Sui (SUI)

Sui is a delegated Proof-of-Stake blockchain that enables horizontally scalable throughput, with competitive speed at low costs. The protocol uses Move, a programming language that focuses on security by using a modular architecture.

The Move programming language used by Sui allows parallel execution and horizontal throughput scalability without additional complexity for node operators.

Figment Validator Address:

0x8ecaf4b95b3c82c712d3ddb22e7da88d2286c4653f3753a86b6f7a216a3ca518

Market Cap

$2.9B

Staking Reward Rate*

1.46%

Price

$0.71

Auto-Compounding

Yes

Reward Frequency

1 Epoch (Daily)

Activation

1 Epoch

Withdrawal

1 Day

Slashing Penalties Enabled

Yes

*Staking Reward Rates (SRR) vary based on network conditions, delegation size, and infrastructure optimizations. Contact our team to explore your potential rewards.

Why Stake Sui With Figment?

• SUI is the network native token. It is used for transaction fees, protocol staking, governance, and more
• The max supply for SUI is capped at 10bn and a large portion of the total supply will be liquid at launch
• Sui provides a general purpose platform with high throughput, comprehensive on-chain asset environment, and a user-friendly Web3 experience
• Sui takes a substantial leap in scalability by enabling parallel agreement on casually independent transactions
• Sui enables low latency on-chain trading to facilitate DeFi applications

Sui Staking FAQ

Could Epoch length change?
Only through a Governance vote.

Why stake SUI?
Initially, the SUI is being staked to earn new issuance (“inflationary”) subsidies. This means that the SUI supply will increase by approximately 1,111,111 SUI tokens per epoch (24 hours) and stakers will capture the newly issued SUI through rewards. It is estimated that stakers will earn around 6% annually. However, the subsidies will decrease every 90 days by 10%. So it would reduce from 6% to 5.40%, then 4.86%, reducing continuously each 90 days. Although the inflationary subsidies will reduce over time, the total Staking rewards rate also consists of rewards derived from network activity / gas fees. Due to low network activity upon launch, Stake subsidies will help make up for rewards until the activity picks up and eventually the rewards will largely be derived from gas fees rather than subsidies.

Stakers will also capture fees from network transactions, so as Sui transaction volume increases, SUI stakers will earn more than just new issuance subsidies.

The SUI token also gives stakers the right to vote on policy decisions for how the Sui network will operate and distribute treasury funds. Owning staked SUI is ownership of the Sui network, entitling SUI stakers to set/change the rules of the Sui network.

What is the Sui unbonding period?
Currently, stakers can unbond their tokens right away. Eventually, there will be a unbonding period during which the tokens will be locked to the protocol. The unbonding period is subject to change through governance.

Do I maintain custody of my SUI tokens?
While your tokens are staked, you remain in control of your tokens. Third party custody providers such as Anchorage, Bitgo, and Ledger Enterprise offer services for storing your private keys for SUI.

Can my staked SUI be slashed (seized or destroyed)?
No, staked SUI cannot be slashed, however rewards can be slashed under specific conditions:

1. Community monitoring: Validators score each other to ensure efficient network operation. This “tallying rule” system allows the validator community to monitor and hold each other accountable.
2. Conditions for slashing: Validator X will be slashing if over two-thirds of validators by stake vote, via the tallying rule during epoch Y, to slash validator X for poor performance during that epoch.
3. Impact of slashing: If slashed, the validator pool forfeits 100% of the rewards accrued during the slashed epoch. However, the principal staked amount if not affected. This penalty impacts both the validator (which loses all commissions) and it’s delegators (who lose all rewards for that epoch).
4. Sticky Tallying scores: If a validator scores another validator as zero, this scoring remains until the scoring validator updates it back to one. Consequently, a validator could continue to face slashing penalties until the required score threshold is updated.

How are staking rewards disbursed? Are staking rewards automatically staked?
Staking rewards on Sui Network are automatically distributed every 24 hours and Figment is never in control of your rewards. The rewards are both staked and compounded automatically, which means you will need to unstake to withdraw.

Can I miss out on potential staking rewards?
Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking rewards, and if your validator acts maliciously, you may be slashed a portion of your staked SUI tokens.

An additional way that a staker might miss out on rewards is by quoting an incorrect gas price that is enough outside of the norm to lead to an unoptimized Gas Reference Price for the network. This would mean that the reference price quoted by an individual validator could lead to suboptimal fee accrual from transactions on the network and resulting suboptimal transaction fee accrual for a validator. We do not cover a suboptimal rewards rate for the network on the basis of an out-of-norm RGP, but do have an optimization strategy that should lead to optimal rewards.

How are decisions about the network made?
Sui uses token voting for on-chain governance, the details of which are not clear at this time.

If you have any outstanding questions, please feel free to reach out to our team at sales@figment.io.