DATA Network (formerly Story Protocol) has announced something that’s uncommon in this industry:
It’s voluntarily giving up its own chain.
The Sui Foundation invested $30 million, becoming DATA Network’s largest institutional holder—with a stake larger than those of original developer PIP Labs and the DATA Foundation itself. In exchange, DATA Network’s independent Layer 1 chain will shut down, and the entire protocol will migrate to run natively on Sui.
The DATA token will migrate to Sui at a 1:1 ratio, with vesting and lockup schedules unchanged, and governance rights unchanged.
Some background:
DATA Network started out as Story Protocol, focused on “establishing IP ownership on-chain.” On June 25, it changed its name to DATA and shifted its focus to AI training data—specifically, using the Trace registry to track data provenance and ownership rights, so AI companies can access real-world data with “clear provenance and proper authorization.”
Since Trace launched in June, it has recorded over 250 million contributions and processes more than 3 million attestations a day. Those are significant numbers.
So, what’s the logic behind giving up its own chain?
Maintaining an independent chain—its validator network, security budget, and infrastructure operations—would be a constant drain on attention and resources for a team focused on an application-layer protocol. Sui already has a mature security foundation, the Move language, and the Walrus storage layer. By migrating to Sui, DATA can use them directly and avoid that overhead.
Walrus will become the default storage layer for DATA Foundation applications—a core requirement for AI training data: large-scale, low-cost, verifiable on-chain storage.
PIP Labs co-founder SY Lee is also joining the Sui Foundation as a strategic advisor.
SUI has risen 54% over the past four weeks, climbing from around $0.72 to about $1.11. This $30 million investment is another narrative catalyst. DATA is trading around $0.21 today, and its 24-hour trading volume surged to $14.7 million after the announcement.
The intersection of AI and blockchain has always been hard to pin down. Data ownership and provenance tracking are among the most practical entry points we’ve seen so far.
Are you holding $SUI , or waiting to see what happens after the migration?
$SUI
$DATA
#sui基金会向datanetwork投资3000万美元
It’s voluntarily giving up its own chain.
The Sui Foundation invested $30 million, becoming DATA Network’s largest institutional holder—with a stake larger than those of original developer PIP Labs and the DATA Foundation itself. In exchange, DATA Network’s independent Layer 1 chain will shut down, and the entire protocol will migrate to run natively on Sui.
The DATA token will migrate to Sui at a 1:1 ratio, with vesting and lockup schedules unchanged, and governance rights unchanged.
Some background:
DATA Network started out as Story Protocol, focused on “establishing IP ownership on-chain.” On June 25, it changed its name to DATA and shifted its focus to AI training data—specifically, using the Trace registry to track data provenance and ownership rights, so AI companies can access real-world data with “clear provenance and proper authorization.”
Since Trace launched in June, it has recorded over 250 million contributions and processes more than 3 million attestations a day. Those are significant numbers.
So, what’s the logic behind giving up its own chain?
Maintaining an independent chain—its validator network, security budget, and infrastructure operations—would be a constant drain on attention and resources for a team focused on an application-layer protocol. Sui already has a mature security foundation, the Move language, and the Walrus storage layer. By migrating to Sui, DATA can use them directly and avoid that overhead.
Walrus will become the default storage layer for DATA Foundation applications—a core requirement for AI training data: large-scale, low-cost, verifiable on-chain storage.
PIP Labs co-founder SY Lee is also joining the Sui Foundation as a strategic advisor.
SUI has risen 54% over the past four weeks, climbing from around $0.72 to about $1.11. This $30 million investment is another narrative catalyst. DATA is trading around $0.21 today, and its 24-hour trading volume surged to $14.7 million after the announcement.
The intersection of AI and blockchain has always been hard to pin down. Data ownership and provenance tracking are among the most practical entry points we’ve seen so far.
Are you holding $SUI , or waiting to see what happens after the migration?
$SUI
$DATA
#sui基金会向datanetwork投资3000万美元