SuiNS Unveils NS Token Distribution Plan to Empower Community Governance

SuiNS announces its NS token distribution strategy, focusing on decentralization and community engagement. The plan includes allocations for treasury, contributors, and governance rewards.

Sui Names Service (SuiNS) has announced its NS token distribution strategy, prioritizing decentralization and community engagement. The plan includes allocations for treasury, contributors, and governance rewards.

Sui Names Service (SuiNS) has announced its NS token distribution plan, revealing a total supply of 500 million tokens. The distribution strategy is designed to empower the community and ensure the long-term sustainability of the SuiNS platform.

According to the Sui Foundation, the tokens will be allocated as follows:

Community Treasury: 22%

SuiNS Foundation Treasury: 35%

Core Contributors and Early Backers: 28%

Community Airdrop: 10%

Governance Rewards: 5%

The tokens allocated to the community treasury will be directly controlled by token holders through governance voting, enabling them to allocate funds for various initiatives and significantly impacting the platform's future direction.

The SuiNS Foundation will utilize its allocated tokens to cover protocol operations expenses, including infrastructure, marketing, and legal costs. The foundation also plans to involve the community in decisions regarding the use of treasury funds, aiming to strike a balance between operational needs and community engagement.

To reward early supporters for their contributions, SuiNS will conduct a community airdrop, allocating 10% of the token supply for this purpose. Those who actively engage with the platform will be eligible to receive NFTs that represent claims to specific amounts of tokens. This initiative aims to maintain community engagement and contribute to the platform's growth.

Moreover, 28% of the tokens are allocated to core contributors and early backers, rewarding the team and investors who have been involved in the development of SuiNS from its early stages. These tokens will be gradually released over a three-year period, aligning with the platform's long-term goals and ensuring sustained involvement.

To incentivize active participation in governance, SuiNS will allocate 5% of the NS tokens as governance rewards. These tokens will be distributed to holders who engage in voting on governance proposals, ensuring that those contributing to key decisions are compensated for their involvement in shaping the platform's future.

This strategic allocation of NS tokens showcases SuiNS's commitment to decentralization and community empowerment. By rewarding active participation and fostering a decentralized governance structure, SuiNS aims to build a platform that truly reflects the needs and desires of its users.

As this initiative unfolds, SuiNS will continue to introduce new opportunities for its community to influence the platform's trajectory, ensuring that it remains responsive to the evolving needs of its users.

For more information on the NS token distribution plan, you can visit the official announcement on the Sui Foundation's blog.

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