NS Token: The core asset of the SuiNS protocol

The SuiNS protocol is moving towards decentralization, and the NS Token plays a crucial role in this transformation process. As the platform continues to develop, the NS Token provides real value to community members, enabling them to participate in decision-making processes that influence the future of the protocol. By being used for proposal voting and determining development priorities, the NS Token brings tangible benefits to users.

Function of NS Token

As a key asset in the SuiNS ecosystem, the NS Token aims to enhance the utility of the protocol and provide users with rights that go beyond simple holding. NS holders can enjoy the following features, making participation in the protocol more meaningful and rewarding, thereby promoting interaction and enhancing community cohesion.

Participate in governance

NS is the core of SuiNS protocol governance, giving holders a direct voice in important development decisions. By locking NS, holders can increase their influence, gaining an additional 10% voting power for each month locked, with a maximum lock-up period 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, proposals require 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 those users who help shape the future of SuiNS.

Purchase domain name

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 with a fixed amount of tokens, ensuring price stability and predictability without worrying about potential premiums that may arise in the future.

Future Development

SuiNS is developing powerful new features to enhance the value of Web3 identity services. 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 help drive innovations that enhance the utility of NS and build a long-term ecosystem that serves users.

Shaping the Future of Web3 Identity

SuiNS is committed to becoming a fully decentralized Web3 domain service, with NS being the core element of this transformation. Community members holding NS gain a voice in the evolution of the protocol, influencing the direction and strategic decisions of SuiNS through governance voting. This not only directly hands governance power to users but also closely ties the development of SuiNS to community interests, laying a solid foundation for the shared growth and innovation of Web3 identities.