Layer-1 blockchain Sui Network (SUI) has decided to make a significant move worth $51 million to increase network growth.
by Sui Foundation 5 October The statement made on the day attracted attention. To support network growth, the team has around $51 million worth 117 million SUI He declared that he would allocate it.
In the statement, it was emphasized that the allocation process will not lead to an increase in supply since all SUI tokens have already been released to the market. Will be spent on network growth and adoption 117 million SUIcirculating supply 13.6% and total supply 1% represents.
Aforementioned 117 million SUIs to support developers on the network, liquidity to market makers to ensure, greater community adoption win and SUI based decentralized finance (DeFi) will be used to support projects.
According to on-chain data, SUI has managed to attract attention since the first day it was launched. Project completed in a single day Hosted 65.8 million transactions among all other blockchains by making to the record signed. But it seems that the team will not be content with this and will continue their work to be better prepared for the next bull run.
Sui Foundation Executive Director Greg Siourounis said: The performance in the first 5 months is remarkable. While stating that he is on the way to his goals they want to do more emphasized:
The milestones Sui and his community achieved in the first five months were remarkable. But these represent only a fraction of what this network is built to achieve. Today’s reallocation action will provide a fresh wind for Sui’s community of developers and ecosystem participants and will be a key resource that will accelerate the growth of Sui’s ecosystem in the coming months and beyond.
According to CoinGecko data, in the last 24 hours 1.6% rising SUI, at the time of writing from $0.444 finds buyers.