Raised $140 million, built its own L1, then finally decided: shut it down. 🔥

That’s the choice DATA (formerly Story Protocol) made this month.

🧵 Key details (Sui’s official blog, DATA Foundation FAQ, CoinDesk, The Block):
• The Sui Foundation invested $30 million, becoming the largest institutional holder of DATA Network
• The independent chain will be retired. DATA will run as a native protocol on Sui, with Walrus as the default storage layer
• DATA tokens will migrate 1:1, with vesting and lockup schedules unchanged; the old chain will keep running until the upgrade is complete
• The migration timeline and plan for holders haven’t been announced yet. The official FAQ says no action is needed for now
• The business is focusing on Trace: tracking the sources and licensing of AI training data, with over 250 million contributions to date

💡 My take: The CEO himself said, “We’re trying to boil the ocean.” When a product is down to one core application, it’s hard to justify the costs of maintaining validators, audits, and infrastructure. As the “appchain boom” fades, more projects may choose to return to established public blockchains and focus on building products.

Do you think it’s still worth building a project’s own L1? Who will be the next to “return to a public blockchain”? 👇

$SUI #Sui #AI数据 #PublicBlockchain