SuiNS's NS Token: A Fusion of Governance and Utility Value

SuiNS is advancing the decentralization process of the protocol, and the NS Token plays a key role in this transformation. The token is scheduled to be officially launched on November 14, aiming to provide real value to community members, allowing them to participate in important decisions that affect the future of the protocol. Through voting on proposals and setting development priorities, the NS Token brings tangible participation value to users.

Core Functions of NS Token

The NS Token is an important asset in the SuiNS ecosystem, designed to enhance the utility of the protocol and provide users with benefits beyond simple holding. NS holders can enjoy the following features, which make participation in the protocol more meaningful and rewarding, while promoting interaction and enhancing community cohesion.

Participate in governance decisions

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

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

Domain Purchase Discount

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

Looking to the Future

SuiNS is developing a range of powerful new features to enhance its value in the Web3 identity services space. As these new features are implemented, 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 drive innovation for SuiNS, enhance the utility of NS, and create a long-term ecosystem that serves users.

Shaping the Future of Web3 Identity

The goal of SuiNS is to become a fully decentralized Web3 domain service, and the NS Token is a core element in achieving this goal. Community members holding NS have a voice in the evolution of the protocol and can influence the development direction and strategic decisions of SuiNS through governance voting. This not only hands governance power directly to users but also closely ties the development of SuiNS to community interests, laying a solid foundation for the common growth and innovation of Web3 identities.