Sui Name Service - a community-owned decentralized identity platform. SNS is a project that allows users to register their domain names on the Sui ecosystem. The goal is to build a fair and distributed name service that gives equal access to all and provides a unique experience.
For updates, the project has now released Devnet and the prize is up to $10,000.
2. Main features
2.1 A gamified Name Service
The goal is to make it possible for users to register a domain name that can be used in place of an unfriendly wallet address.
Solana’s premiere name service is run by Bonfida, yet it is simply a static copy of $ENS. The only difference is the “.sol” ending and that Bonfida simply charges a fixed higher-cost price than $ENS’s yearly pricing. This model makes the unsustainable project long-term and unfortunately, it did not take advantage of Solana’s tech. So what makes the SNS protocol unique?
The difference lies in the vision, the team is trying to build a protocol that is truly community-owned, creating a strong emphasis on "community" all the time.
2.2 A decentralized profile platform
Each ".sui" domain owner will at this time have a web3 profile, which is a user-friendly approach to show off your NFTs or PFP, link social media, and more features to be revealed.
→ This will allow partners to easily integrate services with a variety of different applications and finally create the necessary infrastructure for some companies to create social-based products.
- Payments by SNS
Payments are here to provide a standard payment platform across the Sui ecosystem. No “.sui” domain is necessary. Anyone can create an SNS Profile and use SNS services, free of charge.
- Encrypted messenger
Imagine a helpful plugin that allows you to communicate directly with your NFT contacts by using their ".sui" names. Completely undetectable and encrypted.
Currently, there is not much information about this service. Maybe in the future, there will be more ideas on how to extend this social application.
3. Main goals
SNS has three main goals
- Identity: Every “.SUI” domain will have an NFT. This NFT will have properties that will make it available as a profile as well.
- Infrastructure: Every “.SUI” domain will eventually control its equivalent web2 domain DNS.
- Products: Every “.SUI” domain will be able to serve as a placeholder for any SUI public address. This will make a wide range of applications, available with usernames — think SUI Messaging, Social Media, etc.
4. Tokenomics Plan
- 25% Airdropped to Community
- 75% Core Contributors / Token Treasury (yet to be divided)
- Total Token Supply: 100 million.
Intended Release Date: Q3 2023 — domain registration milestones.
5. Token Use Cases
The $SNS token will be used to vote on the use of community funds, feature changes, or anything related to the SNS products/direction.
This will keep ensure that feature updates happen quickly, but also give token holders an outlet to make changes in the products and receive real ownership/equity.
The $SNS was founded by Anthony (@mistertoucan). Before this, he studied CS at Georgetown University and grew two e-Commerce based SAAS businesses to 15k+ merchants. He also loves web3 and is intent on changing the game.
SNS only cooperates with community priority projects that have been moderated on Sui.
The team aims to:
- Build up the $SNS community;
- Release the name service & resolver extension;
- Raise enough funds to continue development.
Sui Mainnet release
As for Sui Mainnet release, the project will be having a 2-part Community-First release.
- During part 1, everyone who received a whitelisted (Stork) role will have exclusive access to register their Sui domain name before everyone else.
- In part 2, the website will open to the community and everyone will be able to register whatever domains they so choose.
All domains will be resellable as NFTs on all major Sui NFT marketplaces.
9. Official links
- Company: StorkLab, LLC
- Partnerships: [email protected]
- Official Website: sns.domains
- Twitter: @snsstork
- Discord: discord.gg/snsdomains
- Crew3: snsdomains.crew3.xyz
- Medium: blog.sns.domains
- GitHub: github.com/snsdomains
A special feature of the project is that the management will be run by the community through $SNS DAO. The project commits 25% of SNS to be paid to early users, community members, and contributors. Currently, the project is in Devnet stage.
Above is all information about the Sui Name Service project. DAO has a lot of potentials and the project wants to build a new type of company, focused on helping individuals. Therefore, SNS is a project that has been receiving the attention of many people and is expected to thrive in the future.
If you want to know more information about Sui Blockchain Dapps, read on: Top 10 Highlighted Dapps On Sui Blockchain
You can participate in the Devnet experience here.
Be sure to check out Suipiens website and social media channels to stay up-to-date on all things about Sui Blockchain!