Sui Network has rejected "misleading" reports that its token offering is disadvantageous to retail investors.
In a post published on social network X, #Sui Network said that third-party custodians have secured the locked SUI tokens and that they cannot be moved until they are unlocked in accordance with the project's #token release schedule.
#Sui Network also clarified that Mysten Labs, the developer of the project, is not involved with Sui Foundation's financial resources, community reserve funds, equity grants or other tokens allocated to investors.
Sui Foundation is the largest holder of blocked tokens, and the unlocking of tokens is in accordance with the public #issuance schedule. These tokens will be used to support developers, develop the Move programming language, improve network security and grow the ecosystem through initiatives such as developer grants, hackathons, bug fixes and academic research.
Bid rewards are already in circulation as they consist of bid grants and network fees. In addition, 100% of the stakes rewards earned by the SUI Foundation will be returned to the community and included in the public issue schedule.
As of this writing, SUI has a maximum offering of 10 billion and a revolving supply of 2.33 billion; according to TokenUnlocks, the revolving supply is expected to increase to approximately 3.6 billion over the next year.
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