Sui Foundation plans to invest in DATA Network investment 30000000 USD，DATA will migrate to Sui
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AT A GLANCE
According to the announcement,Sui Foundation plans to invest in DATA Network 30000000 USD, which will migrate to Sui。
Article
Sui The Foundation plans to invest in DATA Network(formerly Story)30000000 USD, which will migrate to Sui network
BlockBeats reports that October 22, according to an official announcement,Sui Foundation and DATA Foundation announced on October 12 that Sui Foundation will invest in DATA Network(formerly Story)30000000 USD and become the network's largest institutional holder.
According to the announcement,DATA Network will be upgraded into a protocol natively operating on Sui, and the existing standalone chain will be retired once the upgrade is complete;DATA tokens will migrate at 1: 1, with holders' economic rights and governance rights at least equivalent to current levels, while arrangements for locked and vesting tokens will remain unchanged.
The announcement also states that Walrus will become the default storage layer for applications under DATA Foundation, and the Trace registry system will integrate into the Sui ecosystem.DATA Network will continue operating until the upgrade is complete. A detailed timetable and holder transition plan will be announced before the upgrade.
Original link https://m.theblockbeats.info/flash/373071
Key points
01
BlockBeats states that Sui Foundation and DATA Foundation announced the relevant arrangements on October 12.
02
Sui Foundation will invest in DATA Network(formerly Story)30000000 USD, becoming the network's largest institutional holder.
03
DATA Network will be upgraded into a protocol natively operating on Sui, and the existing standalone chain will be retired once the upgrade is complete.
04
DATA tokens will migrate at 1: 1, with holders' economic rights and governance rights at least equivalent to current levels.
05
Arrangements for locked and vesting tokens will remain unchanged.
06
Walrus will become the default storage layer for applications under DATA Foundation, and the Trace registry system will integrate into the Sui ecosystem.
07
DATA Network will continue operating until the upgrade is complete. A detailed timetable and holder transition plan will be announced before the upgrade.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This announcement describes an investment and a network migration:Sui Foundation plans to invest funds in DATA Network, while DATA Network plans to transition from its existing standalone chain to operating natively on Sui. Tokens will migrate at 1: 1, and the announcement states that existing economic rights, governance rights, and locking and vesting arrangements will not be reduced or changed.
Why it matters to readers
If the upgrade described in the announcement is completed,DATA Network, the Walrus storage layer, and the Trace registry system will have more direct connections with the Sui ecosystem;DATA holders should pay attention to token migration and transition arrangements.
New holders of DATA tokens should wait for the detailed timetable and transition plan, and verify 1: 1 migration, lock-up, and vesting rules; do not act solely on the announcement summary.
Risks and unknowns
The materials do not include the original announcement from Sui Foundation or DATA Foundation, and the relevant claims still need to be verified.
It is not stated whether the investment has closed.
The specific timing for the network upgrade and retirement of the standalone chain has not yet been announced.
The holder transition plan and final implementation details for the token migration have not yet been announced.
It cannot be confirmed from the available materials whether the upgrade can be completed as planned.
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Native protocol
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