The Sui Foundation recently announced that it will withdraw 117 million SUI from external market makers and redistribute them to various channels that support the growth of the Sui network. The Sui Network is a groundbreaking L1 blockchain acclaimed for scalability and industry-leading throughput. The redistribution of these SUI will not affect the circulating supply of SUI, but will be used to support the growing Sui ecosystem, including providing funds to developers to build the next generation of decentralized applications on Sui, and supporting the most advanced Sui DeepBook CLOB, automated market maker, liquidity staking and lending protocol.
Sui’s DeFi ecosystem will be the main beneficiary of these reallocated funds. According to the DefiLlama report, Sui Network TVL recently hit a new high, reaching approximately $37 million, an increase of more than 100% over the past two months. This new initiative is set to accelerate momentum early on.
Sui achieved a series of achievements soon after the launch of the mainnet. For example, within two months, the Sui network set a record of executing 65.8 million transactions in a day, surpassing the performance of all other blockchains in history. At the same time, the scalability of Sui was also demonstrated. In just over four months, the Sui network has added over 6 million active wallets. Recently, Sui also announced the launch of zkLogin, a feature native to the Sui network that allows users to access decentralized applications in a more private and secure manner in the same way as Web 2 social accounts from the likes of Google, Facebook, and Twitch.
Greg Siourounis, head of the Sui Foundation, said the reallocation represents a massive injection of resources that will provide new impetus to builders, developers and ecological participants on Sui and drive Sui’s growth in the coming months and beyond. Ecosystem growth.
What do you think of the future of Sui Network? Welcome to share your opinions in the comment area! 😄
Sui’s DeFi ecosystem will be the main beneficiary of these reallocated funds. According to the DefiLlama report, Sui Network TVL recently hit a new high, reaching approximately $37 million, an increase of more than 100% over the past two months. This new initiative is set to accelerate momentum early on.
Sui achieved a series of achievements soon after the launch of the mainnet. For example, within two months, the Sui network set a record of executing 65.8 million transactions in a day, surpassing the performance of all other blockchains in history. At the same time, the scalability of Sui was also demonstrated. In just over four months, the Sui network has added over 6 million active wallets. Recently, Sui also announced the launch of zkLogin, a feature native to the Sui network that allows users to access decentralized applications in a more private and secure manner in the same way as Web 2 social accounts from the likes of Google, Facebook, and Twitch.
Greg Siourounis, head of the Sui Foundation, said the reallocation represents a massive injection of resources that will provide new impetus to builders, developers and ecological participants on Sui and drive Sui’s growth in the coming months and beyond. Ecosystem growth.
What do you think of the future of Sui Network? Welcome to share your opinions in the comment area! 😄