What is Sui?

A next-generation blockchain for mass adoption

Sui is a Layer 1 blockchain launched in 2023 by Mysten Labs, a company founded by former Meta engineers who previously worked on the Diem blockchain project. Their goal with Sui is to overcome the scalability and efficiency limitations of earlier blockchains like Bitcoin and Ethereum, making blockchain technology suitable for millions of daily users.

At its core, Sui introduces an innovative object-based data model where all digital assets are treated as programmable objects with unique attributes. This allows transactions to be processed in parallel, rather than sequentially as on most blockchains. The result is a network capable of extremely high throughput, low latency, and near-instant transaction finality.

The native asset of the network, SUI, is used to secure the blockchain, pay fees, and enable participation in governance. By focusing on speed, usability, and developer-friendly design, Sui aims to become a foundation for applications across DeFi, NFTs, gaming, and the broader Web3 economy.

Why Sui?

Sui’s architecture and vision bring several advantages that set it apart in the blockchain ecosystem:

Scalability through parallel execution: Unlike blockchains that process transactions one by one, Sui can handle many transactions simultaneously. This makes it possible for the network to scale horizontally as demand grows, ensuring performance even during peak usage.

Fast and final transactions: Most transactions on Sui achieve finality in under a second, providing users with an experience closer to traditional payment systems while avoiding issues like reorgs or rollbacks.

Low and predictable fees: Sui uses a gas pricing model that keeps transaction costs stable and affordable, an important feature for consumer-facing applications like games or micro-payments.

Object-centric design: Sui treats tokens, NFTs, and smart contract assets as programmable objects. This makes the blockchain highly flexible and allows developers to create complex applications more easily than on traditional account-based chains.

Developer and user focus: With strong tooling, SDKs, and a programming language called Move (developed originally at Meta), Sui is designed to make building Web3 apps more accessible for developers while ensuring smooth and intuitive experiences for end users.

SUI: The asset powering the network

The SUI token is at the center of the blockchain’s economy and provides multiple functions that ensure the stability and security of the network:

Transaction fees: All activity on the Sui network, from sending tokens and trading NFTs to running smart contracts, requires SUI to pay for gas fees.

Staking and security: Sui is a delegated proof-of-stake network. Token holders can stake their SUI with validators to secure the network, helping maintain its integrity while earning rewards.

Governance: SUI holders participate in decision-making processes, voting on key protocol upgrades, economic parameters, and governance rules.

Ecosystem utility: SUI is widely used within the growing ecosystem, including DeFi protocols, NFT platforms, and blockchain-based games. Its design ensures that as adoption of the network grows, demand for the token also increases.

In short, SUI is not just a utility token, it is an integral part of the blockchain’s performance, security, and governance.

Sui's Vision

Sui’s mission is to unlock the next wave of blockchain adoption by creating infrastructure that can handle real-world scale. Where earlier blockchains often struggled with congestion, high fees, and poor user experience, Sui is designed to feel seamless and efficient for millions of users.

The project envisions Web3 applications that rival traditional apps in speed, cost, and usability. For example, in gaming, Sui’s parallel execution allows thousands of in-game actions to be processed simultaneously without delays. In finance, instant settlement and low costs make it practical to send payments, trade assets, or interact with DeFi protocols globally.

By combining technical innovation with strong developer support, Sui aims to become a foundational blockchain for decentralized applications across industries, from entertainment to finance and beyond.

Invest in Sui

Virtune Sui ETP is a physically-backed exchange-traded product (ETP) designed to offer investors a secure and cost-effective way to gain exposure to Sui (SUI). This is made possible through a transparent and physically-backed structure with institutional-level security.

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