Sui Foundation Invests $30 Million to Become the Largest Institutional Holder of DATA Network

Sui Foundation will invest $30 million in DATA Network, becoming its largest institutional holder. DATA Network will upgrade to a protocol natively running on Sui, and the existing independent chain will be retired after the upgrade is completed. The DATA token will be migrated on a 1:1 basis, and the economic rights and governance of holders will at least maintain the current level, with arrangements for locked and vested tokens remaining unchanged. Walrus will become the default storage layer for applications under the DATA Foundation, and the Trace registration system will integrate into the Sui ecosystem. Before the upgrade is completed, DATA Network will continue to operate, and a detailed timeline and transition plan for holders will be announced prior to the upgrade.

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