Overview

Coins (equivalent to ERC-20 tokens on Sui) are fungible tokens that can be used for payments and staking. A coin object must contain the denomination type and the amount minted. Coins can appear on exchanges through ICO.

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Sui ownership is particularly favorable for coin creation and handling. Sui has developed several coin standards. This enables the adoption of CBDCs (Central Bank Digital Currencies), which can potentially bridge RWAs (Real-World Assets) to Web3.

To view a list of coin denominations on Sui, go to Suiscan.

SUI Coin

The native coin is SUI. Only this denomination is used for staking. The total supply of SUI is capped at 10,000,000,000 (ten billion coins).

The SUI coin serves the following purposes:

• staking
• gas fee payment
• cryptocurrency having the standard functions of money - a unit of account, a medium of exchange, or a store of value.
• governance

Coin Standards

The Coin standard is the technical standard used for smart contracts on Sui to create fungible coins on the Sui Network. Standardizing coin creation on Sui means that wallets, exchanges, and other smart contracts can manage coins created on Sui the same way they manage the SUI coin without any additional processing logic.

Coins on Sui can offer specialized abilities. For example, you can create a regulated token that allows its creator to add specific addresses to a deny list so that the identified addresses cannot use the token as inputs to transactions.

Coin Type

Fungible (transferrable) tokens are denominated by their type parameter, which is also associated with metadata (name, symbol, decimal precision, etc.) that applies to all instances of this coin denomination.

Treasury Capability

When you create a coin, the publisher of the smart contract that creates the coin receives a TreasuryCap object required to mint new or burn current coins. Consequently, only addresses that have access to this object are able to maintain the coin supply on the Sui network. The TreasuryCap object is transferable, so a third party can take over the management of a coin. After transferring the capability, however, the previous owner can no longer mint and burn tokens.

Regulated Coins

Sui provides a way to create a Coin with a global Denylist. This is useful for creating a regulated coin, where the issuer can restrict certain accounts from holding the coin. This prevents known bad actors from having access to those coins.

Close-Looped Coins

Using the Closed-Loop Token standard allows users to limit the applications that can use the token and set up custom policies for transfers, spends, and conversions. The Coin standard on Sui is an example of an open-loop system - coins are free-flowing, wrappable, and freely transferable, and you can store them in any application. The best real-world analogy would be cash - hardly regulated and can be freely used and passed.

Read more about coins in Sui official docs.

Suiscan shows a list of all coins on Sui.