Sui Name Service
Crypto Overview
Purpose and Utility
Sui Name Service (NS) is a naming protocol built on the Sui blockchain that allows users to register and manage human-readable domain names that map to Sui addresses and other resources. It serves as the native name service for the Sui ecosystem, similar to how DNS works for the internet or ENS for Ethereum.
Business Model
The protocol generates revenue through domain name registration and renewal fees. Users can register names, create subdomains, and trade them on secondary markets. This model aligns with halal principles as it provides a clear utility service and involves the exchange of real digital assets.
Real-World Adoption
As a relatively new protocol on the Sui blockchain, adoption is still in early stages. The service is being integrated into various Sui ecosystem applications and wallets to provide name resolution services.
Development Activity
The project maintains active development with regular updates to the protocol. The team has implemented core functionality including registration, management, and resolution of domain names.
Token Distribution and Vesting
The NS token serves as both a governance token for the protocol and a utility token for certain premium features. Detailed information about token distribution and vesting schedules is limited, but the token appears to have legitimate utility within the ecosystem.
Crypto Impact
To assign a comfort level investing in Sui Name Service from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sui Name Service.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.