has screened out 180,000 accounts eligible for presale and is sending email notifications to users.

The project will not airdrop tokens, instead opening and selling 594 million SUI token through two rounds of General Sale and Whitelist Sale on several designated exchanges. The lucky ones who win the whitelist can buy SUI at a preferential price of 0.03 USD/token. This is one of the hottest projects on the market that is eagerly awaited by the community.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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