Sui Network (SUI) 将于 2025 年 1 月 1 日解锁价值近 3 亿美元的原生代币

Sui Network (SUI) 将于 2025 年 1 月 1 日解锁价值近 3 亿美元的原生代币。这是 Sui 代币经济和每月解锁计划的一部分，会增加 SUI 的流通供应量并稀释投资者的持股。

The Sui Network (SUI) will unlock nearly $300 million worth of its native token on January 1, 2025. This is part of Sui tokenomics and monthly unlock schedule that inflates SUI’s circulating supply and dilutes investors’ holdings.

Sui Network (SUI) 将于 2025 年 1 月 1 日解锁价值近 3 亿美元的原生代币。这是 Sui 代币经济和每月解锁计划的一部分，会增加 SUI 的流通供应量并稀释投资者的持股。

Finbold has been monitoring and reporting Sui cliff unlocks according to data from Tokenomist. For example, December 1 saw Sui’s largest unlock in U.S. dollar value to date due to SUI’s ongoing price increase, unlocking $224 million worth of 64.19 million tokens.

Finbold 一直在根据 Tokenomist 的数据监测和报告 Sui 悬崖解锁情况。例如，由于 SUI 的持续价格上涨，12 月 1 日，Sui 实现了迄今为止最大的美元价值解锁，解锁了价值 2.24 亿美元的 6419 万个代币。

The phenomenon is set to repeat on 2025’s first day if SUI continues trading close to its current level. Indeed, the usual 64.19 million SUI unlock currently holds a nominal value of $274.11 million. This will artificially increase Sui’s circulating supply and market capitalization by 2.19% after the token unlock.

如果 SUI 继续接近当前水平，这种现象将在 2025 年第一天重演。事实上，通常的 6419 万个 SUI 解锁目前名义价值为 2.7411 亿美元。这将在代币解锁后人为地增加Sui的流通量和市值2.19%。

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Interestingly, there are still 1.85 billion SUI locked in vested contracts with a scheduled unlock. Over 5.22 billion of locked SUI tokens are not yet scheduled, classified as “TBD locked” by Tokenomist.

有趣的是，仍有 18.5 亿 SUI 锁定在预定解锁的既得合约中。超过 52.2 亿锁定的 SUI 代币尚未安排，被 Tokenomist 归类为“TBD 锁定”。

Nearly $600 million of token unlocks next week

下周将解锁近 6 亿美元的代币

Overall, “Cliff Unlocks” data from Tokenomist also shows that $581.95 million will be unlocked by 43 cryptocurrency projects in the next seven days. Other projects with significant unlocks are Optimism (OP) and ImmutableX (IMX), with $60.80 million and $36.04 million, respectively.

总体而言，Tokenomist 的“Cliff Unlocks”数据还显示，未来 7 天内，43 个加密货币项目将解锁 5.8195 亿美元。其他已解锁的项目有 Optimism (OP) 和 ImmutableX (IMX)，分别为 6080 万美元和 3604 万美元。

Yet, SUI still represents the largest share, unlocking approximately 50% of all cliff unlocks for the upcoming week.

然而，SUI 仍然占据最大份额，解锁了下周所有悬崖解锁的大约 50%。

SUI tokenomics and market effects

SUI 代币经济学和市场影响

Sui Series A and B investors receive the most, getting over 19 million SUI each, for 61% of the total. Mysten Labs gets the remaining 25.03 million, reserving 12.63 million for the community, 10.34 million for early contributors, and 2.07 million for its treasury.

Sui A 轮和 B 轮投资者获得的资金最多，每人获得超过 1900 万枚 SUI，占总数的 61%。 Mysten Labs 获得剩余的 2503 万枚，其中 1263 万枚留给社区，1034 万枚留给早期贡献者，207 万枚留给其金库。

So far, the Sui Network has already unlocked 29% of its maximum capped supply of 10 billion SUI. At $4.27 per token, the “Solana-killer” has a fully diluted value (FDV) of $42.70 billion. This is a similar value to Circle’s USDC circulating market cap by press time.

到目前为止，Sui Network已经解锁了其最大供应量100亿SUI的29%。以每个代币 4.27 美元的价格，“Solana 杀手”的完全稀释价值 (FDV) 为 427 亿美元。截至发稿时，这与 Circle 的 USDC 流通市值相似。

Notably, each time the network unlocks more tokens, it increases the potential selling pressure and artificially inflates the market cap.

值得注意的是，每次网络解锁更多代币，都会增加潜在的抛售压力并人为地抬高市值。

An increasing supply requires a similar, or better, increased demand to sustain its prices, according to the laws of economics. This is why Sui’s largest cliff unlock to date represents a first-moment threat to SUI investors, diluting their holdings’ value.

根据经济规律，供应的增加需要类似或更好的需求增加来维持其价格。这就是为什么 Sui 迄今为止最大的悬崖解锁对 SUI 投资者构成了第一时间的威胁，稀释了他们所持股份的价值。

Furthermore, Sui has a unique tokenomics, which allows Mysten Labs and Series A/B investors to stake their locked tokens. These positions generate asymmetric liquid rewards against other staking investors, allowing these entities to sell these rewards or compound their staking positions over time.

此外，Sui 拥有独特的代币经济学，允许 Mysten Labs 和 A/B 系列投资者抵押其锁定的代币。这些头寸会针对其他质押投资者产生不对称的流动性奖励，从而允许这些实体随着时间的推移出售这些奖励或复合其质押头寸。

Featured image from Shutterstock.

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