What is SUI

1. Project Introduction
Sui is a permissionless, PoS-based Layer 1 blockchain designed for high throughput and instant settlements, supporting the next generation of decentralized applications (dApps). Developed by former members of Facebook's Diem project, Sui retains many of Diem's technological innovations, drawing significant attention and funding. The ecosystem has over 100 projects spanning DeFi, NFTs, gaming, and Web3 tools. The native token, SUI, is used for gas fees, staking, securing the network, and governance.
2. Team & Investment Info
Founders: Sui was developed by a team of researchers previously working at Novi Research (Meta's crypto research arm). Key members include:
Evan Cheng (CEO of Mysten Labs), who led Meta's crypto wallet project and is one of the key developers of the Move programming language.
Adeniyi Abiodun (COO), former Novi product leader with experience at VMware and JPMorgan.
Sam Blackshear (CTO), former Novi engineer focused on the Move language.
George Danezis (Chief Scientist), former Novi researcher.
Kostas Chalkias (Chief Cryptographer).
Funding: In November 2021, Mysten Labs completed a $36 million Series A led by a16z, with participation from Coinbase Ventures, Samsung Next, and others.
In September 2022, Mysten Labs raised $300 million in a Series B round, valuing the project at over $2 billion. Investors included FTX Ventures, Jump Crypto, Circle Ventures, and others.
In January 2023, Sui ecosystem wallet Ethos completed a $4.2 million seed round.
3. Social Media URLs
X: https://x.com/SuiNetwork
Discord: https://discord.gg/sui
4. Token Info
Token Symbol: SUI
Total Supply: 10,000,000,000 SUI
Token Type: Mainnet Coin
Issuance/Burn Mechanism: Fixed supply
Contract Address: SUI mainnet, 0x2::sui::SUI
Token Distribution:
50% for community reserves.
20% for early contributors.
14% for investors.
10% for the Mysten Labs treasury.
6% for community access programs and app testers.
For more details, refer to the white paper: https://docs.sui.io/
5. Related Links
Official Website: https://www.sei.io/
Other Info: https://www.rootdata.com/Projects/detail/Sui?k=Mjc5Nw%3D%3D
GitHub: https://github.com/MystenLabs
DefiLlama: https://defillama.com/chain/Sui
Medium: https://medium.com/mysten-labs