Sui is built to offer fast, low-cost transactions and better support for decentralised apps that need high throughput, such as games, social platforms, and digital collectibles. It was designed to solve key limitations in existing blockchains, such as slow transaction speeds, high gas fees, and limited scalability.
Unlike many traditional chains that process transactions sequentially, Sui can process many transactions in parallel. This means it can handle a much higher volume of activity without clogging the network or driving up costs.
Sui also introduces new ways to manage digital assets on-chain. Instead of treating everything like a balance in an account, Sui uses an object-based model where each asset lives independently on the blockchain. This improves both performance and flexibility for developers.
Who created Sui?
Sui was created by Mysten Labs, a blockchain technology company founded by former engineers from Meta’s Novi crypto team. The founding team includes Evan Cheng, Adeniyi Abiodun, Sam Blackshear, George Danezis, and Kostas Chalkias. These engineers helped build Diem, Meta’s blockchain project, and brought their experience into creating a more scalable and developer-friendly platform.
Mysten Labs launched Sui to push blockchain performance further, especially for consumer-facing applications that need real-time responsiveness.
What is the native cryptocurrency of Sui?
The SUI token is used to pay for transactions and smart contract execution on the Sui network. It also plays a role in staking and governance. Token holders can delegate their SUI to validators to help secure the network and earn rewards in return.
In addition, SUI is used in decision-making processes that influence protocol upgrades and other key governance proposals. This gives the community a voice in how the network evolves over time.
Note
Luno does not currently support sending or receiving SUI, but you can still buy or sell it like any of our other cryptocurrencies. This decision has been made in order to ensure there are appropriate controls in place to maintain the highest standards of investor protection. Learn more about why you can't send or receive SUI.
Security incidents
Sui has experienced the following security incidents:
Cetus DEX Exploit (2025)
A major exploit of the Cetus protocol caused by a math library bug resulted in a ~$223 million theft; validators coordinated an on-chain vote to freeze a large portion of the stolen funds. Source: Binance
P2P DoS Vulnerability (2023)
A denial-of-service vulnerability in the P2P protocol was patched in version 1.6.3 before any known exploitation. Source: Binance
The above list of incidents may not be exhaustive. As always, it’s important that you do your own research to ensure you’re comfortable with an asset’s associated risks before investing in it.
Token supply and concentration
SUI has a maximum supply of 10.00 billion. As of November 2025, the top 10 addresses control approximately 18.16% of the circulating supply.
Visit this external link to see the distribution among SUI’s top token holders.
Tip
Keen to explore Sui a bit more? You can learn about SUI basics and get all the latest cryptocurrency news on Luno Discover.
Want to know how to buy and sell SUI? We’ve got answers in the following help articles:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.