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<p class="is-style-lead">The Sui Foundation reallocates 117 million SUI Tokens from external market makers to accelerate ecosystem development and support growth initiatives, including decentralized applications and liquid staking protocols.</p>
<p><a href="https://www.businesswire.com/news/home/20231005665561/en/Sui-Reclaims-117-Million-SUI-for-Ecosystem-and-Community-Development" target="_blank" rel="noopener noreferrer nofollow">Sui Foundation</a> has undertaken a major repositioning of its resources by retracting 117 million SUI Tokens from external market makers. The tokens will be redirected towards supporting <a href="https://twitter.com/SuiNetwork/status/1709919877992153353" target="_blank" rel="noopener noreferrer nofollow">Sui Network’s</a> development and various other growth initiatives, without affecting the existing circulating supply.</p>
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   <p lang="en" dir="ltr">📣Breaking news! We're reallocating 117M SUI from external market makers and redirecting them to initiatives designed to fuel ecosystem and community growth!<br><br>Dive into the press release for all the details.👇 <a href="https://twitter.com/hashtag/BuildOnSui?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BuildOnSui</a><a href="https://t.co/G0kZOAvbaj" target="_blank" rel="noopener noreferrer nofollow">https://t.co/G0kZOAvbaj</a></p>— Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1709919877992153353?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 5, 2023</a>
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<h2 class="wp-block-heading" id="sui-has-shown-a-remarkable-growth-trajectory">SUI has shown a remarkable growth trajectory</h2>
<p>This reallocation comes on the heels of the Sui Liquidity Staking Hackathon, where the foundation staked 25 million SUI Tokens for the victors. It serves as a significant financial injection intended to stimulate activity among developers, builders, and other ecosystem stakeholders.&nbsp;</p>
<p>These newly relocated resources are slated to support the next generation of decentralized applications (dApps) on Sui, as well as the network’s state-of-the-art DeepBook central limit order book (CLOB), and its liquid staking and lending protocols.</p>
<p>You might also like: <a href="https://crypto.news/sui-network-adds-google-twitch-and-facebook-logins-for-dapps/" rel="noopener noreferrer nofollow"> Sui Network adds Google, Twitch, and Facebook logins for dapps </a></p>
<p><a href="https://crypto.news/sui-network-adds-google-twitch-and-facebook-logins-for-dapps/" rel="noopener noreferrer nofollow">Sui Network</a>, a Layer 1 blockchain, has already shown considerable promise since its mainnet launch in May. The platform has clocked an industry record of 65.8 million transactions in a single day and has attracted more than 6 million active wallets within a span of just over four months.</p>
<p>DefiLlama reported that Sui’s DeFi ecosystem attained its highest-ever TVL at approximately $37 million—showing more than a 100% increase over the last two months.&nbsp;</p>
<p>Greg Siourounis, Managing Director of the Sui Foundation, expressed that the resource influx is a pivotal move to “provide a new tailwind for Sui’s community of builders, developers, and ecosystem participants.” He emphasized that the milestones reached in the first five months post-launch only scratch the surface of Sui’s potential.</p>
<p>Read more: <a href="https://crypto.news/friend-tech-announces-new-features-following-sim-swapping-attack/" rel="noopener noreferrer nofollow"> Friend.tech announces new features following SIM-swapping attack </a></p>

Sui Foundation repurposes 117 million tokens for community development

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