Project Summary

Sui is a Layer-1 blockchain that is designed to limit how long it takes to execute smart contracts and support scalability for decentralized applications (dApps). The blockchain uses an object-centric data model that stores digital assets and their attributes on-chain but outside of smart contracts. And parallel processing helps to finalize simple transactions, such as asset transfers, in real time while maintaining security. Sui is named after the element water in Japanese philosophy, a reference to its fluidity and flexibility that developers can use to shape the development of Web3, according to the project’s whitepaper.


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Sale Begins 1.12.2023 02:00:00 UTC 1.02.2024 16:00:00 UTC

What is SUI

The Sui blockchain is Layer 1, meaning it provides the underlying infrastructure for a system of validations and transactions in much the same way as the foundational Bitcoin or Ethereum networks. Layer 1 blockchains are the fundamental architecture which support a token—or, in some cases, a broader network of different tokens.

Sui sets itself apart from other Layer 1 chains with its focus on instant transaction finality, reduced latency in smart contract deployment, and overall transaction speed. One of the ways it aims to achieve these goals is through Move, a native programming language based on the Rust crypto programming language. Move hopes to make the development of smart contracts easier for developers, thereby expanding access and functionality within the Decentralized Finance (DeFi) industry.

Sui’s validators are akin to miners in other blockchain ecosystems. However, its validation system aims to set itself apart from rivals by providing parallel processing of transactions, which Sui developers believe will increase throughput, reduce latency, and enhance scalability. The potential use cases of a parallel-process validation system including gaming, retail payments, and physical points of sale using Sui.

To make possible this type of transaction processing, Sui scales horizontally, meaning it has no upper limit to meet application demand, and it can maintain low operating costs with each transaction. Sui does not require global consensus on an ordered list of transactions, which is a key bottleneck area for many existing blockchains..

Who is behind SUI

Sui was developed by Mysten Labs, led by several former senior executives and architects for Meta’s now-defunct digital wallet program, Novi. It utilizes a delegated proof-of-stake consensus mechanism, with a new set of token holders picking validators for token staking every 24-hour period. Staked tokens are locked during each of these periods, or epochs, but can be pulled or changed to a new delegated validator at the time the epoch changes.

Prior to its mainnet launch, Sui’s developers announced a successful $300 million Series B funding round in support of development.


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Small Selection Of Core Team Members (60+)

Evan Cheng
Adeniyi Abiodun
George Danezis
Will Riches
Head Of Developer Relations
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