@SuiNetwork has bought back 915,800 $SUI year-to-date, putting the program within reach of the 1 million token mark. The purchases are funded by protocol-earned stablecoin yield and execution
@SuiNetwork has bought back 915,800 $SUI year-to-date, putting the program within reach of the 1 million token mark. The purchases are funded by protocol-earned stablecoin yield and execution-fee earnings, and are carried out continuously on the open market.
Onchain data shows total protocol earnings of $3.2 million so far in 2026. The earnings are driven by transaction execution density and treasury float income on the Move-based Layer-1 network.
The program converts yield from dollar-based assets held in network reserves into daily spot purchases of $SUI. The Sui Foundation converts stablecoin yield to SUI through daily open-market buybacks, according to the network's own buyback dashboard. Sui earns revenue from gas fees and stablecoin yield.
The yield largely comes from USDsui, the network's native stablecoin. The Sui Dollar (USDsui) went live with a promise that income from the assets backing the token can be funneled back into the ecosystem, CoinDesk reported at launch. The stablecoin is issued by Bridge.
The model links stablecoin growth to token demand. Stablecoin revenue scales with stablecoin float, and that revenue funds SUI buybacks. The network's dashboard currently lists $449.3 million in total stablecoin supply in circulation.
Unlike a buyback-and-burn scheme, the program does not shrink supply. Purchases create market demand without reducing the token's total supply.The acquired SUI is reinvested across the ecosystem, including in decentralized finance protocols, validators and other partners.
The scale is also modest relative to the market. In an August analysis, AMBCrypto noted that 317,500 SUI represented only around 0.008% of the network's roughly 4.07 billion circulating supply. It concluded the program currently serves more as a long-term capital allocation strategy than a short-term price support mechanism.
The total has grown steadily since then. The Sui Foundation's buyback program had crossed 609,800 tokens by early September, so the latest figure of 915,800 $SUI marks continued accumulation. The pace depends on how much yield the reserves generate, which can vary with stablecoin float and usage.
Sui's reference gas price was also changed this year. The network's reference gas price was cut roughly 5x in April 2026, and transfers of supported stablecoins were made free, which shifts more of the revenue mix toward stablecoin yield.
Sui Network Revenue & SUI Buybacks (Sui)Sui's native USDsui stablecoin goes live (CoinDesk)Sui Buybacks Return Purchased Tokens Without Cutting Total Supply (TokenPost)
