Mysten Labs Announces Sui's Tokenomics

Web3 infrastructure company Mysten Labs announced the tokenomics of its Layer1 blockchain Sui. The economy has five core components: native asset $SUI, gas fee mechanism, storage fund, PoS mechanism and on-chain voting. The total supply of $SUI is capped at 10 billion. The token serves four purposes: to be staked to participate in PoS mechanism, to pay gas fees, to be a liquid asset and to give on-chain voting rights.