The Sui Foundation's buyback program has passed a new milestone, with the total amount of $SUI purchased using stablecoin yield now above 1.1 million tokens. The program, run on the Sui Network (@SuiNetwork), buys the token on the open market each day.
The figure marks a steady climb for the program. In late August, year-to-date buybacks stood at about 516,800 $SUI, and the total passed 609,800 in early September, based on figures circulated by market commentators. The latest total is roughly double the level of those early September readings.
How the Sui Buyback Program Works
According to the Sui project's official buybacks dashboard, the network earns revenue from gas fees and from yield on stablecoins held on the chain.
Know when your
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The dashboard describes a feedback loop in which
The tokens are not burned. The dashboard states that
That distinction matters for investors, since a buyback that is redistributed does not reduce supply in the way a burn would.
The model is closely tied to $USDsui, the network's native stablecoin.
, according to CoinDesk. Webopedia reported that
Stablecoin Growth Is the Key Variable
Because buyback funding scales with stablecoin float, the size of the program depends on how much stablecoin value stays on the network. Data from Stablecoin Beat shows
Crypto Economy reported that
Analysts have urged caution on how much weight to place on the buybacks. Bitcoinist noted that
The publication added that the market will want to see float growth, yield generation, buyback execution and distribution outcomes.
Activity on the network has also been shifting toward payments. Crypto Economy reported that Sui has
For $SUI holders, the main thing to watch is whether stablecoin balances on the network grow enough to lift the yield that funds the program.
Sources
Sui Network Revenue and $SUI Buybacks dashboard
CoinDesk: Sui's native stablecoin goes live
Webopedia: Sui's $USDsui stablecoin hits record $80M
Crypto Economy: Sui stablecoin supply nears $500M
