PANews, October 12: According to The Block, the Sui Foundation has invested $30 million in the AI data protocol DATA Network (formerly Story Protocol). The protocol will migrate to the Sui blockchain and become a native protocol, with its independent chain being decommissioned. Existing DATA tokens will be migrated to the Sui network at a 1:1 ratio. Until the migration is complete, the existing DATA Network will continue to operate.
Sui Foundation Invests $30 Million in DATA Network, Protocol to Migrate to Sui Blockchain
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Summary
The Sui Foundation has invested $30 million in DATA Network, an AI data protocol formerly known as Story Protocol. The protocol update will see the project migrate to the Sui blockchain, becoming a native protocol. Its standalone chain will be decommissioned, with existing DATA tokens migrating to Sui at a 1:1 ratio. The current network will remain active until the migration is complete. Inflation data will be closely monitored during the transition phase.
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