NS Token: The Core Driving Force of the SuiNS Protocol

The SuiNS protocol is accelerating its decentralization process, and the NS Token plays a crucial role in this transformation. Expected to be officially released on November 14, the NS Token not only provides community members with the opportunity to participate directly in governance but will also continuously expand its use cases as the platform develops.

Main Functions of NS Token

As the core asset of the SuiNS ecosystem, the NS Token aims to enhance the utility of the protocol and provide users with benefits beyond simple holding. NS holders can enjoy the following features:

participate in governance decisions

The NS Token grants holders direct voting rights in key decisions of the SuiNS protocol. By locking NS, users can increase their influence, with a 10% increase in voting rights for each month locked, up to a maximum of 12 months. This mechanism not only encourages long-term active participation but also further incentivizes community-driven governance through the allocation of voting rewards.

To ensure the basic participation of the community and the legitimacy of decision-making, effective proposals require at least 1% of the initial circulating NS to participate. This process not only enhances the integrity of the protocol but also rewards those users who actively shape the future of SuiNS.

Discount Purchase Domain Name

In addition to governance rights, the NS Token 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 that may arise in the future.

Future Development Direction

SuiNS is actively developing new features to further enhance its value in the Web3 identity services sector. With the launch of these innovative features, the utility of the NS Token will also expand accordingly, providing community members with more ways to participate in the development of SuiNS. By actively participating, users can drive innovation that enhances the utility of NS, collectively building 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 the core element in achieving this goal. Community members who hold 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 tightly integrates the development of SuiNS with community interests, laying a solid foundation for the collective growth and innovation of Web3 identities.

As SuiNS continues to advance its decentralization process, the importance of the NS Token will further highlight. It is not only a governance tool but also a key link connecting users with the protocol and promoting the development of the ecosystem. By granting community members substantial participation rights and decision-making power, SuiNS is building a truly user-led Web3 identity platform.