$SUI is a high-performance Layer 1 blockchain developed by Mysten Labs, focused on delivering fast, low-cost, and scalable transactions. Unlike traditional account-based blockchains, Sui utilizes an "object-centric" data model and the Move programming language, enabling parallel transaction execution for increased throughput and near-instant finality.

Its native cryptocurrency, SUI, fuels the network, covering gas fees, enabling staking for network security, and facilitating governance. Sui aims to support a wide range of Web3 applications, particularly in DeFi, NFTs, and gaming, by providing a user-friendly and efficient platform.