Justin Bons appreciated the Sui crypto design but raised two big concerns about the Sui token circulation model.
The Sui crypto token is essential for transactions and rewards within the Sui ecosystem. It facilitates secure transactions, incentivizes users, and can be traded on crypto exchanges for liquidity and potential profit.
On 2 May 2024, Cyber Capital founder Justin Bons shared his opinion on the Sui crypto token and said that Sui has a great design but its token economics is not very transparent.
According to Bons, Sui tokens have a capped supply of 10 billion and currently 8 billion suit tokens are in staking, which is under founding team control.
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Furthermore, Bons added that the founders control most of the supply without any lock-in period and legal guarantees. Sui has so far refused to disclose information about the majority of its token supply.
Some crypto traders noted that the Sui token staking reward is enough for stakers, including founders, this is creating a very big sell pressure on the Sui token market, as they’re selling $5 million worth of Sui tokens every week.
The current trade price of Sui token is $1.09 & this price is 35% down over the last 30 days.
In May, $1,000,000,000 worth of 800 million sui tokens will be unlocked by the Suit crypto team. With this big amount of token unlock, they will increase the circulation supply by 8% which is itself a very big figure for any crypto token in this innovative sector.
Some crypto X (Twitter) users alleged that the Sui token is an example of VC’s abuse of money power because they’re going to gain 50% profit because they are going to dump tokens against retail investors.
Read also: US economic advisor says “govt can’t go bankrupt bcz they can print own money”
Cyber Capital founder warns over Sui token’s 84% supply control
https://bitcoinik.com/cyber-capital-founder-warns-over-sui-tokens-84-supply-control/feed/
https://bitcoinik.com/cyber-capital-founder-warns-over-sui-tokens-84-supply-control/feed/
