web tester and node operator.
It's about using the historically revolutionary technology that Sui is for a commercial purpose that consumers can actually use. The $SNS is so focused on gaming because it is the parallel most natural for crypto-currency to break into. People who use games are more computer-savvy than regular consumers and people who use games are already familiar with practical use cases for crypto-concepts - csgo skins as NFTs, etc.
At the $SNS, we seek to build a community-owned Sui Name Service that will act as your digital identity for crypto gaming services and products, or as I like to call it - Gmail for Crypto Gaming. Right now, we're starting out as a name service for Sui, but our goal is to create an eco-system of products on Sui that you can access via your web browser by the ".sui" top-level domain - each ".sui" registration will control its equivalent ".sui" TLD as well.
Epic Games? Blizzard? Steam? These all serve as game launchers and marketplaces to some extent. What do they all have in common? A profile system on each of them where you can message friends, view their inventories of skins / in-game items and achievements and send/confirm trades. All of these things would be so natural to build on Sui. And our name service will be that digital identity platform. Our vision is for 5+ years, but we will realize it... and we want you to be a part of the process as we do it.
So how do you get involved?
Register your own domain, be active in the discord, and engage with our tweets. We're looking at all of these things and honestly, that's all it takes to be involved in this vision right now. It may get a little more rewarding as we get to governance [trust ;)], but hop on the ship and have a good time, and we'll be happy to have you!
GOVERNANCE
THIS IS DEMOCRACY.
We are going to reward all of the people who have supported us thus far and helped make the $SNS a reality - the community. In this stage, the community will also receive real power, however, this will be done in a wise-owl way to ensure that our token has genuine value yet the team behind the $SNS can also ensure this power is not misused by bad actors within the community.
We believe $ENS is the greatest example of a DAO-based governance token release that has proven successful long-term. No other community has supported a project like $ENS and worked to keep it successful while also keeping the token price fairly stable. For this reason, we seek to adopt an airdrop-like release for $SNS token to reward the people who have actually held $SNS domains and used our product/service, and they should have the greatest allocation amongst the release.
Currently, as of Friday, July 22, 2022, this is the goal for the release. I have considered this for quite some time and believe this is the most successful way to release governance for a project successfully given its size.
1.There will be 100M total $SNS tokens and they will be capped at this amount - forever.
2.50% of the 100m supply of $SNS tokens will be locked at release. These tokens will be controlled by the $SNS parent company SolNames LLC.
3.The 50% of the token supply at release will be distributed as follows
1.25% to the community (2.5% exclusively allocated as extra for whitelist participants)
2.10% to the parent company as an investment
3.15% to the founding team and active contributors - discord, valuable contributions, etc (48-month vesting schedules)
4.Tokens will eventually receive dividends from $SNS-owned products, creating a REAL utility for long-term ownership. Dividends will be based on a % of specific $SNS product profits. The exact distribution is yet to be determined, however, this is a personal goal of the team to create real value for the community.
This system of checks and balances ensures that the company retains certain control to protect consumers and is able to remain profitable while the community also receives benefits from the company and helps drive direction. Profitability is important as it will ensure that we can stay competitive moving forward. The $ENS non-profit model is great, however, it is more difficult to be competitive in this industry while retaining that approach. We can do the most amount of good with a smart profitable approach.
SC : sns.domains
It's about using the historically revolutionary technology that Sui is for a commercial purpose that consumers can actually use. The $SNS is so focused on gaming because it is the parallel most natural for crypto-currency to break into. People who use games are more computer-savvy than regular consumers and people who use games are already familiar with practical use cases for crypto-concepts - csgo skins as NFTs, etc.
At the $SNS, we seek to build a community-owned Sui Name Service that will act as your digital identity for crypto gaming services and products, or as I like to call it - Gmail for Crypto Gaming. Right now, we're starting out as a name service for Sui, but our goal is to create an eco-system of products on Sui that you can access via your web browser by the ".sui" top-level domain - each ".sui" registration will control its equivalent ".sui" TLD as well.
Epic Games? Blizzard? Steam? These all serve as game launchers and marketplaces to some extent. What do they all have in common? A profile system on each of them where you can message friends, view their inventories of skins / in-game items and achievements and send/confirm trades. All of these things would be so natural to build on Sui. And our name service will be that digital identity platform. Our vision is for 5+ years, but we will realize it... and we want you to be a part of the process as we do it.
So how do you get involved?
Register your own domain, be active in the discord, and engage with our tweets. We're looking at all of these things and honestly, that's all it takes to be involved in this vision right now. It may get a little more rewarding as we get to governance [trust ;)], but hop on the ship and have a good time, and we'll be happy to have you!
GOVERNANCE
THIS IS DEMOCRACY.
We are going to reward all of the people who have supported us thus far and helped make the $SNS a reality - the community. In this stage, the community will also receive real power, however, this will be done in a wise-owl way to ensure that our token has genuine value yet the team behind the $SNS can also ensure this power is not misused by bad actors within the community.
We believe $ENS is the greatest example of a DAO-based governance token release that has proven successful long-term. No other community has supported a project like $ENS and worked to keep it successful while also keeping the token price fairly stable. For this reason, we seek to adopt an airdrop-like release for $SNS token to reward the people who have actually held $SNS domains and used our product/service, and they should have the greatest allocation amongst the release.
Currently, as of Friday, July 22, 2022, this is the goal for the release. I have considered this for quite some time and believe this is the most successful way to release governance for a project successfully given its size.
1.There will be 100M total $SNS tokens and they will be capped at this amount - forever.
2.50% of the 100m supply of $SNS tokens will be locked at release. These tokens will be controlled by the $SNS parent company SolNames LLC.
3.The 50% of the token supply at release will be distributed as follows
1.25% to the community (2.5% exclusively allocated as extra for whitelist participants)
2.10% to the parent company as an investment
3.15% to the founding team and active contributors - discord, valuable contributions, etc (48-month vesting schedules)
4.Tokens will eventually receive dividends from $SNS-owned products, creating a REAL utility for long-term ownership. Dividends will be based on a % of specific $SNS product profits. The exact distribution is yet to be determined, however, this is a personal goal of the team to create real value for the community.
This system of checks and balances ensures that the company retains certain control to protect consumers and is able to remain profitable while the community also receives benefits from the company and helps drive direction. Profitability is important as it will ensure that we can stay competitive moving forward. The $ENS non-profit model is great, however, it is more difficult to be competitive in this industry while retaining that approach. We can do the most amount of good with a smart profitable approach.
SC : sns.domains
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