Sui by Mysten Labs: status and timeline

Milestones

Next · Alpenglow upgrade rollout (phases throughout 2025-2026)

Mysten Labs founded by Meta engineers2021Complete.
Series A funding from Andreessen HorowitzDec 2021Complete.
Sui mainnet launchMay 2023Complete.
Series B funding from FTX VenturesSep 2022Complete.
Alpenglow upgrade rollout (phases throughout 2025-2026)Target 2025Current milestone.
Private transaction supportTarget 2026Not yet reached.

Most important updates

Sui ecosystem reaches 2.6B+ TVL and 160M+ daily transactions as gaming and consumer apps drive growth2026
Sui Alpenglow upgrade rollout begins, cutting finality times and improving network performance2025
Sui mainnet launches as a fully operational Layer-1 blockchainMay 2023
Mysten Labs raises $300 million Series B from FTX Ventures, valuing the company at $2 billionSep 2022

Upcoming

2025Alpenglow upgrade rollout (phases throughout 2025-2026) (next)
2026Private transaction support
2026Continued ecosystem expansion in gaming and consumer apps

Current obstacles

Developer educationMove language is different from Solidity; developers must learn new paradigms to build on Sui.
Network decentralizationBalancing high performance with sufficient validator decentralization is an ongoing challenge.

Physics limits

Byzantine fault tolerance limitsConsensus protocols can tolerate at most 1/3 of validators being faulty; beyond that, consensus breaks down.
Bandwidth constraintsEven with parallel execution, total network bandwidth limits the maximum transaction throughput.

How it works

3 parts

Object model

Object-based execution

Sui uses an object model instead of accounts, enabling transactions to be processed in parallel when they don't touch the same objects.

Move language

Move smart contract language

Move is designed around asset-oriented programming, making it harder to write insecure contracts than Solidity.

Consensus

Narwhal-Bullshark consensus

Combines delegated proof-of-stake with a consensus protocol designed for high throughput and low latency.

Spec sheet

Spec	Sui
Total Value Locked (2026)	$2.6+ billion^R (reported)
Daily transactions (2026)	160+ million^R (reported)
Peak daily transactions (2026)	148+ million non-vote transactions^R (reported)
Daily active users (2026)	2.5+ million^R (reported)
Cumulative transactions (as of Nov 2024)	8 billion^R (reported)
Consensus finality	Sub-second^R (reported)

^R reported by the company

Update log

4 updates

About Mysten Labs

The team behind Sui

Mysten Labs

Sui blockchain, Move programming language, Layer-1 infrastructure

Mysten Labs is the core team behind Sui, a Layer-1 blockchain founded by former Meta engineers focused on high-speed, low-latency applications. The company uses the Move programming language and focuses on infrastructure enabling gaming, DeFi and consumer applications.

Sui third-largest non-EVM blockchain: 2.6B+ TVL, 160M+ daily transactions.
75M+ non-vote transactions daily with 2.5M+ daily active users in 2026.
Founded 2021 by Meta engineers: Evan Cheng (CEO), Sam Blackshear (CTO), Abiodun, Danezis. Raised $336M total.

mystenlabs.com (opens mystenlabs.com)Company profile →

Founded: 20215 yrs
Headquarters: United States
Status: Private
Valuation: $2BprivateMar 2025
Raised: $336M2 rounds
Last round: Series B · $300MSep 2022
Works in: CryptoBlockchains (L1s)
Coverage: 1 program · 5 updateslatest 1 Jan 2026checked 10 Oct
Lead investors: FTX VenturesAndreessen Horowitz
Partners: Meta (opens meta.com)
Investors: Andreessen Horowitz (opens a16z.com)FTX Ventures (opens ftx.ventures)
People: Evan Cheng (opens linkedin.com)CEOSam Blackshear (opens cryptobriefing.com)CTO (until 2024, joined Anthropic)Adeniyi Abiodun (opens mystenlabs.com)Co-founder

Sui

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

Object-based execution

Move smart contract language

Narwhal-Bullshark consensus

Spec sheet

Update log

2026

2025

May 2023

Sep 2022

About Mysten Labs

Current obstacles

Physics limits

How it works

Object-based execution

Move smart contract language

Narwhal-Bullshark consensus

Spec sheet

Update log

2026

2025

May 2023

Sep 2022

About Mysten Labs