The post SuiNS Unveils NS Token Distribution Plan to Empower Community Governance appeared on BitcoinEthereumNews.com.

James Ding Nov 01, 2024 18:49 SuiNS announces its NS token distribution strategy, focusing on decentralization and community engagement. The plan includes allocations for treasury, contributors, and governance rewards. SuiNS has revealed a comprehensive plan for the distribution of its NS tokens, designed to enhance the platform’s decentralization and empower community governance. According to the Sui Foundation, this distribution strategy is a cornerstone of their long-term vision to ensure the sustainability and growth of the SuiNS ecosystem. Strategic Allocation for Long-term Viability The NS token distribution plan involves a total issuance of 500 million tokens, with a significant portion dedicated to the community and the SuiNS Foundation treasuries. Specifically, 57% of the tokens will be allocated to these treasuries, with 22% directly controlled by token holders through governance voting, ensuring that the users have a decisive role in shaping the platform’s future. The remaining 35% will be managed by the SuiNS Foundation to support the protocol’s operations, including infrastructure, marketing, and legal expenses. The foundation also plans to involve the community in decisions regarding the use of treasury funds, balancing operational needs with community engagement. Incentives for Early Contributors and Community Engagement In recognition of the vital role played by early supporters, 10% of the token supply is earmarked for a community airdrop. This initiative targets those who have actively contributed to the platform’s success, offering them NFTs that represent claims to specific amounts of tokens. By doing so, SuiNS aims to keep the community engaged and invested in the platform’s evolution. Additionally, 28% of the tokens are allocated to core contributors and early backers, rewarding the team and investors who have been instrumental in the development of SuiNS. These tokens will be released over a three-year period, ensuring alignment with the platform’s long-term goals. Encouraging Active Governance Participation To…

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Filed under: News - @ November 2, 2024 12:14 am