Company: GSUI
Filing Date: 2025-12-05
Form Type: S-1
Source: 0001193125-25-309828
Chunk: 146

Company: Grayscale Sui Trust (SUI)
Filing Date: 2025-12-05
Form: S-1
Chunk 146
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 : approximately 582 million SUI, or 5.8% of the initial supply, was retained by core developers and contributors to compensate for their early efforts in the development of the Sui Network.

Mysten Treasury : approximately 163 million SUI, or 1.6% of the initial supply, was retained by Mysten to compensate for their early efforts in the development of the Sui Network.

Delayed Allocation : approximately 5.22 billion SUI, or 52.2% of the initial supply, was reserved for allocation after the year 2030.

Modifications to the SUI Protocol

Historically the Sui Network’s development has been overseen by the Sui Foundation, Mysten, and other core developers. The Sui Foundation, Mysten, and core developers are able to access and alter the Sui Network source code and, as a result, they are responsible for quasi-official releases of updates and other changes to the Sui Network’s source code.

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For example, in July 2024, the Sui Network released version 52 of the Sui protocol, which implemented the Mysticeti consensus mechanism. The Sui Foundation and Mysten led the development of this implementation.

The release of updates to the Sui Network’s source code does not guarantee that the updates will be automatically adopted. Users and nodes must accept any changes made to the Sui source code by downloading the proposed modification of the Sui Network’s source code. If a modification is accepted only by a percentage of users and validators, a division in the Sui Network may occur such that one network will run the pre-modification source code and the other network will run the modified source code. Such a division is known as a “fork.” See “Risk Factors— Risk Factors Related to Digital Assets— A temporary or permanent “fork” could adversely affect the value of the Shares”. Consequently, as a practical matter, a modification to the source code becomes part of the Sui Network only if accepted by validators collectively having at least 83.4% of SUI staked on the Sui Network.

Core development of the Sui Network’s source code has increasingly focused on modifications of the Sui Network’s protocol to increase speed and scalability and also allow for financial and non-financial next generation uses. The Trust’s activities will not directly relate to such projects, though such projects may utilize SUI as tokens for the facilitation of their non-financial uses, thereby potentially increasing