What is Sui Name Service (NS)?

Deep Dive

1. Purpose & Value Proposition

SuiNS solves the problem of unwieldy blockchain addresses by creating intuitive, memorable names (like payments.company.sui). This simplifies sending/receiving crypto, interacting with dApps, and managing subdomains for organizations. By masking public addresses behind names, it adds privacy while maintaining blockchain transparency.

2. Technology & Architecture

Built on Sui’s high-throughput blockchain, SuiNS uses smart contracts for decentralized, on-chain name registration. Each name is an NFT, ensuring ownership is transferable and verifiable. Subdomains allow hierarchical structuring (e.g., support.project.sui), and integration with Sui dApps (like gaming platform SuiPlay) enables seamless logins via names.

3. Tokenomics & Governance

The $NS token powers governance via a DAO, where staking grants voting rights. Recent upgrades mandate staking for proposal participation, with rewards tied to lock-up durations (up to 3x voting power for 12-month locks). A buyback-and-burn mechanism uses 80% of protocol fees to reduce supply, incentivizing long-term holding (SuiNS DAO).

Conclusion

Sui Name Service reimagines blockchain usability by merging human-readable naming with NFT ownership and community-driven governance. As it expands into SocialFi and auctions, how will its identity layer evolve to bridge Web2 and Web3 user experiences?