Airdrop season on Sui is keeping up its strong momentum. Last month we saw Deepbook’s $DEEP token launch. This did a 7x in one week. Another one to look forward to is Suilend’s $SEND token. It is possibly launching next month. However, 14th November saw the $NS token launch by SuiNS. That’s the Sui Name Service. Once more, we saw an amazing launch.
So, let’s look at the details of this SuiNS airdrop and token launch.
The SuiNS Airdrop
To qualify for this SuiNS airdrop wasn’t too difficult. All you needed to do was to have a SuiNS name. SuiNS makes 60 digit long crypto wallet addresses human-readable. That’s what a name service provider does. So, for example,
0ef46747a691b02fec0376541ea944e6a214e7e0712e2f6cef62e7899819a6c8cf
You can turn this address into any human-readable format. For example, ‘@camille’, which I picked for one of my addresses.
However, there was one catch, the snapshot took place before June 2024. If you had a 3-digit name, your SuiNS airdrop allocation was bigger. If you held more than one name, your allocation grew again. I had one 7-digit name, which was good for 330 $NS.
On the other hand, some people received airdrops worth $66,000. Their SuiNS airdrop was 97,436 $NS. This wasn’t even at the current ATH of $NS. At launch, the price was $0.79. However, within 5 hours, it reached its current ATH of $3.64. That puts this airdrop at $354k. See the picture below.
Source: X
Other people who had various 3-digit SuiNS names had, for example, 27,678 $NS tokens airdropped. At launch, this was worth $21,000. However, at ATH it went up to $97k. These are some serious airdrops.
Source: X
$NS Token distribution
Out of the 500 million $NS tokens, 10% went to active community members. As SuiNS stated; “For those who interact in a meaningful and positive way with the platform.” For example, by owning SuiNS names. This includes the airdrop. The rest of the tokens are distributed as follows,
- Treasury — 57%. This is, for example, to fund grants. The SuiNS Foundation oversees this treasury. However, the SuiNS Foundation can’t use its treasury tokens to vote. This ultimately results in a clean and fair voting process. $NS token holders will control 22% of the treasury through voting. The SuiNS Foundation looks after the other 35% and administers these.
- Core contributors and early backers — 28%.
- Governance rewards — 5%.
Other Potential Upcoming Sui Airdrops
Other Sui airdrops are still in the pipeline. The Sui airdrop season is far from over. Currently, it looks like Suilend and its $SEND token may be next in line. You can qualify by depositing or borrowing a variety of tokens.
You need to look for the little blue SEND points logo. For example, $sSUI for depositing. You receive SEND points and $sSUI as rewards. However, you can also deposit or borrow $SUI, $USDC, $USDT, $suiETH, or $SOL. Either option will also reward you with SEND points. Various ecosystem projects will also receive a $SEND airdrop. For example, holders of a Prime Machin NFT will also receive such a $SEND airdrop.
I circled the tokens that reward you with SEND points in yellow in the picture below.
Source: Suilend
Conclusion
The Sui ecosystem had another successful and juicy airdrop on 14th November 2024. SuiNS launched its $NS token. Holders of a SuiNS name had soul-bound NFTs airdropped to them around June. Now it was time to cash these NFTs in for $NS tokens. Some people, who held multiple SuiNS names, had massive airdrops. Ranging from $66k, up to $354k.
Be aware that airdrop season on Sui is still ongoing. Next in line is most likely the $SEND token by Suilend.
The current $NS price is 49 cents with a market cap of $76 million. Out of the 500 million max and total supply, currently 150 million circulate.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Sui.
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