Prime

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sui-network-celebrates-first-anniversary">Sui Network Celebrates First Anniversary</a><br></p>
<p style="text-align: justify">Sui Network has completed its inaugural year since the launch of its mainnet, marking significant growth as a decentralized Layer 1 network. The collaboration with Google Cloud earlier this week to enhance artificial intelligence and Web3 projects highlights its dedication to innovation. Despite these achievements, Justin Bons, founder of Cyber Capital, has raised concerns about the network’s tokenomics, particularly the high concentration of token ownership among the founders.</p> 
<h2 style="text-align: justify" id="tokenomics-spark-debate">Tokenomics Spark Debate</h2> 
<p style="text-align: justify">Justin Bons criticized the token distribution within Sui Network, noting that 84% of the staked supply is controlled by the founders, which contradicts the principles of decentralization. This centralization raises significant transparency and governance issues, lacking locked-in guarantees or legal protections for token holders.</p> 
<h2 style="text-align: justify" id="calls-for-greater-transparency">Calls for Greater Transparency</h2> 
<p style="text-align: justify">The demand for transparent disclosure of token wallet addresses remains unmet, leading to community concerns about the accountability of Sui Network’s management. Furthermore, despite utilizing services from institutions like BitGo, Anchorage, and <a href="https://en.bitcoinhaber.net/major-crypto-exchanges-apps-removed-from-apple-app-store-in-india">Coinbase</a> Prime for custody, the legal ownership details of the unallocated supply have not been clarified, perpetuating the uncertainties.</p> 
<h2 style="text-align: justify" id="distribution-practices-under-scrutiny">Distribution Practices Under Scrutiny</h2> 
<p style="text-align: justify">Bons also pointed out the uneven distribution of funds, with a significant portion allocated to profit-driven entities, early contributors, and venture capitalists, without a public sale. This strategy has sparked debates over fairness and equity within the network’s ecosystem.</p> 
<h2 style="text-align: justify" id="key-insights-for-users">Key Insights for Users</h2> 
<ul style="text-align: justify"> 
 <li>Users should scrutinize the ownership and distribution policies of decentralized networks for potential centralization risks.</li> 
 <li>Transparency in token distribution is crucial for establishing trust and accountability in blockchain projects.</li> 
 <li>Legal protections and clear custody details are essential for safeguarding participant interests in any crypto project.</li> 
</ul> 
<p style="text-align: justify">Despite these controversies, Sui Network continues to attract attention, reflected in its robust daily transaction volume. The current trading <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">price</a> of SUI is $1.09, showing a slight decline in a recovering <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">market</a>, with a market value standing at $2.54 million.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sui-network-celebrates-first-anniversary">Sui Network Celebrates First Anniversary</a></h5>

Sui Network Celebrates First Anniversary

Mục lục

BH NEWS

Các bài viết khác được xuất bản trên 4 thg 5, 2024

New Solana Memecoin Homo Pepe to Rally 8,000% and Take On Shiba Inu and Bonk

Apple Set to Revolutionize Messaging with AI Summarization in iOS 18

Ripple’s Recent 400 Million XRP Transaction

MakerDAO announces launch of two new tokens

Shiba Inu Price Surges as $5.16M Worth of SHIB Moved to Coinbase

Bitcoin Price Prediction: Trading Legend Peter Brandt Bets Big With $125,000 Target

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!