The post Sui Supports Cetus Proposal to Return Frozen Funds – Coincu appeared on BitcoinEthereumNews.com.

Key Points: Cetus initiates governance proposal for frozen funds recovery. Sui supports proposal without voting rights. Potential liquidity restoration and market confidence boost. Earlier today, Cetus initiated a community governance proposal on the Sui Network, aiming to restore frozen funds through a protocol upgrade. The proposal highlights the issue of asset security and necessitates unanimous consensus. The Sui Foundation’s decision to support this without voting underscores its commitment to decentralized governance. Sui and Cetus: Steps Toward Recovering Frozen Funds Cetus, a major decentralized exchange on the Sui Network, sought a unique protocol upgrade to restore assets without reverting on-chain transactions. Their proposal gained the Sui Foundation’s backing with two conditions: abstaining from voting and a commitment from Cetus to exhaust financial resources for user compensation. The Sui Foundation emphasized their neutrality, aligning with their aim to empower the community’s decision-making. As a Sui Foundation Representative noted, “Sui is a decentralized network, so neither Mysten Labs nor Sui Foundation has the ability to block addresses or transactions, ‘control’ validators, or otherwise dictate the behavior of independent actors on Sui.” The announcement affected the Sui trading landscape, causing varied responses. Confidence ebbed slightly, but the commitment to a decentralized solution was well-received by a faction of the community. Decentralization advocates lauded the decision, viewing it as indicative of a maturing governance model within the blockchain. A notable statement from David Rodriguez at Blockworks Advisory cautioned against setting risky precedents in blockchain governance: “Taking a heavily opinionated stance to censor due to a third-party app exploit is a slippery slope.” Market Dynamics and Long-Term Implication Analysis Did you know? Recovering user assets in DeFi often sparks debate about network immutability, as seen in earlier incidents like Poly Network’s $600M hack. According to data from CoinMarketCap, Sui (SUI) is currently valued at $3.64 with…

---

Filed under: News - @ May 24, 2025 5:28 pm