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Sui puts $30 million into DATA as its own chain winds down

Sui Foundation is investing $30 million as DATA moves its AI data protocol onto Sui, retires its chain and carries the DATA token over one-to-one.

Uruguay Can Editorial

Sui puts $30 million into DATA as its own chain winds down

DATA Network will retire its independent blockchain and move its AI data protocol to Sui, with Sui Foundation investing $30 million in the transition. The Sui Foundation announcement on Oct. 12 says the existing chain will keep operating until the upgrade is complete.

The change puts DATA’s protocol on Sui and makes Sui Foundation the network’s largest institutional holder, alongside PIP Labs and DATA Foundation. For you as a token holder, the announced transition carries $DATA over to Sui one-to-one; the foundations say holder economics and governance rights will be at least equivalent, with locked and vesting positions carried over unchanged.

What happens to DATA’s token and chain?

The chain’s retirement depends on the protocol upgrade, which has no published completion date yet. The foundations say they will publish a detailed timeline and holder transition plan before the upgrade. Until then, the DATA Network remains operational, according to The Block’s report on the partnership.

The announced transition has three parts:

1. DATA Network upgrades to run as a protocol natively on Sui.

2. The $DATA token moves to Sui at a one-to-one rate, with the stated protections for holder rights and locked positions.

3. DATA Network retires its independent chain once the upgrade is complete.

Where do Trace and Walrus fit?

Trace, DATA’s registry for AI training data, will join the Sui ecosystem, while Walrus becomes the default storage layer for DATA Foundation applications. Trace records data origins and usage rights and handles payments to contributors, according to the foundations.

The announcement says Trace has recorded more than 250 million contributions since launching in June and processes more than 3 million receipts a day on average. The move therefore brings an operating data registry and its storage layer into the Sui stack; the timeline will determine when the separate chain actually closes.

Sources