Key Takeaways
- Sui Foundation unveils multi-year security expansion backed by earlier $10 million commitment.
- The initiative focuses on four key areas: shielding end-users, ecosystem-wide visibility, advanced protocol security, and secure development standards.
The Sui Foundation today expanded its $10 million security commitment with a multi-year initiative to protect builders, applications, and users across its blockchain ecosystem. The initiative targets four core areas: shielding end-users, ecosystem-wide visibility, advanced protocol security, and secure development standards.
The initiative will provide developers with security tools including transaction simulation and exploit monitoring systems. Applications on the network will benefit from malicious dApp detection services and impersonation takedowns.
The security expansion comes as Sui’s ecosystem experiences rapid growth. The network’s deflationary token model has removed around 2 million SUI from circulation, while storage funds hold 1.95 million SUI tokens.
The foundation reported that around 700,000 SUI tokens have been permanently removed from supply, with an additional 1.2 million locked long-term in the storage fund.
The foundation aims to establish higher web3 security standards through real-time risk signals and comprehensive threat monitoring systems.
Source: https://cryptobriefing.com/sui-network-security-expansion-ecosystem/
