Sui Foundation Launches $50M Ecosystem Fund to Support DeFi and DeepBlock Development

The Sui Foundation announced an ecosystem fund worth over $50M to support DeFi and its DeepBlock platform.

The foundation will claim 117M SUI tokens worth $51.3M from market makers for the ecosystem fund.

The fund will support developers building DeFi apps and DeepBlock, Sui's on-chain order book platform.

DeepBlock seeks to enable high-frequency trading like centralized exchanges using Sui's fast transaction speed.

Besides DeepBlock, the fund will also support other DeFi apps like DEXs, liquid staking, and lending on Sui.