The Sui Foundation terminates partnership with MovEX over lockup agreement violation, leading to drama and accusations in the crypto world.
- The Sui Foundation ends partnership with MovEX due to a lockup agreement violation.
- MovEX accused of moving Sui tokens without notifying the foundation, sparking drama.
- Twitter user DefiSquared alleges Sui misrepresented token emissions and blames MovEX for suspicious transactions.
- Sui Foundation assures locked-up tokens are safe while monitoring the situation closely.
Hold onto your hats, crypto enthusiasts! The Sui Foundation just dropped a bombshell, ending its partnership with MovEX over a lockup agreement gone wrong. The Sui Network is in for a rollercoaster ride of drama, accusations, and Twitter threads!
Hey there, crypto crew! Buckle up because we’ve got some spicy blockchain gossip for you! The Sui Foundation, the mastermind behind the Sui Network, has just slammed the brakes on its partnership with MovEX, the decentralized exchange and liquidity platform.
💥The @SuiFoundation has ended its relationship with #MovEx🛡️
The foundation had given MovEx 2.5M $SUI for its work on the network’s native order bookđź‘€
However, the #DEX made 3 transactions, moving chunks of the #Crypto in violation of the agreement⚔️ pic.twitter.com/cbEGq2vmbA
— Satoshi Talks (@Satoshi_Talks) July 27, 2023
The Partnership Drama….
Now, imagine this partnership was like a thrilling rollercoaster ride – they were working together to build the Sui Network and its fancy DeepBook. But guess what? This rollercoaster just crashed and burned!
So, here’s the deal. MovEX went ahead and moved some Sui tokens around without telling the Sui Foundation. It’s like stealing your friend’s candy stash without even whispering a word – not cool, right?
The Sui Network’s DeepBook was supposed to be a smooth shared decentralized party for orders, but things got bumpy when MovEX allegedly misrepresented token emissions. Twitter detectives got on the case, and boy, did they make some noise!
DefiSquared, the mysterious Twitter sleuth, accused Sui of secretly selling tokens on the Binance exchange. And guess who was responsible for those sketchy transactions? You guessed it – MovEX was caught red-handed!
So, what did the folks at MovEX have to say for themselves? They hopped on Twitter, all smiles, and tried to clear their name. They said the tokens were sent to both custodian and non-custodian wallets. It’s like saying, “Hey, we shared the candies with everyone, promise!”
But here’s the thing – the Sui Foundation is on a mission to save the day! They assured the crypto world that all the other locked-up tokens are in safe hands. Phew! It’s like having a responsible big brother watching over your candy stash!
To Sum it All Up….
Transparency and responsibility are the names of the game for the Sui Foundation. They’re keeping their eyes on those precious tokens, making sure they’re well-protected in qualified custodian accounts.
Now, here’s the kicker – we’re all watching to see what happens next! Will the Sui Network overcome this rollercoaster ride of drama? Only time will tell!
So, fellow crypto adventurers, fasten your seatbelts and hold on tight! The Sui Foundation and MovEX are taking us on a wild ride, and we’re in for a crypto-coaster of a time! Stay tuned for the next chapter in this thrilling blockchain saga!
