Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Sui Network clears suspicions about supply of ‘Shady’ tokens
ALTCOIN NEWS

Sui Network clears suspicions about supply of ‘Shady’ tokens

By Crypto FlexsMay 7, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Sui Network clears suspicions about supply of ‘Shady’ tokens
Share
Facebook Twitter LinkedIn Pinterest Email
  • Sui Network is facing investigation over allegations related to its native SUI token supply.
  • The ecosystem recently marked an important milestone as it celebrated its one-year anniversary.
  • Sui has taken steps to address concerns related to token distribution.

Sui, a layer 1 blockchain and smart contract platform dedicated to digital asset ownership, has had an incredible journey since its founding, achieving significant milestones across the ecosystem. Continuing this momentum, on May 3, 2034, Sui celebrated one year since its launch.

But the celebration was short-lived. Cyber ​​Capital founder Justin Bons raised the alarm over perceived discrepancies in the network’s token supply. To reassure investors, Sui addressed the criticism.

Learn more

SUI token supply: centralized or not?

in Twitter On May 4, 20224, the SUI Network refuted claims that the token supply was centralized, calling it misleading and inaccurate.

At the heart of Bons’ concerns are questions about the distribution of Sui’s tokens, the claim that 80% of them are allocated to network founders. Bons claimed that $160 million of SUI’s total $10 billion went to its “for-profit” founder, Mysten Labs. At the same time, in addition to the significant $1.5 billion allocated to venture capitalists, an additional $600 million was allocated to “early contributors.”

2/16) Founders control the majority of the supply without lock-ins and legal guarantees!

The legal fine print protects them because the truth is sobering.

This is what makes the chart below published by the SUI Foundation a lie.

Staked SUI means no locking at all! pic.twitter.com/pFu5PRsknX

— Justin Bons (@Justin_Bons) May 2, 2024

Bons emphasized that this allows the founders to control the majority of the supply without any lock-ups or legal guarantees, which could pose significant risk to holders if they were to sell off. In response to these claims, Sui emphasized that its founder, Mysten Labs, does not control the SuiFoundation treasury, community reserves, stake grants, or tokens allocated to investors.

“Sui Foundation is the largest holder of locked tokens, which will be unlocked in accordance with the public emissions schedule,” stated the network, adding that “there is no mystery about token ownership. Every token that will be released has been allocated.”

Reiterating its commitment to transparency, Sui has confirmed that all staking rewards earned by the Sui Foundation are reinvested into the community and this is also reflected in the public emissions schedule.

Sui’s one-year anniversary coincides with the network’s recent partnerships with leading technology giants.

Sui Network and its founder, Mysten Labs, recently announced a new partnership with Google Cloud in an effort to advance Web3 innovation.

This partnership is expected to accelerate the development of secure, scalable, and user-centric Web3 experiences by integrating Sui blockchain data into BigQuery public datasets and providing developers with advanced analytics tools.

Sui will also leverage Google Cloud’s generative AI platform, Vertex AI, to improve code generation and debugging for Web3 developers and leverage scalable infrastructure to ensure network security and high performance.

Google Cloud and Sui support the network’s developer community through Google’s Web3 Startup Program, providing resources such as Google Cloud credits, access to experts, foundation grants, and more.

On the flip side

  • Despite Sui’s assurances, market participants labeled the network manipulative with the intention of dumping the tokens on retail investors.
  • The SUI token has had an impressive performance over the past few months, but continued underperformance has raised questions about its reliability, with the token down about 30% in the past 30 days and 91% below its all-time high.
  • At the time of reporting, SUI deal with $1.14, up 5.62% in total over the last 24 hours.

Why This Matters

Justin Bons’ concerns about the Sui token supply reflect the importance of transparency and true decentralization within the industry. Sui’s confidence can further strengthen investors’ trust and confidence in the network.

To understand the underperformance of the native SUI token in recent weeks, read:
SUI fails to recover 83% loss despite surge in chain activity

Here’s how the Curve DAO token is sparking recovery hopes among investors.
CRV ends the week with a green tick, signaling signs of recovery.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

InFocus Launches Digital Ventures Strategy With Mythos Group To Push Into Blockchain, AI And Bitcoin

September 1, 2025

WorldShards Announces Partnership With ByBit And TGE Date

September 1, 2025

EcoSync & CarbonCore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3

September 1, 2025

NFT sales in August increased 2.78% in July 2025

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025
Most Popular

Memecoins Dominate Most Crypto Investor Interest in 2024: CoinGecko

December 26, 2024

The story of Ethereum’s value increase under pressure after ETH DApp trading volume drops 19%

September 18, 2024

Crypto Pundit predicts XRP price will rise “dramatically.”

December 13, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.