$SUI A Token Unlock Lands Right on Schedule
Sui’s August 1 token unlock released about 13.72 million SUI into circulation, split across three groups, i.e. 4 million to the community reserve, 7.65 million to early contributors, and 2.07 million to the Mysten Labs treasury. At current prices, the release was worth roughly $9.9 million, or about 0.34% of its circulating supply.
Bitcoin.com News flagged the release in a July 29 report, noting it was part of a broader $81 million weekly token unlock wave across the market, topped by artist-token platform Audiera (BEAT). Unlike BEAT’s cliff-style release, Sui distributes tokens through continuous daily vesting, a design analysts say tends to spread out selling pressure rather than dumping a large percentage of supply on a single day, the way cliff unlocks for tokens like EigenLayer’s EIGEN or Kite AI’s KITE can.
Sui is a layer-1 blockchain built by Mysten Labs, a startup five former Meta engineers founded in 2021 after working on the company’s abandoned Novi wallet and Diem stablecoin projects.
Sui’s August 1 token unlock released about 13.72 million SUI into circulation, split across three groups, i.e. 4 million to the community reserve, 7.65 million to early contributors, and 2.07 million to the Mysten Labs treasury. At current prices, the release was worth roughly $9.9 million, or about 0.34% of its circulating supply.
Bitcoin.com News flagged the release in a July 29 report, noting it was part of a broader $81 million weekly token unlock wave across the market, topped by artist-token platform Audiera (BEAT). Unlike BEAT’s cliff-style release, Sui distributes tokens through continuous daily vesting, a design analysts say tends to spread out selling pressure rather than dumping a large percentage of supply on a single day, the way cliff unlocks for tokens like EigenLayer’s EIGEN or Kite AI’s KITE can.
Sui is a layer-1 blockchain built by Mysten Labs, a startup five former Meta engineers founded in 2021 after working on the company’s abandoned Novi wallet and Diem stablecoin projects.