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<h4>Sui is gearing up for a hot September. It’s actually called Suitember! It’s part of the Sui Summer. One of the ecosystem projects that stands out is SuiNS. This is Sui’s own name service. The protocol is rather busy at the moment. It has plenty of new developments going on. This includes the possibility of a second airdrop.</h4> 
So, let’s take a look at what is going on at SuiNS. 
<h5>A Decentralized SuiNS</h5> 
One of the big news announcements is that SuiNS is becoming decentralized. This means that $NS token holders can take part in governance. They will have a say in the future direction of the protocol. The governance rewards also set SuiNS apart from any other name service. That includes ENS. The reason is that there are governance rewards. Furthermore, there are no multisig holders’ updates. Instead, updates happen through a decentralized system. 
The voting system will have a weighted system in place. In other words, the more tokens you hold, the more weight your vote has. You can increase your voting weight by staking your $NS tokens. Your voting power increases by 10% each month that you stake your $NS. Each $NS token equals 1 vote. So, if you stake 1 $NS for 1 month, your voting weight went from 1 to 1.1. After 2 months, your voting power goes up to 1.21. Staking periods range from 1 to 12 months. You can also check out <a href="https://www.altcoinbuzz.io/product-release/suins-the-sui-name-service-becomes-decentralized/" target="_blank" rel="noopener">our previous article</a> about SuiNS becoming decentralized. We also had an <a href="https://www.altcoinbuzz.io/product-release/introducing-sui-name-service/" target="_blank" rel="noopener">introductory article</a> about SuiNS. 
During the voting process, you can allocate a percentage of your $NS holdings with which you vote. During the voting duration, the smart contract will lock your tokens. Each voting process will also have an $NS airdrop or token distribution. The SuiNS Foundation will set the number of tokens to be distributed for each vote. Initially, the community treasury dedicated 5% to voting rewards. You will receive these rewards at the end of each voting round. See the picture below. 
<img decoding="async" class="aligncenter wp-image-149570 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-1024x463.jpg" alt="Tokenomics" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-1024x463.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-300x136.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-768x348.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-1536x695.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-928x420.jpg 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-696x315.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_-1068x483.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-538-NS-Tokenomics-token.suins_.io_.jpg 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://token.suins.io/" target="_blank" rel="noopener">Tokenomics $NS</a> 
<h5>The $NS Token</h5> 
The launch of the $NS token will be on 10th September. There will be a total of 500 million $NS tokens. The distribution is as follows. 
<img decoding="async" class="aligncenter wp-image-149569 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-1024x463.jpg" alt="SuiNS tokenomics" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-1024x463.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-300x136.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-768x348.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-1536x695.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-928x420.jpg 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-696x315.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_-1068x483.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-537-NS-Tokenomics-token.suins_.io_.jpg 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://token.suins.io/" target="_blank" rel="noopener">Tokenomics $NS</a> 
<ul> 
 <li>Treasury — 57%. This is, for example, to fund grants. The SuiNS Foundation oversees this treasury. However, the SuiNS Foundation can’t use its treasury tokens to vote. This ultimately results in a clean and fair voting process. $NS token holders will control 22% of the treasury through voting. The SuiNS Foundation looks after the other 35% and administers these.</li> 
 <li>Core contributors and early backers — 28%.</li> 
 <li>Active community members — 10%. For those who interact in a meaningful and positive way with the platform. For example, by owning SuiNS names.</li> 
 <li>Governance rewards — 5%. As explained above.</li> 
</ul> 
Now, SuiNS name holder already received an airdrop. For example, I received an airdrop of 330 $NS. This is in the form of a soul-bound NFT. In other words, I can’t sell or transfer this NFT. This airdrop is truly mine. It was for a 5-plus digit name. 3-digit and 4-digit names received bigger airdrops. There’s a lot of speculation going on that there will be a second airdrop round for holders. 
