The Sui Foundation announced that it will withdraw 117 million SUI from external market makers and reallocate 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. These SUIs will be used to support the growing Sui ecosystem, including providing grants to developers to build the next generation of decentralized applications on Sui, as well as supporting the most advanced DeepBook CLOBs, automated market makers, and liquidity staking on Sui. and loan agreements.
Sui’s DeFi ecosystem will be the main beneficiary of these reallocated funds. Recently, Sui Network TVL reached a new high, reaching approximately US$37 million, an increase of more than 100% over the past two months. 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.
Greg Siourounis, head of the Sui Foundation, said the reallocation now represents a massive injection of resources that will provide new impetus to builders, developers and ecosystem participants on Sui and drive Sui forward in the coming months and beyond. ecosystem growth. Sui is a leap forward in the blockchain field, dedicated to providing creators and developers with a development platform capable of hosting the next billion users in Web3.
Sui’s DeFi ecosystem will be the main beneficiary of these reallocated funds. Recently, Sui Network TVL reached a new high, reaching approximately US$37 million, an increase of more than 100% over the past two months. 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.
Greg Siourounis, head of the Sui Foundation, said the reallocation now represents a massive injection of resources that will provide new impetus to builders, developers and ecosystem participants on Sui and drive Sui forward in the coming months and beyond. ecosystem growth. Sui is a leap forward in the blockchain field, dedicated to providing creators and developers with a development platform capable of hosting the next billion users in Web3.