Sui Network team reveals details of native token distribution

The organization behind Sui Network’s development, the Sui Foundation, has revealed details of native token distribution after the mainnet launch. More than 50% of the issuance will be allocated to the project’s development.

🎉Rounding out 2022, we’re excited to share more details about SUI token allocation!

SUI aligns incentives across all network participants, and is the heart of Sui’s tokenomics.

Let’s dive into what token distribution will look like. 🧵https://t.co/pP62XDuUaK pic.twitter.com/aGbFOcSpk7

— Sui Foundation (@SuiFoundation) December 14, 2022

Sui Network is a first-layer blockchain developed by Mysten Labs. The latter was founded by former Meta executives, and one of its principal investors is the venture arm of FTX.

According to the statement, more than 50% of the native SUI token issuance will be transferred to the Community Reserve, managed by the Sui Foundation. These assets will be used to launch a range of programs aimed at developing the ecosystem. Specifically, the organization plans:

• Provide support for onboarding validators and foster an even distribution of SUI among them;
• issue grants to developers, ambassadors, and other network participants who help build the infrastructure;
• fund R&D initiatives;
• provide subsidies to validators in the early stages of the network’s development.

6% of the tokens will be allocated to the Community Access Program, under which users will be able to purchase SUI after the mainnet launch. The program also provides rewards for community members who help test ecosystem applications.

According to the diagram, the remaining tokens will be distributed as follows:

• 10% will be allocated to Mysten Labs’ reserves;
• 14% will be allocated to project investors;
• 20% are earmarked for early network participants.

The Sui Network team emphasised that the information published is ‘approximate’ and that the size of allocations for each category may be adjusted in the future.

Earlier in November, the project’s developers announced the launch of the testnet.

Read ForkLog’s Bitcoin news on our Telegram — crypto news, prices and analysis.