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Sui Foundation funds 20 university teams for blockchain research, focusing on scalability, privacy, and AI tools. (Read More)
Mysten Labs launches Bullshark Quest 2 on July 28, 2023, offering a 5M SUI reward pool. Open to SuiFrens Bullshark or Capy holders, participants earn points via dApps engagement. (Read More)
Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm unlocked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance . The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including [...]
The post Sui Foundation denies it sold locked staking rewards on Binance appeared first on Crypto Breaking News.
The Sui Foundation has denied allegations that it unlocked SUI staking rewards and dumped them on cryptocurrency exchange Binance. In a five-part Twitter thread on [...]
The team behind the Sui network and its native SUI token has taken to Twitter to deny allegations of selling locked staking rewards on Binance. Word on the street is that the team moved a huge amount of locked staking rewards and dumped them on Binance to cash in. Sui Foundation Denies Selling Locked Staking [...]
The post Sui Foundation Refutes Claims Of Dumping Locked Staking Rewards On Binance appeared first on Crypto Breaking News.
Sui Foundation has ended its relationship with the decentralized exchange MovEX following a breach of contract. The foundation alleged that MovEX had released a significant amount of SUI tokens – subject to a contractual lockup – into circulation. Sui Foundation Terminates Relationship With MovEX For Unlocking 2.5 Million Tokens On July 26, 2023, the Sui Foundation released a blog post, explaining the network’s token supply and the essence of its token release schedule. The foundation also announced the termination of its relationship with MovEX after breaching its token lockup contract. Related Reading: Shibarium Bridge Goes Live In Beta But There’s A Catch According to the foundation, early contributors to the network received SUI tokens that were subject to a lockup period – only to be released based on a preset schedule. MovEX was one of the recipients of this token allocation, collecting 2.5 million SUI tokens as payment for its contribution to the exchange product DeepBook. However, the decentralized exchange (DEX) was found to have violated the token lockup by moving its entire allotment of tokens in three (625,000 SUI) transactions to three separate wallets. At the time, these transactions raised questions about the Sui Foundation, with some tweets implying that the foundation “intentionally misrepresented” the token emissions schedule. The foundation denied these claims and has further clarified in its latest post that it didn’t consent to the three transactions by MovEX. As a result of these events, the Sui Foundation has cut off ties with the decentralized exchange. It also confirmed that no additional SUI tokens will be distributed to MovEX, nor will the DEX remain a contributor to DeepBook. “By July 3, upon Sui Foundation’s request, MovEX had moved the entire allotment of 2.5M tokens to a wallet at a qualified custodian who will release them according to the contractual lockup schedule in compliance with the previously released token emissions schedule,” the foundation noted. According to the analytics dashboard Token Unlocks, a total of 646.25 million SUI tokens have been unlocked so far, with the next unlocking event expected to take place on July 31. SUIUSDT valued at $0.6359 | Source: daily SUIUSDT chart from TradingView MovEX Addresses Community On Situation On Thursday, July 27, the team behind MovEX released a statement on Twitter, addressing its community on the situation. In the tweet, the project acknowledged that it received the SUI tokens – as claimed by the Sui Foundation. Related Reading: Short-Lived Hype: Worldcoin (WLD) Signups Dwindle Less Than A Week After Launch MovEX also stated that it transferred its entire allotment of SUI tokens to “custodian and non-custodian wallets”. While confirming that it has moved the tokens back to a qualified custodian, the DeFi protocol claims to understand the decision of the Sui Foundation. MovEX is a decentralized exchange native to the Sui network. According to the protocol’s whitepaper, it combines an automated market maker (AMM) and order book to create a hybrid liquidity DEX. Featured image from Dreamstime, chart from TradingView
Sui Network (SUI) is surging in July as it attempts to recover some of the losses made during the third quarter. The token is up [...]
The Sui Foundation launches a grant program to fund DeepBook, its native liquidity layer, fostering decentralized finance growth through targeted project support. (Read More)
Sui is looking for new scalable and sustainable projects for its blockchain, and its offering generous encouragement.
SUI has lately attracted a lot of interest and peaked in its development. It finished the week at its all-time high price of $2.30 and ranked higher than top altcoins such as Polkadot (DOT), therefore ranking itself among the top 15 cryptocurrencies. Among those who support SUI, this achievement has inspired hope since they believe [...]
The post SUI Price Hits All-Time High But Questions About Valuation Remain appeared first on Crypto Breaking News.
Sui Foundation updates its Request for Proposals program, offering new opportunities for developers through rolling cohorts and flash RfPs to address ecosystem needs. (Read More)
Sui network has hit the $2 billion mark in TVL, making it one of the most successful projects, according to DeFiLlama. This achievement was made only three months after its TVL had itself doubled and has reinforced its position as the fastest growing blockchain in terms of this parameter. According to Christian Thompson, the Managing […]
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