[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![CryptoJournaal Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1159541595357831170.png) CryptoJournaal [@CryptoJournaal](/creator/twitter/CryptoJournaal) on x 18.5K followers
Created: 2025-07-06 06:41:40 UTC

#SuiNameService ( $NS ) - #Explainer

💡 What is Sui Name Service ( $NS )?

Sui Name Service (SuiNS) is a decentralized naming service built on the Sui blockchain, a fast and scalable Layer-1 blockchain.

The platform allows users to replace complex wallet addresses with simple, readable names, such as "@jan" or "jan.sui", making blockchain interactions more user-friendly.

SuiNS is designed to simplify and secure digital identities within the Sui ecosystem, with applications for individuals, businesses, and decentralized applications (dApps).

It combines ease of use with the benefits of blockchain technology, such as ownership, transparency, and decentralization.

The associated token, $NS, plays a central role in the ecosystem and is used for governance, purchasing names at a discount, and rewarding active community members.

SuiNS aims to enhance the Web3 experience by replacing complex addresses with recognizable and personal identifiers.

#BlockchainIdentity

⚙️ How does Sui Name Service work?

SuiNS operates entirely on-chain using smart contracts on the Sui blockchain, ensuring a secure and decentralized naming service.

Users can register a unique name that represents their wallet address, smart contract, or dApp, making transactions simpler and less error-prone.

The main features of SuiNS are:

🔸 Human-friendly names:

Instead of long addresses like "0xd77861e972e02feb0927611eb934b67a1f9e60782e36cdef61f6779919b6a8cd", users can use a name like "@jan" or "jan.sui", simplifying transactions and reducing errors.

🔸 NFT-based ownership:

Each SuiNS name is issued as a Non-Fungible Token (NFT), giving users full control and ownership. These NFTs can be traded, sold, or transferred.

🔸 Subdomains:

SuiNS supports subdomains, such as helping organizations structure their digital identity and improve communication.

🔸 Decentralized governance:

$NS token holders can vote on protocol decisions, such as updates and treasury allocations, through a transparent, on-chain voting system.

#Web3Innovation

🪙 The role of $NS

The $NS token is essential to the SuiNS ecosystem and has multiple functions:

🔸 Governance:

Holders of $NS tokens can vote on proposals that shape the future of SuiNS, such as protocol upgrades and treasury management. This ensures a community-driven platform.

🔸 Staking:

By staking $NS tokens, users can increase their voting power (up to XX% per month) and earn rewards, encouraging active participation.

🔸 Discount on names:

$NS tokens can be used to purchase SuiNS names at a discount, enhancing platform accessibility.

🔸 Rewards:

Users participating in governance or owning SuiNS names can earn $NS tokens through airdrops and voting rewards, such as the August 2024 airdrop for nameholders.

#Tokenomics

🛠️ Key features of Sui Name Service:

🔸 V2 upgrade:

In June 2024, SuiNS introduced version 2, replacing the ".sui" extension with an "@" prefix (e.g., "@jan") and adding free subdomains, all with low gas fees on Sui.

🔸 Decentralized structure:

SuiNS has no multisig holders; all updates and decisions are made through on-chain governance, providing an unparalleled level of decentralization.

🔸 Integration with dApps:

SuiNS names can be seamlessly integrated into dApps on the Sui blockchain, allowing users to interact with applications via their name instead of a wallet address.

🔸 Airdrop opportunities:

SuiNS rewards active users, such as nameholders and $NS stakers, with airdrops, including the soulbound NFT airdrop of XXX $NS for 5+ character names in 2024.

#SuiEcosystem

📜 History and development:

🔸 Foundation:

SuiNS was launched in 2022 by a team supported by Mysten Labs, aiming to build a user-friendly naming service on the Sui blockchain.

🔸 2023 - Devnet and mainnet:

SuiNS began on the Sui devnet in 2022 and became fully operational with the Sui mainnet launch in 2023, allowing users to register and manage names.

🔸 2024 - Decentralization and $NS launch:

In 2024, SuiNS became decentralized, with the introduction of the $NS token on November XX. This marked a shift to community governance and rewards for active users.

