Sui’s native stablecoin goes live with promise of Treasury yield going back to the network

Plans for a Sui Dollar, which is issued by stablecoin firm Bridge, were introduced toward the end of last year. What to know : Sui stablecoin yield will be returned to the network through buybacks of the sui token, as well as funds deployed to DeFi and automated market making for incentivizing swaps. The Sui blockchain was built by a group of former Meta engineers involved in the abandoned Libra/Diem digital dollar project.