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Sui Network has clarified misconceptions about its token supply, ensuring transparency and secure custody by third parties, with a clear, public emission schedule. This comes amidst allegations against the network’s founders regarding large possession of tokens.
Sui Network has published a response on the X platform, rebutting attacks against its tokenomics, particularly on the distribution of tokens and control of tokens by the founders. According to the network, these tokens are released as per a predetermined emission schedule, which is publicly available. The foundation stresses that the founders have no control over the treasury or any of the tokens given to the investors, including the community reserve.
The Sui Foundation is the primary wallet holder of the locked tokens appointed for a controlled release under certain stipulations to strengthen the ecosystem. These allocations are meant to support many projects, including developing the Move programming language, network security enhancements, and community-oriented initiatives such as hackathons and developer grants. Furthermore, the network explains the distribution of staking rewards already in circulation in the system. These rewards are made up of stake derivations and network commissions, which are said to all go back to the community.