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Sui Network Invests $30 Million in DATA Amid Chain Retirement Plans
Sui Network has announced a significant investment of $30 million in DATA as it prepares to phase out its existing blockchain infrastructure. The transition will see DATA balances transferred to the Sui Network on a one-for-one basis, ensuring that users retain their assets during the migration process.
As part of this transition, support for validator staking and smart contracts on the chain previously known as Story will be discontinued. This move is part of Sui's broader strategy to streamline its operations and enhance its offerings within the blockchain ecosystem. The retirement of the old chain marks a pivotal shift for Sui as it focuses on integrating DATA into its platform.
Source: KLEA News