A quick overview of SuiNS Token usage: empowering community governance and decentralization

The usage of NS token will start with purchasing domain names and governance, and will continue to expand as SuiNS develops.

SuiNS is gradually decentralizing the protocol, and the NS token plays a central role in this transformation and will be officially launched on November 14. As the platform grows, NS provides direct practical value to community members, enabling them to participate in governance decisions that affect the future of the protocol. By being used to vote on proposals and set development priorities, NS brings real value to users participating in the platform.

🌟 SuiNS: https://suins.io

NS token usage

NS token is a key 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, making participation in the protocol more meaningful and rewarding, driving interaction and enhancing community cohesion.

Governance Participation

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

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

Buy a domain name 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 number of tokens, ensuring stable and predictable prices without worrying about future premiums.

Future Use Cases

SuiNS is expanding powerful new features to enhance the value of Web3 identity services. As these new features are implemented, the use of NS will also increase, providing more ways for community members to actively participate in the development of SuiNS. By actively participating, users can help drive SuiNS to achieve innovations that enhance the utility of NS and create an ecosystem that serves users in the long term.

Shaping the Future of Web3 Identity

SuiNS is committed to becoming a fully decentralized Web3 domain name service, and NS is a core element of this transformation. Community members who hold NS gain a voice in the evolution of the protocol and influence the direction and strategic decisions of SuiNS through governance voting. This not only puts governance directly in the hands of users, but also aligns the development of SuiNS with community interests, laying the foundation for shared growth and innovation in Web3 identity.