- Sui Network addresses concerns about its token supply being unfavorable to retail investors.
- Third-party custodians safeguard locked SUI tokens, which cannot be moved until unlocked as per the project’s token emission schedule.
- Mysten Labs, the project’s developer, is not involved with the Sui Foundation’s treasury, community reserve, stake subsidies or any other tokens allocated to investors.
Sui Network, a blockchain project, has clarified concerns about its token supply and the role of its developer, Mysten Labs, in a recent social media post.
Sui Network Addresses Token Supply Concerns
In a post on social media, Sui Network has addressed concerns about its token supply being unfavorable to retail investors. The project clarified that third-party custodians safeguard the locked SUI tokens, which cannot be moved until they are unlocked according to the project’s token emission schedule.
Role of Mysten Labs in Sui Network
Sui Network also clarified that Mysten Labs, the developer behind the project, is not involved with the Sui Foundation’s treasury, community reserve, stake subsidies or any other tokens allocated to investors. The Sui Foundation is the largest holder of locked tokens, which will be unlocked in accordance with the public emissions schedule. These tokens are used to support builders, advance the Move programming language, increase network security, and grow the ecosystem through initiatives like developer grants, hackathons, bug bounties, academic research, and more.
SUI Token Market Performance
At the time of writing, SUI currently has a max supply of 10 billion with a circulating supply of 2.33 billion. The circulating supply is expected to grow to roughly 3.6 billion over the next year, according to TokenUnlocks. SUI is trading at $1.13 with a market cap of $2.64 billion and a fully diluted valuation (FDV) of $11.318 billion.
Conclusion
While concerns about the token supply and the role of Mysten Labs have been addressed by Sui Network, investors should continue to monitor the project and its token performance. The project’s commitment to transparency and its strategic initiatives to grow the ecosystem are positive signs for potential investors.
