The Sui blockchain presents a distinct architecture designed for high performance and low-latency transactions. Unlike traditional account-based blockchains, Sui utilizes an object-centric data model. In this paradigm, digital assets, whether fungible tokens or non-fungible collectibles, are treated as independent “objects.” This design allows for parallel processing of transactions involving different objects, which is a key contributor to the network’s scalability. The creation and management of these assets are governed by smart contracts written in Move, a programming language emphasizing security and formal verification.
The Sui Framework and Fungible Assets
Within the Sui ecosystem, fungible tokens are officially referred to as “coins.” The process for creating them is standardized by the coin module within the core Sui Framework. This framework provides a secure and reusable template for developers and creators. When a new coin is created, two critical objects are generated: the TreasuryCap and CoinMetadata. The TreasuryCap object gives its owner the monopoly of producing new units of the coin. The coinMetadata object contains the basic information on-chain associated with the coin including the name of the coin, its symbol, a description of the coin and the number of decimal places where the coin is divisible. Such a standardized solution is similar to compatibility with the rest of the Sui ecosystem, such as wallets and decentralized finance (DeFi) applications.
Pathways to Deploying a New Coin
There are two primary methods for launching a new fungible asset on the Sui network. The more technical approach involves using the Sui Command Line Interface (CLI). This requires writing a small deployment module in the Move language that utilizes the standard coin module. The packager then transfers this package to the network that sets the new type of coin and attaches the TreasuryCap to their account. Though this approach is able to provide complete control, it requires knowledge of the Move language and development tools. To facilitate this process, user-friendly sites have been created to enable project founders and creators to handle this process without the need to have this particular technical background. Services like the one available at https://20lab.app/generate/sui-token/ provide a guided interface for defining and deploying a new coin on the network, abstracting away the underlying code.
Essential Properties of a Sui-Based Token
To launch a new coin on Sui, several key properties must be defined. These parameters will be permanently recorded in the CoinMetadata object on the blockchain, making them publicly verifiable. The required information consist of the full name of the asset, a ticker symbol (usually 3-5 characters) and the number of desired decimal places, which also defines its smallest common unit. There must also be specified an initial supply of the coin to be minted when it is created. Also, optional icon URL is available to give a visual representation to the coin that can be used in wallets and block explorers. This information is essential to determine the identity and role of the coin in the digital economy of the Sui network.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. The cryptocurrency market is highly volatile and speculative. Always conduct your own research and consult with a qualified professional before making any investment decisions.
