DeFi: Sui Aims for $500 Million in Bitcoin and an Entire AI Blockchain

Bitcoin on one side, AI on the other. In just a few days, Sui announced Hashi, a system for borrowing with Bitcoin without leaving the Bitcoin network, and a $30 million check for DATA Network, a training data protocol that is retiring its own blockchain.

Sui, which already has Bitcoin in its TVL, is thus looking for assets and projects to host.
Key points of this article:

• Sui announced a system called Hashi that allows borrowing with Bitcoin without leaving the Bitcoin network, with $500 million in commitments.
• Sui also invested $30 million in DATA Network, a training data protocol for AI that is abandoning its independent blockchain.

Hashi: $500 Million in Commitments for Dormant Bitcoin

The principle is simple to state. You lock your BTC in a vault address on the Bitcoin blockchain, protected by a 2-of-2 multisig (two signatures are required) held by Hashi validators. In exchange, the protocol issues a token on Sui, the hBTC, which applications on the network accept as collateral. To exit, you burn the hBTC, and the vault releases your Bitcoins, according to CoinDesk.

No bridge between blockchains, therefore. The hBTC remains a receipt issued on Sui, backed by a deposit. A layer of "guardians" independently monitors suspicious movements and can slow them down. The contracts have been formally verified by Certora and the cryptography by CommonPrefix.

The $500 million comes from over 20 partners, of which only Anchorage Digital is named. These are commitments, not deposits, and the mainnet will open in several phases by the end of the month. Sui estimates the inactive Bitcoin at about $1 trillion. Sui aims to attract dormant Bitcoin and AI-related projects to its blockchain.

DATA Network: The Former Story Leaves Its Chain for Sui

The Sui Foundation becomes the main institutional holder of DATA Network, alongside PIP Labs and DATA Foundation, with an investment of $30 million, according to The Block. The protocol, which was called Story before its pivot in June to AI training data, according to Cointelegraph, is retiring its independent blockchain.

Its product, Trace, records the origin and usage rights of the data used to train models and compensates those who provide it. The registry claims over 250 million contributions and more than 3 million receipts per day. These figures are from the project.

Walrus, the decentralized storage of the Sui ecosystem, will become the default layer for DATA Foundation applications. The DATA token will migrate at a rate of one for one, according to The Block. No date is given: the detailed schedule remains to be published.

Just in from the main stage at Sui Basecamp:

👉 Hashi mainnet starts rolling out this month, with $500M+ in capital already committed.

👉 @Anchorage joins as a launch partner, bringing qualified custody and stablecoin liquidity.

Learn more ⤵️https://t.co/TJV8LEHEOf
--- Sui (@SuiNetwork) October 8, 2026

Sui, Hashi, DATA: Milestones Set, Nothing Delivered

In both cases, Sui is attracting activity: dormant Bitcoin at its place, an entire project moving to it. The Block gives no reason for DATA's chain abandonment. Adeniyi Abiodun, co-founder of Mysten Labs, which is behind Sui, speaks of the next frontier: access to data whose consent and provenance satisfy regulators.

For Hashi, security relies on the multisig validators and guardians whose role remains to be tested. The hBTC has value only if Sui applications accept it. Lenders, other than Anchorage, are not known.

No migration date for DATA, a promised Hashi mainnet in phases by the end of October, and commitments that have not yet been deposited: Sui has set its milestones without delivering them. On the side of AI-related cryptos, the issue of training data is not a detail, as AI labs seek datasets with clear rights.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.