Tokenomic is the core of any project. From It depends can the project is successful or not. A lot of projects had big hype while they were in testnet, but when they came out on the mainnet network, poorly designed tokenomics — was killing the project. The gas of transaction became very expensive and the speed of transaction very slow. So Sei has created its own revolution tokenomic and I want to do a review of it. So, Let’s start.
- Everything that lives on the blockchain is designed as an object.
It allows Sei to do parallel transactions. What that means: in ordinary blockchains every single transaction needs to be ordered relative to each other, even if the activities are completely independent. In Sei it is not, the transactions can be completed parallel if they are not dependent form each other. For example, mint NFT and sending your coins are independent activities for blockchain so in Sui, these transactions can be completed at the same time. It allows an increase in blockchain capacity.
- Gas mechanism.
In Sui every each epoch (about 24 hours) validators set the gas free. It’s called reference gas price. In order to validators originally don’t set high gas fees the mechanism of reward distribution works like that the validators who said at the beginning of the epoch that they wanted the gas price to be relatively lower than others are going to get boosted rewards. If the validators while the epoch doesn’t follow their set gass fees, at the end of the epoch they will get fewer rewards. This mechanism is a win for validators and for users, cause the validators will get more rewards and users will get low gas prices.
- Storage fund
Storage fund — makes it possible to handle a lot of transactions. How these will be achieved? If you are going to store a lot of data on the chain, so you must pay for it. The storage fond is created from recollecting all the storage fees you pay when you store data. This fund is stimulating validators to store huge amounts of data from users by adjusting the share of stake rewards paid to validators. Besides if the user decides to delete his data he will get rewards for it.
