A crucial step in the Sui protocol upgrade has been approved by over 90% of validators, clearing the way for a fund recovery plan that will allow frozen assets to be transferred to a trusted multi-sig wallet. The plan is designed to protect liquidity during the upgrade process, which is expected to be completed within one week.
Key Enhancements
The Sui protocol has been working on a major upgrade since March, with key enhancements including:
- Improvements to the Constant Liquidity Market Maker (CLMM) contract
- Careful asset conversion
Affected pools were paused while unaffected pools remained operational to ensure that liquidity was maintained throughout the transition.
Successful Conversion
According to officials at Sui Foundation and Meta Labs, all pools have now been successfully converted into their new form. This means that users can once again access their funds without any issues.
Fund Recovery Plan
The fund recovery plan is an important part of this process as it will allow frozen assets from before this update period (the "old" CLMM) to be transferred out of old contracts into new ones. This will enable users to use their funds freely again, helping to restore full functionality for all users impacted by these changes.
Market Activity
In related news, recent weeks have seen significant growth across multiple exchanges supporting SUI tokens following announcements regarding upcoming listing events. While nothing official has been confirmed yet, there is considerable interest among traders looking forward to future developments.
Stay tuned for updates as the situation evolves!
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