Sui Network clears up misunderstandings on token supply
According to Sui Network feedback, the Sui Foundation manages the main wallet with locked tokens released strategically to enhance the ecosystem.
Sui Network, a layer-1 decentralized platform, has responded to and corrected common misunderstandings about its token supply. This statement, posted on the X platform, refutes criticisms about its tokenomics, specifically addressing concerns about token distribution and founder control.
The platform maintains that its token economics are sound, utilizing reputable third-party custodians to manage locked tokens. Tokens are released according to a predetermined emission schedule and are publicly accessible. The foundation emphasizes that founders cannot control the treasury or tokens allocated to investors, including the community reserve.
According to feedback from the Sui Network, the Sui Foundation manages the primary wallet holding locked tokens, which are released under specific conditions to enhance the ecosystem. These allocations support various projects, including Move programming language development, network security enhancements, hackathons, and developer grants.
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Author: Amaka Nwaokocha
