A quick overview of SuiNS Token usage: Empowering community governance and Decentralization

The use of NS token will start with domain name purchase and governance, and will continue to expand with the development of SuiNS.

SuiNS is gradually realizing the Decentralization of the protocol, and the NS token plays a central role in this transformation, and will be officially launched on November 14th. As the platform develops, NS provides direct practical value to community members, enabling them to participate in governance decisions that will influence the future of the protocol. By using it for voting proposals and setting development priorities, NS brings real value to users participating in the platform.

🌟 SuiNS:

NS token usage

NS token is a key asset in the SuiNS ecosystem, designed to enhance the practicality of the protocol and provide users with benefits beyond simple holding. NSholders can enjoy the following functions, making participation in the protocol more meaningful and rewarding, promoting interaction and enhancing community cohesion.

Governance Participation

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

Proposals need at least 1% of the initial circulating NS to be considered valid, ensuring the basic participation of the community and enhancing the legitimacy of the results. Through this process, NS not only enhances the integrity of the protocol but also rewards users who help shape the future of SuiNS.

Purchase Domain Names Using NS

In addition to governance, 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 token quantity, ensuring price stability and predictability without worrying about future premiums.

Use Cases for the Future

SuiNS is expanding powerful new features to enhance the value of Web3 identity services. With the implementation of these new features, the use cases of NS will also increase, providing community members with more ways to actively participate in the development of SuiNS. Through active participation, users can help drive the innovation of enhancing NS utility for SuiNS and build an ecosystem that serves users in the long term.

Shaping the Future of Web3 Identity

SuiNS is committed to being a fully Decentralization Web3 domain service, with NS as the core element of this transformation. Community members holding NS have the right to speak in the evolution of the protocol, influencing the direction and strategic decisions of SuiNS through governance voting. This not only directly entrusts governance to users, but also aligns the development of SuiNS with the interests of the community, laying the foundation for the shared rise and innovation of Web3 identity.