<img decoding="async" class="aligncenter wp-image-149568 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/Screenshot-2024-09-02-141912-1.jpg" alt="SuiNS airdrop" width="449" height="582" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/Screenshot-2024-09-02-141912-1.jpg 449w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/Screenshot-2024-09-02-141912-1-231x300.jpg 231w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/Screenshot-2024-09-02-141912-1-324x420.jpg 324w" sizes="(max-width: 449px) 100vw, 449px"> 
Source: <a href="https://chromewebstore.google.com/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil" target="_blank" rel="noopener">Sui Wallet</a> 
Currently, you can get a 3-digit name with a 30% discount if you already have a SuiNS name. Holding certain NFT collections can give you a 20% discount. So, a 3-digit name is 500 $SUI, but with the 30% discount, you can have it for 350 $SUI. With the current $SUI prices below 80 cents, this turns into a good deal. This deal is valid until 6th September. See the picture below. 
<img decoding="async" class="aligncenter wp-image-149565 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-1024x463.png" alt="SuiNS" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-1024x463.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-300x136.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-768x348.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-1536x695.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-928x420.png 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-696x315.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_-1068x483.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/FireShot-Pro-Webpage-Capture-539-Register-712.sui-I-Sui-Name-Service-suins.io_.png 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: SuiNS website 
<h5>Sui Airdrop Season</h5> 
So, we already discussed two ways to get potential $NS airdrops. However, there’s more going on in the Sui ecosystem. Their airdrop season is in full swing. Here are some more ideas on how you can qualify for potential Sui ecosystem airdrops. 
$NS&nbsp;— The best chance of getting an airdrop is to take part in governance and own a SuiNS name. Who knows what kind of airdrops you may qualify for in the future. 
<blockquote class="twitter-tweet"> 
 Ever wanted to own a 3 digit SuiNS name? 
 Enjoy a 30% discount to become a 3D holder with access to the 1kclub Discord channel and a free name@1kclub subname 
 Join the Discord to learn more <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/l3GCYAAOjD">pic.twitter.com/l3GCYAAOjD</a> 
 — Sui Name Service (SuiNS) (@SuiNSdapp) <a href="https://twitter.com/SuiNSdapp/status/1829564930275627200?ref_src=twsrc%5Etfw">August 30, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<a href="https://www.suilink.io/suilinks">SuiLink</a> — Bridge from ETH or SOL with SuiLink. You can easily set up soul-bound NFTs on SuiLink with your Ethereum or Solana addresses. 
DeepBook Protocol — Use their testnet and provide feedback. You have less than a week left to do so. See the X post below. 
There’s more to come, so keep an eye out for Sui’s social media and our updates. 
<blockquote class="twitter-tweet"> 
 1/n 
 DeepBook V3 Testnet is here!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f973.png" alt="🥳" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 The largest-ever upgrade to DeepBook provides access to deep liquidity for every app building on Sui and enables the creation of DeFi products that are simply not feasible on any other blockchain. Are you ready? It’s time to <a href="https://twitter.com/hashtag/GoDeep?src=hash&amp;ref_src=twsrc%5Etfw">#GoDeep</a><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/NeAfNxp9mI">pic.twitter.com/NeAfNxp9mI</a> 
 — DeepBook Protocol on Sui (@DeepBookonSui) <a href="https://twitter.com/DeepBookonSui/status/1826308342362378584?ref_src=twsrc%5Etfw">August 21, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h5>Conclusion</h5> 
September turned into Suitember. The Sui summer is by popular demand extended. There are various ways to get your hands on potential Sui ecosystem airdrops. 
For instance, SuiNS is launching its $NS token on 10th September. By holding the token and taking part in governance, you can qualify for airdrops. Securing and owning a SuiNS name will also increase your potential for an airdrop. However, DeepBook and SuiLink are also options to look into. 
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Disclaimer 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. 
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Sui. 
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The post <a href="https://www.altcoinbuzz.io/product-release/suins-is-it-airdrop-season/">SuiNS, Is It Airdrop Season?</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

SuiNS, Is It Airdrop Season?

Altcoin Buzz

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