#SUINetwork KOL DeFi^2 accused the Sui team of misrepresenting the token release and dumping the rewards from the "locked" and "non-circulating" staked SUI on Binance. First, the Sui team did not publish a real circulation chart, such as the SUI release chart on the Binance Launchpad announcement cited in the CoinMarketCap monthly update. Sui community team member LukeG also admitted that the SUI unlocking schedule has not yet been announced, and the release chart on the Binance Launchpad website is only an estimate.

Approximately 33 million SUI will be generated through continuous staking each month, and of the 600 million SUI in circulation, about 250 million are non-foundation, which means that the monthly release of SUI is equivalent to a 10% increase in non-foundation circulation. If the 37 million non-foundation SUI circulation obtained in Launchpad each month is included, it means that it is diluted by about 20% every month.

In addition, the Sui Foundation, which has nearly 3 billion "non-circulating" and "locked" SUI, is dumping the unlocked staking rewards from the market. Wallet 0x341f is the Sui Foundation wallet. The address has accumulated nearly 27 million SUI rewards. On May 31, wallet 0x341f transferred most of the 2.5 million SUI rewards (about 2.5 million US dollars at the time) to Binance through confusing means such as fund splitting and layered transfers or the team's active splitting. https://twitter.com/DefiSquared/status/1673572324145078273?s=20

At present, Sui officials and Sui Foundation have not responded to this matter. In the past month, SUI fell by about 28%, while BTC rose by about 14% during the same period. Token Unlocks data shows that 61,083,333.27 SUI will be unlocked at 8:00 on July 3, worth about 44 million US dollars. https://token.unlocks.app/sui