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

SuiNS is steadily advancing the decentralization process of its protocol, and the NS Token plays a crucial role in this transformation. This token not only provides real value to community members but also empowers them to participate in shaping the future of the protocol. By voting and setting development priorities, NS creates a true value proposition for users.

Core Functions 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 multiple functions that make participation in the protocol more meaningful and rewarding, thereby promoting interaction and enhancing community cohesion.

Participate in governance decisions

NS is the core of the SuiNS protocol governance, giving holders a direct voice in key development decisions. By locking NS, holders can increase their influence, with a 10% increase in voting power for each month locked, up to 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 the basic participation of the community 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.

Discount 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 for a fixed number of tokens, ensuring price stability and predictability without worrying about potential premiums in the future.

Features in Expansion

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, 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 votes. 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 identities.

With the continuous development of the platform, the NS Token will continue to play a key role in purchasing domain names and participating in governance, and is expected to expand into more areas in the future. This flexibility and adaptability make NS a dynamic and indispensable component of the SuiNS ecosystem, providing users with diverse ways to participate and realize value.