SUI Foundation plans to redistribute 117 million SUI tokens

New ICO/IDO
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SUI Foundation plan to redistribute 117 million SUI tokens, with a total value of $51 million, across diverse channels. This strategic move aims to strengthen the ever-growing Sui ecosystem. :globe_with_meridians:

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:mag: What does this mean for SUI community?

  • Developers will receive grants to innovate and design the next generation of decentralized applications on the Sui platform.
  • SUI advanced DeepBook CLOB, automated market mechanisms, liquidity staking, and lending systems will receive robust support.

Fun Fact: :bar_chart: These redistributed SUI tokens make up 13.6% of the circulating supply and 1% of the total supply, all without affecting the current circulating volume.