Validators process transactions and receive fees from users (supply-side fees).

Sui is a smart contract platform for decentralized applications (a blockchain). Sui was founded by Evan Cheng, Sam Blackshear, Adeniyi Abiodun, George Danezis and launched in 2022.

Sui (Mysten Labs) team & investors own and govern the protocol. They currently don’t take a cut of the total transaction fees paid by users (revenue). Sui's investors include a16z, Coinbase Ventures, Electric Capital, etc.

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# Sui Staking market cap Methodology

## 1. Overview

Staking market cap measures the total value of native SUI assets currently staked to secure the Sui network. This metric represents the economic security of the blockchain by quantifying the capital committed by validators and delegators. Staking market cap is calculated by aggregating the total stake across all network participants and converting the value to USD.

## 2. Data sources

- **Blockchain events**: `SystemEpochInfoEvent` and `ValidatorEpochInfoEventV2` events from Sui system contracts, covering Sui
- **External data**: End-of-day price feeds for the native SUI asset

## 3. Step-by-step calculation

### Component A: Total stake extraction

- **Purpose**: Capture the aggregate amount of SUI assets helping to secure the network at the protocol level.
- **Logic**: `SystemEpochInfoEvent` events are parsed from the Sui blockchain. These events are emitted at epoch boundaries and contain the aggregate state of the network. The `total_stake` value is extracted from the event's underlying data structure to identify the total volume of staked assets for each epoch.
- **Key fields**: `total_stake` and `block_timestamp`

### Component B: Validator count tracking

- **Purpose**: Identify the number of active validator entities contributing to the network stake.
- **Logic**: `ValidatorEpochInfoEventV2` events are aggregated per block timestamp. Because one event is emitted for each validator at the epoch boundary, a count of these events is performed to determine the active validator set size.
- **Key fields**: `event_json` and `block_timestamp`

### Component C: Normalization and USD conversion

- **Purpose**: Standardize the raw on-chain stake data into a daily USD-denominated metric.
- **Logic**: The total stake amounts are normalized by decimal precision. The resulting native values are multiplied by end-of-day price feeds for the SUI asset. To ensure data continuity, a fill-forward strategy is applied to the daily values. The final metrics are aggregated at daily granularity using UTC day boundaries.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens currently staked to secure a proof-of-stake network.

SuiSUI

Staking market cap

Staking market cap

Competitive landscape