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Sui official: Mysten Labs founder does not control any tokens
2024-05-05 04:16
Odaily News In response to recent questions about token supply, Sui's official account posted on the X platform that locked tokens are locked by a third-party custodian, cannot be moved, and are kept safe until unlocked according to Sui's token issuance schedule. @Mysten_Labs founders do not control @SuiFoundation treasury, community reserves, equity subsidies, or any tokens allocated to investors. In addition, token ownership is not mysterious, and each token to be released has been allocated. Sui Foundation is the largest holder of locked tokens, and locked tokens will be unlocked according to a public release schedule. These tokens are used to support builders, advance the development of the Move programming language, improve network security, and develop the ecosystem through initiatives such as developer funding, hackathons, bug bounties, and academic research. Staking rewards are already in circulation because they are composed of staking subsidies and network fees. In addition, 100% of the staking rewards earned by Sui Foundation will be returned to the community and included in the public release plan.