- Decentralized SuiNS
- $SN Token
- Sui Airdrop Season
Sui is gearing up for a busy September, known as Suitember, part of the Sui Summer. One standout ecosystem project is SuiNS, Sui’s own name service. The protocol is currently busy with many new developments, including the possibility of a second airdrop.
Decentralized SuiNS
One major announcement is that SuiNS is becoming decentralized. This means $SN token holders can participate in governance and influence the protocol’s future development. The voting system will use a weighted system: the more tokens you have, the more weight your vote carries. Governance rewards set SuiNS apart from other name services, as updates happen through a decentralized system, not by multisig holders. During the voting process, tokens are locked by a smart contract, and $SN token distributions occur at the end of each voting round. Initially, the community treasury dedicated 5% to voting rewards.
$SN Token
The $SN token will launch on September 10th, with a total supply of 500 million tokens. Distribution is as follows: 57% - treasury, 28% - core contributors and early backers, 10% - active community members, and 5% - governance rewards. The SuiNS Foundation, managing the treasury, cannot use their tokens for voting, ensuring a clean voting process. SuiNS name holders have already received an airdrop in the form of soul-bound NFTs.
Sui Airdrop Season
In addition to $SN airdrops, there are many other airdrops happening within the Sui ecosystem. Participants can gain rewards through governance participation, owning a SuiNS name, interacting with DeepBook Protocol for testing and feedback, and using the SuiLink bridge to connect with Ethereum or Solana.
September, or Suitember, looks promising for the Sui ecosystem. Participation and engagement with various protocols and holding tokens can bring significant airdrops and opportunities.
