The Sui Foundation disclosed today that it will redirect 117 million SUI tokens from external market makers into various channels aimed at fostering the Sui Network’s growth. This Layer 1 blockchain network launched its mainnet in May and has since been recognized for its scalability and high throughput. The reallocated tokens are separate from the 25 million SUI set aside for the winners of its recent liquid staking hackathon, announced on October 3rd.
Focus on DeFi and Technical Milestones
The redirected resources will primarily support Sui’s growing decentralized finance (DeFi) ecosystem. According to DefiLlama, a leading DeFi TVL aggregator, Sui’s network recently achieved its highest-ever TVL at approximately $37 million, marking a 100% increase over the last two months. This initiative aims to capitalize on the network’s early success.
Sui has also achieved significant technical milestones since its mainnet launch. Within two…
