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The team behind Layer1 blockchain Sui released a $SUI token release schedule. According to the schedule, only part of the allocations of Stake Subsidies, Community Access Program and Community Reserve has been unlocked. Early Contributors' and Investors' allocations will start to unlock in April 2024, and Mysten Labs Treasury's $SUI will be unlocked in 2025. The circulating supply of $SUI is expected to reach 1 billion by the end of 2023.
Sui said that the schedule may change as is required to preserve the health of the Sui network.
Recently, crypto trader DefiSquared claimed that the Sui team intentionally misrepresented the $SUI emission schedule and was dumping staking rewards from locked $SUI held by the foundation on Binance. The Sui Foundation denied the accusation, saying that it hadn't sold staking rewards or any other tokens from locked and non-circulating staked $SUI on Binance or other platforms, and the addition to the $SUI token supply had proceeded as planned. According to CoinMarketCap data, the circulating supply of $SUI is around 604 million now.
Related: DeFi Analyst Accuse Sui Publish False Emission Chart and Team Dumping Staking Rewards
Sui Foundation Denies Selling Staking Rewards from Locked $SUI on Binance
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Sui
Layer 1
