- The founder of Cyber Capital, Justin Bons, has recently criticized the Sui (SUI) team heavily on social media.
- Bons pointed out that over 8 billion Sui have been staked, with more than 84% of these assets held by the founding team, indicating a significant monopoly and risk.
- He also warned investors to be cautious, highlighting that Sui has an overly centralized structure.
Justin Bons, founder of Cyber Capital, criticizes the Sui team for their monopoly and warns investors about the potential risks involved in the overly centralized structure of Sui.
Justin Bons Criticizes Sui Team
Justin Bons, the founder of Cyber Capital, has recently taken to social media to voice his concerns about the Sui (SUI) team. In his post, he criticized the team for holding more than 84% of the over 8 billion Sui that have been staked. This, according to Bons, indicates a significant monopoly and risk.
Concerns Over Sui’s Centralized Structure
Bons further highlighted that Sui has an overly centralized structure. He warned investors to be cautious, pointing out that there is no lock-up period or legal guarantee for the supply held by the Sui team. This could potentially lead to the price of SUI being shattered in the event of a sale. He further stated that SUI claims to have a limited supply of 10 billion, with 52% of it being “unallocated” until 2030. The problem, according to Bons, is that more than 8 billion SUI are currently being staked, with over 84% of the stack supply in the hands of the founders. This means that the founders control the MAJORITY of the supply without restrictions and with ZERO legal guarantees.
Conclusion
Given these concerns raised by Bons, investors are advised to exercise caution when dealing with Sui. The lack of a lock-up period and legal guarantees, coupled with the monopoly held by the founding team, present significant risks. It remains to be seen how the Sui team will address these issues and whether they will take steps to decentralize their structure.
