What is SUI?
Sui is a layer-1 blockchain that is built for scalability and high-throughput applications like decentralized finance (DeFi), gaming, and NFTs, using its native token, SUI, for transactions and other network functions. It uses an object-centric model and a parallel transaction execution engine to enable near-instant settlement times and low gas fees, and its validators can scale horizontally to meet demand. The SUI token is used to pay for network transaction fees, staking, and governance.