In a recent development, Cyber Capital founder Justin Bons expressed his concerns about the token offering of the cryptocurrency project Sui.
Bons criticized that more than 8 billion SUIs have been staked and more than 84% of the staked supply is controlled by the founding team. He also pointed out that the founders control most of the supply without any lock-in period and legal guarantees.
In response to these doubts expressed by the community, Sui clarified in his official response that the founders of MystenLabs do not control the Sui Foundation treasury, community reserve, staking allowances, or tokens allocated to investors. According to the statement, Sui Foundation is the largest owner of locked tokens.
In the official statement made by Sui, the following was emphasized:
“Recently, there have been some misleading posts about Sui's token offering. Let's clarify the situation, starting with the basics: locked tokens are locked by third-party custodians. They cannot be moved and are securely stored until unlocked according to Sui's token emission program. Additionally, 100% of the staking rewards earned by the Sui Foundation are returned to the community and included in the public emissions program.”
*This is not investment advice.