Question 1

What are SuiNS (NS)?

Accepted Answer

SuiNS is a name service on the Sui chain: it uses human-readable names to help users identify on-chain identities and send and receive through addresses in supported contexts. NS is SuiNS's governance token, and the name service itself should be understood separately from NS's governance use. Owning NS does not automatically entitle a user to a name; name registration, ownership, and duration follow the rules of the name service, while NS's primary roles are participation in the governance and name-discount mechanisms described on its tokenomics page.

Question 2

What are SuiNS names used for?

Accepted Answer

SuiNS names replace the need to directly remember long addresses with human-readable identifiers, and can help display identities and send and receive assets in on-chain interactions that support name resolution. Their value lies in enabling participants to use the same name-resolution rules, rather than the names themselves changing underlying addresses or transaction-settlement rules. Names can be used during their validity period and can be gifted or sold according to the rules; however, whether recipients or applications can correctly resolve a name still depends on their support for SuiNS.

Question 3

What is the main purpose of NS?

Accepted Answer

NS's core use is participation in SuiNS governance: holders can vote on important protocol matters. Voting provides a right to participate in governance decisions, rather than a promise of project revenue, company equity, or fixed returns. An effective governance outcome must also follow the current proposal and governance processes; therefore, NS holdings alone cannot show that a proposal will necessarily pass or be implemented.

Question 4

Why must NS be locked when voting, and how does the lock period affect weight?

Accepted Answer

SuiNS governance voting requires NS used for voting to be locked during the voting period. Locking prevents the same tokens from being freely transferred or repeatedly used for conflicting votes during that period, thereby linking voting power to a verifiable commitment period. Voting weight is also related to the lock duration: a longer lock period can increase weight. This does not mean the token quantity is changed, nor does it represent a fixed return; it only increases, under the governance rules, the influence of that locked voting position in the relevant vote.

Question 5

How are NS allocation and unlocking arranged?

Accepted Answer

NS has a total supply of 500 million tokens. The official allocation is: 57% treasury, 28% core contributors, 10% community airdrop, and 5% governance rewards. These percentages describe the initial division of the total supply across different uses and participants; they are not equivalent to circulating supply at a given time. Unlock schedules affect when each allocation category becomes available. Investor and team tokens unlock linearly over 2 years after a 1-year cliff; Mysten Labs' allocation unlocks 1% at generation, with the remainder unlocking linearly over 4 years. A cliff means tokens are not released gradually on a linear schedule before that phase ends, while linear unlocking releases them gradually over the relevant period.

Question 6

How can NS be used to purchase SuiNS names?

Accepted Answer

NS can be used to purchase SuiNS names at a discount. The discount changes the applicable price condition when purchasing a name; it does not automatically exchange NS for a name, nor does holding NS mean all registration costs are waived. Whether a user can use this discount and exactly how it applies are subject to the name-service and tokenomics rules in force at the time of purchase.

Question 7

What is received for participating in governance voting?

Accepted Answer

Governance rewards are not fixed interest. The official mechanism distributes a proposal's governance rewards according to each participant's proportion of voting weight in that proposal; therefore, rewards first depend on whether that proposal has such a reward and then on a participant's weight relative to other voters. The lock period affects weight and may therefore affect the share distributed by weight; however, this does not guarantee that every vote has rewards or that a holder receives a fixed amount of NS.

Question 8

Do SuiNS names need to be renewed?

Accepted Answer

A SuiNS registration NFT obtained through auction is valid for 1 year by default. After the validity period expires, it enters a 30-day grace period; to continue holding and using the name, the holder needs to renew it according to the rules. The validity period and grace period distinguish normal renewal from the handling stage after expiry. A name NFT can be transferred during its validity period, but transfer does not eliminate the name's own expiry and renewal rules.

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