SuiNS launches NS Token to promote protocol Decentralization and identification management innovation

SuiNS is steadily advancing the decentralization process of the protocol, with the NS Token playing a key role in this transformation. As the core asset of the SuiNS ecosystem, the NS Token aims to enhance the protocol's utility, providing users with rights that go beyond simple holding.

The main functions of the NS Token include participating in governance and purchasing domain names. In terms of governance, holders can increase their voting weight by locking NS, with a 10% increase in voting power for each month locked, up to a maximum of 12 months. This mechanism encourages users to participate actively in the long term and receive corresponding voting rewards. To ensure basic community participation, effective proposals require at least 1% of the initial circulating NS to participate.

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 number of tokens, ensuring stable and predictable pricing, without worrying about potential premiums in the future.

As SuiNS continues to develop new features to enhance the value of Web3 identification services, the utility of NS Token will also expand. This provides community members with more ways to actively participate in the development of SuiNS, drive innovation, and create an ecosystem that serves users in the long term.

The ultimate goal of SuiNS is to become a fully decentralized Web3 domain service. In this process, NS Token holders will gain a voice in the evolution of the protocol, influencing the development direction and strategic decisions of SuiNS through governance voting. This not only hands governance power directly to users but also closely aligns the development of SuiNS with community interests, laying a solid foundation for the joint development and innovation of Web3 identification.

By actively participating and contributing, users can help shape the future of SuiNS, driving it to become a leading identification management solution in the Web3 ecosystem. As the platform continues to evolve, NS Token will bring increasing practical value to community members, enabling them to directly participate in important decisions that impact the future of the protocol.