Odaily Planet Daily News The Sui Foundation announced today that it will recover 117 million SUI worth approximately US$51 million from external market makers and redistribute them to various channels that support the growth of the Sui network.
“Reallocated resources will be designed to support Sui’s thriving ecosystem, including providing grants to developers building next-generation dApps on Sui, supporting Sui’s state-of-the-art DeepBook CLOBs, automated market makers and liquid staking as well as on-network loan agreement," the foundation said in a statement.
Sui launched its mainnet in May this year. The reallocated SUI tokens account for 13.6% of its circulating supply and 1% of the total supply. Since these SUIs have been released before, their reallocation will not affect the circulating supply of SUI. (businesswire)