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Sui Plans To Launch $51.3M Fund To Grow DeFi Ecosystem

The Sui Foundation has announced a $51.3 million ecosystem fund to expand its DeFi ecosystem. The funds will support DeFi developers and DeepBook, its on-chain central limit order book platform seeking to match Nasdaq's high-frequency capabilities. 117 million SUI tokens will be claimed from “external market makers” to provide grants to DeFi developers. DeepBook leverages Sui's speed, processing a record 65.8M daily transactions. Managing Director Greg Siourounis said the funds provide a "new tailwind" for developers and users. Sui is currently ranked 35th by total value locked (TVL) at $38.2 million and has a market capitalization of $376 million.

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