Sui Foundation Invests $30M as DATA Network Joins Sui
DATA Network and its Trace AI data registry will integrate into Sui infrastructure, with Walrus as the default storage layer.
Sui Foundation and DATA Foundation announced that DATA Network and the Trace on-chain AI training data registry are integrating into Sui-based infrastructure. Walrus will become the default storage layer for applications operated by DATA Foundation.
As part of the move, DATA Network will be upgraded into a protocol running natively on Sui. The existing standalone chain will shut down after the upgrade completes. $DATA will remain the token of the Sui-based data protocol, with a planned 1:1 migration for existing tokens.
Sui Foundation invested $30 million into DATA Network and became the network's largest holder, according to datanet.co.kr. Lee Seung-yoon, chairman of Poseidon and CEO of PIP Labs, is joining Sui Foundation as a strategic advisor.
Ongoing operations and next steps
DATA Network will continue operating until the upgrade is complete. Details of the upgrade schedule and token holder conversion plans will be disclosed before the upgrade.
In June, DATA Foundation launched Trace as an on-chain registry for AI training data. Since launch, more than 250 million data provider registrations have been recorded on Trace, which currently processes over 3 million receipts per day on average. Kled has registered over 1.5 billion data entries as the largest marketplace for human-generated data traded with user consent, while Numo and Oto already license data to AI research labs and robotics companies.
Quick answers
What happens to the existing DATA Network chain?
The existing standalone chain will shut down after the upgrade to a protocol running natively on Sui is complete. DATA Network will continue operating until then.
What will happen to $DATA tokens?
$DATA will remain the token of the Sui-based data protocol, and a 1:1 migration with existing tokens is planned. Conversion details will be disclosed before the upgrade.
How much did Sui Foundation invest in DATA Network?
Sui Foundation invested $30 million into DATA Network, becoming the network's largest holder.