Yesterday morning, June 27, a user with the nickname “DefiSquared” published a damning material against the administration of the Sui Network. In it, he stated that the project team is withdrawing rewards from allegedly locked SUI tokens on Binance. The organization denies this.
In his publication, the author referred that the Sui team refused to release internal emission data. And the information that is reflected on CoinMarketCap is not true.
Exclusive new research on SUI:
Intentionally misrepresented emissions and proof the team themselves are dumping rewards from *locked* and *non-circulating* staked SUI onto Binance. (1/12) pic.twitter.com/jYRyeTFY56
— DeFi^2 (@DefiSquared) June 27, 2023
Allegedly, the offer increases not once a month, but daily. Which is confirmed, as the user himself stated, by the ever-increasing pressure of the SUI on Binance.
When he turned to the project administration, they advised him to study the “tokenomics” section in detail. DefiSquared also claims that in addition to the additional issue, which “dilutes” the value of the tokens, the Sui fund brings the tokens to the open market.
As evidence, he attached transaction data from wallet “0x341f”. So, for example, on May 31, 3.5 million SUI were withdrawn from it, which then settled on different Binance accounts.
The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know:🧵
— Sui Foundation (@SuiFoundation) June 27, 2023
At the Sui Foundation commented situation, noting that these accusations are false. Allegedly, the transfers identified in the DefiSquared material were payments under the contract. At the same time, the emission of new tokens is carried out in accordance with the plan.
They also promised to publish a detailed report soon. Thus, the administration of the project wants to reassure the audience. The next unlock of SUI tokens is expected on July 3 (61.08 million).
Source: Cryptocurrency
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