Sui: The tokens are locked by a third-party custodian, cannot be traded and are kept safe
In response to recent social media doubts about the SUI token model and founder-controlled tokens, Sui tweeted that its unlocked tokens are locked by a third-party custodian, cannot be traded, and are safely stored. Mysten Labs founder (Sui development team) does not control the Sui Foundation's treasury, community reserves, staking subsidies, or any tokens allocated to investors.
The Sui Foundation is the largest holder of locked tokens, which will be unlocked according to a public issuance plan to support developers, promote the Move programming language, improve network security, and develop the ecosystem through developer funding, hackathons, bug bounties, academic research, and other programs. In addition, staking rewards are already in circulation, consisting of staking subsidies and network fees. The Sui Foundation returns 100% of the staking rewards it receives to the community and includes them in the public distribution plan.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US spot Bitcoin ETFs log highest inflow day since June, two-month high in total value
Following a seven trading day streak of inflows and bolstered by the rising price of Bitcoin, the total assets held by US-based spot Bitcoin ETFs has reached a two-month high.Friday also marked the largest inflows to the funds since early June, a nearly four-month high.
FBI seizes $6M from crypto scammers targeting US citizens
Vitalik Buterin Proposes Ethereum Ecosystem Alignment Concept