🔸 2025 - Deflationary mechanisms:

In February 2025, SuiNS announced a burn mechanism for protocol fees, making $NS a deflationary token, which could increase its long-term value.

#CryptoHistory

💸 Tokenomics

🔸 Total supply:

The total supply of $NS is XXX million tokens, with an initial circulating supply of XXX million at the token launch in November 2024.

🔸 Distribution:

Treasury: XX% (of which XX% is controlled by token holders via governance).

Core contributors and early backers: 28%.

Active community members: 10%.

Governance rewards: 5%.

🔸 Market capitalization:

With a current price of around $XXXX (April 2025), $NS has a market capitalization of approximately $XXXXX million, ranking around #669 on CoinMarketCap.

#MarketAnalysis

✅ Advantages of Sui Name Service:

🔸 User-friendliness:

SuiNS makes blockchain interactions more accessible by replacing long addresses with simple, recognizable names.

🔸 Decentralized governance:

The platform offers a fully on-chain voting system, giving users direct control over the development of SuiNS.

🔸 Low costs:

Thanks to Sui's low gas fees and the ability to create free subdomains, SuiNS is cost-efficient for users.

⚠️ Disadvantages and challenges:

🔸 Competition:

SuiNS competes with other naming services like Ethereum Name Service (ENS), which already has an established market position.

🔸 Adoption:

The success of SuiNS depends on the broader adoption of the Sui blockchain and Web3 applications.

🔸 Price volatility:

Like many altcoins, $NS experiences price fluctuations, with a drop of XX% from its all-time high of $XXXX.

#AdoptionChallenges

🎯 Conclusion:

Sui Name Service ( $NS ) is a promising project that simplifies digital identities and improves the user experience on the Sui blockchain.

With its decentralized governance, low costs, and innovative features such as subdomains and NFT-based names, SuiNS has the potential to become a key player in the Web3 space.

The deflationary tokenomics and airdrop opportunities make $NS attractive to investors, but success depends on the growth of the Sui ecosystem and wider adoption.

Do your own research before investing, but SuiNS is definitely a project to watch.

#CryptoConclusion

🤝 New Partnership: WEEX Exchange x @CryptoJournaal

We’re excited to announce our official partnership with WEEX — and that means massive rewards for YOU! 💥

💰 New users can claim up to $XXXXXX USDT in total bonuses: 

🔐 XX USDT → secure your account

📥 Up to XXXXX USDT → deposit to futures wallet + start trading

📊 Up to XXXXXX USDT → futures trading volume rewards

🎯 All rewards stack – up to $30K total!

🟡 Use invite code bwbg to activate your bonus

👉

#Exchange #Rewards #Trading #Futures #Leverage

📚 Useful resources and additional information:

Want to dive deeper into the world of #SuiNameService or looking for the latest updates and developments?

These links help you stay informed:

🔹Discord:

🔹Official Website:

🔹X (Twitter): @SuiNSdapp 

#CryptoResources #StayInformed

⚠️ Important note:

🔹 This post is for educational purposes only and is not financial advice!

🔹 Only invest what you are willing to lose:

#Crypto-investments can be volatile, and you may lose part or all of your investment.

🔹 Always do your own research (#DYOR):

Thoroughly research #crypto-assets, platforms, and wallets before investing.

🔹 Understand the risks of volatility:

The value of #cryptocurrencies can change rapidly, so be prepared for price fluctuations.

🔹 Keep your private keys safe:

Losing your private keys may result in losing access to your crypto assets.

🔹 Use reliable platforms:

Make sure to trade crypto on trusted and regulated exchanges or wallets that meet the necessary security standards.

#CryptoRules #CryptoSafety #CryptoRisks #Dyor

![](https://pbs.twimg.com/media/GvJ6tvhWAAAWQsj.jpg)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1941749372053553639/c:line.svg)

**Related Topics**
[Engagements](/topic/interactions)
[blockchain](/topic/blockchain)
[decentralized](/topic/decentralized)
[suins](/topic/suins)
[sui](/topic/sui)
[$ns](/topic/$ns)

[Post Link](https://x.com/CryptoJournaal/status/1941749372053553639)