Sui
Crypto Overview
Project Overview
Sui is a layer-1 blockchain platform developed by former Meta (Facebook) employees who worked on the Diem project. It launched its mainnet in May 2023 and focuses on delivering high throughput, low latency, and horizontal scalability through its unique parallel transaction execution model.
Intended Utility
Sui's primary purpose is to serve as a smart contract platform for decentralized applications with a focus on asset tokenization, gaming, and social applications. The SUI token is used for network security through proof-of-stake validation, transaction fee payments, and governance participation.
Actual Utility & Adoption
The platform has demonstrated genuine utility through multiple real-world applications, including NFT marketplaces, DeFi protocols, and gaming platforms. As of early 2024, Sui has over 300 active projects building on its ecosystem, with significant developer activity and regular protocol updates.
Token Distribution & Governance
The initial token distribution allocated 20% to core contributors with a 4-year vesting period, 21.5% to the community reserve, and significant portions to early investors and ecosystem development. The vesting schedules and lock-up periods appear reasonable and designed to prevent immediate selling pressure.
Development vs Marketing
The project maintains a strong focus on technical development with regular GitHub commits and protocol improvements. While marketing efforts exist, they appear proportionate and focused on developer adoption rather than token price speculation.
Revenue Model & Operations
The platform generates revenue through transaction fees paid in SUI tokens, which are used to compensate validators securing the network. This model aligns with Islamic principles as it represents payment for actual services rendered.
Crypto Impact
To assign a comfort level investing in Sui from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sui.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.