• Sui network recently shared a token release schedule in the interest of transparency.
• The circulating supply of SUI is expected to reach 1 billion by 2023.
• Allocations for early contributors and investors will start rolling out in April 2024.
SUI Token Distribution
The Sui network recently announced their token release schedule, in an effort to promote transparency and open communication about the project’s tokenomics. As per the data shared, the SUI tokens will be distributed over the course of seven years, with only a portion allocated for Stake Subsidies, Community Access Programs, and Community Reserve being unlocked so far. The allocations for early contributors and investors will start rolling out from April 2024 onwards, followed by treasury tokens for Sui network creator Mysten Labs in 2025. It should be noted that adjustments may be made in the current schedule to ensure a stable tokenomics model that supports theSui network’s health.
SUI Rally & Allegations
The native token of SUI witnessed a massive rally when it was listed on Binance back in May 2021 following its presale period. However, these gains were soon diminished after allegations arose that claimed members had unlocked staking rewards and “dumped” them on Binance. This sparked panic amongst investors who saw their holdings dip by 50% from its peak value before recovering later on.
Transparency & Open Communication
In response to these rumors and accusations, Sui took it upon themselves to publicly share their token release schedule as part of their commitment towards maintaining transparency and open communication about their project’s tokenomics model. This move was seen positively by crypto enthusiasts who commended the team for taking responsibility rather than shying away from addressing any potential concerns or issues related to their platform directly with stakeholders.
Mysten Labs Treasury Tokens
Allocations for early contributors and investors are set to roll out starting April 2024 while treasury tokens belonging to Sui network creator Mysten Labs will be unlocked sometime around 2025 – subject to any changes within this timeline that may occur based on future developments or requirements related to ensuring a healthy tokenomics model for Sui Network’s ecosystem as whole .
Conclusion
It is encouraging to see projects such as Sui Network take responsibility by openly communicating details regarding their platform’s token distribution schedules instead of turning away from any potential controversy or issue at hand – especially during times like these where trust between stakeholders is vital for any blockchain-based endeavor’s success .