Sui Foundation Injects $30M Into DATA Network Ahead of Blockchain Migration
The Sui Foundation is pouring $30 million into DATA Network as part of a joint initiative to relocate the artificial intelligence data protocol onto the Sui (SUI) blockchain. Under the agreement, DATA Network will shut down its standalone chain to run natively on Sui, converting existing DATA tokens at a one-to-one ratio. The deal makes the Sui Foundation the primary institutional stakeholder alongside DATA Foundation and PIP Labs.
The move integrates DATA Foundation projects with Walrus, an onchain decentralized storage network designated as their primary repository. DATA Network operates Trace, a registry launched in June that tracks permissions and source rights for AI training materials while executing creator payouts. Having recorded more than 250 million total contributions and running over 3 million daily transactions, Trace offers AI research groups authorized datasets required to comply with tightening regulatory standards.
Market participants should monitor the forthcoming release of an official migration schedule from the DATA Foundation. Until the transition concludes, the current DATA Network will continue operating normally without interruption.
Key points
- Sui Foundation is placing $30 million into DATA Network, taking a leading institutional ownership stake.
- DATA Network will dismantle its proprietary chain and transfer its protocol and token supply to Sui (SUI) at a 1:1 ratio.
- Decentralized platform Walrus will become the standard storage foundation for DATA Foundation applications.
- Trace, DATA Network's provenance tracker, handles over 3 million daily receipts across 250 million cumulative entries.
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How we writeDisclaimerQuestions and answers
How much is Sui Foundation backing DATA Network with?
Sui Foundation is committing $30 million to DATA Network to support the protocol's transition to the Sui blockchain and gain a primary institutional stake.
What happens to DATA tokens in the Sui migration?
Current DATA tokens will convert to the Sui network on a one-to-one basis as the project shuts down its original independent blockchain.
How does Walrus fit into the DATA Network integration?
Walrus will serve as the default onchain storage platform for all applications managed by the DATA Foundation.