Sui highlights from EC mid-year dev stats refresh:
- Sui is the 2nd fastest growing L1 dev community over the last year at 16.1% -- just a hair behind Solana at 17.7%.
- Sui is the fastest growing L1 dev community over the last two years at 54%
- This goes against broader growth trends--total crypto devs is down ~20% in the last year and all major EVM L1s had negative dev growth in the past year
- Sui remains the largest, fastest-growing, and most vibrant Move developer community
📢 New Progress Update – A Path Forward Together!
Since the incident, we have reflected deeply on the incident and its impact on our users, partners, and the broader ecosystem. We are deeply sorry and take this responsibility seriously. Today, we want to share a meaningful step forward, made possible by the collective effort of many.
We have great news. Using our cash and token treasuries, we are now in a position to fully cover the stolen assets currently off-chain if the locked funds are recovered through the upcoming community vote. This includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible.
Because full recovery is dependent upon the results of the community vote, we humbly ask for the Sui community’s full support to recover the funds via the upcoming vote. We recognize that this is an extraordinary ask forced by our actions, however we think it is the right decision especially for those affected.
Regardless of the outcome of the vote, recovery will begin immediately after. A detailed plan will follow. We deeply regret the impact caused by the recent incident and sincerely apologize to our users and the broader ecosystem for the exposure. Your trust is our top priority, and we are fully committed to making things right. We ask that everyone comes together to pass the vote, make everyone whole, and rebuild a stronger, more resilient Sui DeFi ecosystem. 🌊
On Wednesday, the Sui validator community acted quickly to freeze $162M of the stolen funds. Here’s how that happened:
- Each validator has a configuration file that allows it to ignore transactions from a specific address.
- Adding addresses to this file is at the discretion of each individual validator, and can be reversed at any time.
- More than ⅓ of validators by stake chose to ignore transactions from the two addresses they believed to be connected to the attack, effectively freezing the funds.
- The ability of an individual validator to ignore transactions from a specific address is not unique to Sui–any validator in any network can choose to do this, such as to operate within their individual risk tolerance or to comply with law.
- Sui validators acted quickly enough to freeze some (but not all) of the stolen funds, worth approximately $162M at the time of the freeze, before the attacker attempted to bridge them out.
- Freezing is intended as a temporary, emergency measure to slow down an attack and give the victim leverage to negotiate with the attacker. It served precisely this purpose in the Cetus attack. Unfortunately the attacker has not responded to outreach from the Cetus team.
Earlier today, Cetus called for a community vote on a protocol upgrade to return the frozen funds, without rolling back chain history or reversing transactions. This is an extraordinary request in response to extraordinary need–Cetus’s customer funds are at stake. After consideration, we support their call for an on-chain vote on two conditions:
1) We will abstain from the vote and remain neutral on the outcome – our role is to design and facilitate a process that will reflect the will of the Sui community at large. We will share design details and code soon.
2) Cetus must publicly commit to marshalling all of its financial resources to recover all funds and return them to customers until everyone has been made whole.
🚀 Sui's new innovation, zkAt (spelled zee-cat), can be Bigger than all zkLogin, Plasma and Lightning Network together. Why?
https://t.co/ld35RuZ7hY
Introducing zkAt (Zero-Knowledge Authenticator), a first-of-its-kind blockchain primitive that:
🧠 Hides the authentication policy itself, even from validators.
🧶 Supports arbitrarily complex rules: time-based, amount-based, multi-algo thresholds, zk inside zk, game-solving vs public keys, what??
♻️ Enables oblivious updates with zkAt+ (change zk policies without changing user's address, what???)
✅ Compatible with account abstraction, in Sui we'll aim for a native authenticator, ideal for custodians and users obsessed with their privacy
🥷 High-probability this will be the major competitor to MPC threshold wallets, this time with pure ZK
🧢 It’s like account abstraction + threshold signatures + zk in one, but truly private.
🚀 Enables private programmable pipelines, aka zk tunnels, opening the door to encrypted DeFi, anonymous voting, stealth wallets, DAO treasuries, and more.
Note1 (for cryptographers): Groth16 is not dead, we found a new property, and use case that makes it a better scheme than its competitors.
Note2 (for DeFi): Starting from today, personally representing the science-nerds of Sui, Walrus and Mysten Labs, I'm switching mood. Kept this hidden for 3 days with zero sleeping time, constant doctor's help to monitor my help, but the other important topic smoothly finds its way. Huge efforts on the background, day and night, to protect users and traders with the tremendous help of @EmanAbio and @web3crusadr.
Good morning
Happy blobday to those that celebrate. We bring exciting news!
1️⃣ Walrus Mainnet will be live on March 27
2️⃣ Walrus Tokenomics unveiled 📊
3️⃣ $140M secured in funding to make data truly programmable
🧵👇
Today we celebrate a milestone in our journey towards decentralization transformation.
The @WalrusProtocol Foundation has secured $140 million in fundraising, making it one of the biggest raises of the year. Huge thanks to @standardcrypto, @a16zcrypto, @ElectricCapital, and all our supporters.
There is a lot more to come. The journey continues.
New blog post and tech report out about Sui Lutris, the byzantine fault tolerant replication protocol that underlies the @SuiNetwork . With details about the fast consensus-less path, the consensus-full shared object path, checkpointing and reconfiguration + proofs!
Post: https://t.co/Os3xvAfPqJ
Paper: https://t.co/4hUZ0QqTIR
And, coupled with an appropriate tx data model like Sui's:
- object-based fee markets
- object-based "tx permissions" for safer wallets
- state bloat prevention without rent
- parallel commitment of some txes via Byzantine consistent broadcast
Today, we announce Sui to the world -- the 1st permissionless Layer 1 blockchain designed to enable creators & devs to build experiences that cater to the next billion users in web3! Read about it here: https://t.co/abgUnxdzfg