SuiNS Launches NS Token: Enhancing Ecosystem Functionality and User Engagement

SuiNS is steadily moving towards a decentralized protocol, and the NS Token plays a crucial role in this transformation. The token is set to be officially released on November 14. As the platform continues to evolve, NS provides tangible value to community members, enabling them to participate in governance decisions that influence the future direction of the protocol. By being used for proposal voting and determining development priorities, NS brings real value to platform users.

Uses of NS Token

NS Token is the core asset of the SuiNS ecosystem, designed to enhance the utility of the protocol and provide users with benefits beyond simple holding. NS holders can enjoy multiple features that make participating in the protocol more meaningful and rewarding, thereby promoting interaction and strengthening community cohesion.

Governance Participation

NS is key to the governance of the SuiNS protocol, granting holders direct voting power in important development decisions. By locking NS, holders can increase their influence, with a 10% increase in voting power for each month locked, for a maximum of 12 months. This mechanism encourages long-term active participation and allocates voting rewards to participants, further incentivizing community-driven governance.

To ensure basic community participation and enhance the legitimacy of the results, a proposal requires at least 1% of the initial circulating NS participation to be considered valid. Through this process, NS not only strengthens the integrity of the protocol but also rewards those users who help shape the future of SuiNS.

Purchase domain name using NS

In addition to governance functions, NS can also be used to purchase SuiNS domain names at a discounted price. This feature allows community members to obtain domain names for a fixed amount of tokens, ensuring price stability and predictability, without worrying about potential premiums that may arise in the future.

Future Use Cases

SuiNS is developing powerful new features to enhance the value of its Web3 identity services. With the implementation of these new features, the utility of NS will also expand, providing community members with more ways to actively participate in the development of SuiNS. By actively participating, users can help drive innovations that enhance the utility of NS and build an ecosystem that can serve users in the long term.

Shaping the Future of Web3 Identity

SuiNS is committed to becoming a fully decentralized Web3 domain service, and NS is the core element of this transformation. Community members holding NS have a say in the evolution of the protocol and can influence the development direction and strategic decisions of SuiNS through governance voting. This not only directly hands governance power to users but also aligns the development of SuiNS with community interests, laying the foundation for the collective growth and innovation of Web3 identity.