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SUI is the native token of Sui (named after the water element in Japanese philosophy), which is a smart contract platform maintained by a permissionless set of validators which operate in a similar way to miners in other blockchain systems. Sui offers scalability and extremely low-latency for simple use cases by processing transactions in parallel. This uses processing resources in a more efficient way and provides the option of increasing throughput by adding even more resources. The SUI token is used to pay for gas, staking on the platform and voting rights.