{"id":80884,"date":"2023-06-28T12:20:50","date_gmt":"2023-06-28T09:20:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80884"},"modified":"2025-09-11T19:40:53","modified_gmt":"2025-09-11T16:40:53","slug":"sui-network-team-denies-staking-rewards-sale-on-binance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sui-network-team-denies-staking-rewards-sale-on-binance\/","title":{"rendered":"Sui Network Team Denies Staking Rewards Sale on Binance"},"content":{"rendered":"<p>The Sui Foundation denies selling <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a> rewards for the SUI token on Binance and other breaches of the asset unlock schedule.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise.<\/p>\n<p>All insider token allocations remain subject to and compliant with their lock ups and other restrictions on transfer.<\/p>\n<p>\u2014 Sui Foundation (@SuiFoundation) <a href=\"https:\/\/twitter.com\/SuiFoundation\/status\/1673722229421670401?ref_src=twsrc%5Etfw\">June 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating SUI. All insider tokens remain subject to transfer restrictions,&#8221; the team said.<\/p>\n<\/blockquote>\n<p>The organization said liquidity provision for SUI on the market is proceeding as planned.<\/p>\n<p>The organization responded to accusations from a trader under the pseudonym DeFi^2. According to him, the developers conceal that they will unlock staking-reward tokens contrary to the project&#8217;s tokenomics. The additional emission amounts to about 33 million SUI per month.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In other words, if you hold SUI, it is currently being diluted by about 20% per month. This is higher than the inflation rate of the devalued Venezuelan bolivar in 2022,&#8221; the user <a href=\"https:\/\/twitter.com\/DefiSquared\/status\/1673572333829627904\">wrote<\/a>.<\/p>\n<\/blockquote>\n<p>As evidence, he pointed to transactions from the main wallet used to store SUI. However, the Sui Foundation said the assets were moved within the lock-up.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The specific transaction referenced was a payment subject to a contractual lockup.<a href=\"https:\/\/t.co\/ViYxQoJMos\">https:\/\/t.co\/ViYxQoJMos<\/a><\/p>\n<p>\u2014 Sui Foundation (@SuiFoundation) <a href=\"https:\/\/twitter.com\/SuiFoundation\/status\/1673722230596055047?ref_src=twsrc%5Etfw\">June 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to DeFi^2, the project team provides information about token emission volumes that do not match data from CoinGecko and Binance Launchpad.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We will soon publish a detailed forecast of the token issuance schedule and will share the link immediately,&#8221; the Sui Foundation replied.<\/p>\n<\/blockquote>\n<p>According to CoinGecko, SUI&#8217;s price fell 7.3% over the last 24 hours. Over the past month the asset has declined by nearly 35% and trades around $0.68. About 528 million tokens are in circulation out of a total supply of 10 billion SUI.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/ATUbRfEvXYmAoigTubG82KtEXlilmoHx14z9wMgRsjmPnJvQW8QnHmVeM7bNV40tQ83Z_L188OGSEkLLynJh_v5Ar-APTH-aoeMyhVyC2Q1djHkeCWIEXTihdHC-wFGExttt4Q_0BSbFEO55tGiHpZ4\" alt=\"\u041a\u043e\u043c\u0430\u043d\u0434\u0430 Sui Network \u043e\u043f\u0440\u043e\u0432\u0435\u0440\u0433\u043b\u0430 \u043f\u0440\u043e\u0434\u0430\u0436\u0443 \u0432\u043e\u0437\u043d\u0430\u0433\u0440\u0430\u0436\u0434\u0435\u043d\u0438\u044f \u0437\u0430 \u0441\u0442\u0435\u0439\u043a\u0438\u043d\u0433 \u043d\u0430 Binance\"\/><figcaption class=\"wp-element-caption\">Source: CoinGecko.<\/figcaption><\/figure>\n<p>The launch of the mainnet for the first-level blockchain Sui Network <a href=\"https:\/\/forklog.com\/en\/news\/sui-network-launches-its-mainnet\">took place on May 3<\/a>. SUI trading on Binance began at $1.7.<\/p>\n<p>In September 2022, the project developer \u2014 Mysten Labs, a startup formed by former Meta employees \u2014 <a href=\"https:\/\/forklog.com\/en\/news\/former-meta-employees-startup-mysten-labs-raises-300m-from-ftx-ventures-and-other-investors\">raised $300 million<\/a> at a $2 billion valuation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sui Foundation denies selling SUI staking rewards on Binance and other breaches of the asset unlock schedule.<\/p>\n","protected":false},"author":1,"featured_media":80885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1651,1258],"class_list":["post-80884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-sui-sui","tag-tokenomics"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80884"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80884\/revisions"}],"predecessor-version":[{"id":80886,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80884\/revisions\/80886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80885"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}