Sui Dismisses Misconceptions and Concerns about Token Supply
Some concerning discussions have developed on social media platforms over the last few days regarding the token supply of Sui at a time when Sui is celebrating its one year success. It was vital for Sui to clear up some mistaking notions and provide accurate information. Sui Network has provided some details in this regard in a latest tweet. The Sui token ecosystem is a locked-token system where third-party custodians shield the tokens until deployment according to this project’s emission plan.
Sui Ecosystem Fosters Fairness with Shared Staking Rewards
In contrast to the online rumors, Mysten Labs’ founders influence the outcomes concerning numerous token allocations. This entails the Sui Foundation treasury, community reserve, stake subsidies, and investor tokens. Every token allocation is fully disclosed with a timeline because of the emission plan.
The Sui Foundation is the ecosystem’s most significant locked tokens’ holder, making it runs the most critical part in the growth of the ecosystem. Additionally, the Sui Foundation uses the said token in supporting essential guild members, growing the programming language, increasing network security, and conducting research on the creation of new products that eventually lead to a thriving ecosystem.
Interestingly, the staking rewards and transaction fees from network activities are already being shared within the Sui ecosystem. For instance, the Sui Foundation re-injects the staking rewards into the community. This results in equality and fairness among the ecosystem participants.
Cyber Capital Founder Questions Sui’s Staked Token Distribution
In a recent tweet, Cyber Capital founder Justin Bons expressed concern about the fairness of the staked Sui supply distribution among the founders. The arguments he made were not valid as the founding members of the project do not hold control over the token supply. All the same, Sui remains dedicated to transparency, ensuring that all participants have full information on the token supply and distribution.
He says that recent data shows that more than 8 billion SUI tokens have been state, and the founding team accounts for more than 84 % of the staked supply. Nevertheless, these figures reflect the intended distribution mechanism, and the founding team’s holdings do not suggest any disproportionate control.
Ultimately, Sui underscores its continued dedication to transparency and accountability. The project adopts a transparent method and puts its staking rewards back to the community’s well-being. It updates all stakeholders on its current token holdings and treats all tokens with fairness and equality.
