Cryptocurrencies are at an important crossroads. It’s one of the most innovative technologies of our generation, yet less than 1% of real-world use cases reach its full potential. As of now, most industries are rooted in speculation and NFTs. Gaming was mentioned, but until a significant game gets consumer attention outside of Web3, it remains insignificant.
Solana’s advanced name service is powered by Bonfida, but it’s just a static copy of $ENS. Anything we can do with $ENS, wecan also do with Bonfida. The only difference is the .sol extension, and Bonfida just charges a fixed fixed price above the $ENS annual price. This model made the project unsustainable in the long run, and unfortunately, it didn’t leverage Solana’s technology — no new products, no future vision, no social integration, no gaming partners, etc. SNS.DOMAINS hopes to change this situation by advancing the future of vision and ease of use. So they spent the next 6 months working on name services, developing our product and getting ready to launch.

Why Sui?

Sui is the world’s first blockchain. Its technology is as innovative as it was when SOL was released, but on a much larger scale. The idea that Sui can scale out and process transactions in parallel makes it one of the most promising concepts. Also, from a business standpoint, it has elite engineering and business development. Recognizing these factors, we decided to completely switch our naming service from Solana to Sui. Sui is also in a wonderful place. It is a blank canvas, and they will help paint of the most beautiful of portraits.

Sui Names

Web3 is a protocol built on top of web2. Web2 is going nowhere. Google, the search engine, it’s all here and will continue to play a big role in the future. However, how we interact with web3 (especially from a consumer perspective) is still a long way off. At SNS.DOMAINS, our goal is to provide the critical infrastructure for the Sui ecosystem to support gaming and other industries that will eventually expand to Sui.
Storklabs company currently has three main goals :
1. Identity — Each “.SUI” domain name has an NFT. This NFT has properties that also make it usable as a configuration file.
2. Infrastructure — Each “.SUI” domain will eventually control the DNS corresponding to the web2 domain.
3. Product — Any “.SUI” domain can be used as a wildcard for any public SUI address. This makes usernames available to a wide range of applications — think SUI messaging, social media, etc.
These goals allow their service to integrate with almost any application on Sui without getting into too many integration-specific details that would make their project non-transferable to Sui or other areas of the game.

Sui Name Service DAO

Cryptocurrencies are a force for good. They want to use it to positively change the lives of many people. Given the situation with FTX, they think users are justified in being skeptical of companies in this space. For this reason, they describe the entire structure of the Sui name service and the company behind it, StorkLabs LLC.

What is StorkLabs?

StorkLabs LLC is a company bridging the gap between web2 and web3 through traditional industries. Our basic idea is that the items in the chain form the chain. Blockchain technology can be brilliant, but mass adoption will never happen without good projects.
StorkLabs LLC strive to develop consumer-facing software products on Sui. The focus of our software is SAAS based, great UI/UX, theming and DAO ownership. StorkLabs goal is for every project to be owned by a DAO, and more importantly, by the people who support it.

Sui Name Service

The Sui Name Service is StorkLabs first software product at Sui. Filling the gap between Sui domain name and on-chain identity. They focus is games and the goal is that the project belongs to the community.
As we all know, the Sui name service will have a DAO under the $SNS token. Sui Name Service is registered as a legal entity abroad and is owned by the $SNS token. StorkLabs LLC will be the exclusive developer of the Sui naming service, and $SNS tokens will be used to vote on usage of community funds, feature changes, or anything related to SNS product/direction.
This will continue to ensure rapid feature updates while also enabling token holders to make changes to the product and gain true ownership/equity. $SNS Token Economics Plan (Current): 25%+ airdrop to the community, 75% Core Contributors / Token Treasury (to be split). Total token supply: 100 million.

Human-to-Human Naming Service

The DNS that controls the Internet is a non-profit organization, but controlled by a select group of people. Storklabs believe that the Sui name service will be the backbone of crypto gaming and the Sui ecosystem and should be controlled by those who use it.
Therefore, Storklabs plan is to reassign ownership of the Sui naming service to the community. From a financial standpoint, StorkLabs LLC will always be separate from the name service and be able to attract investors, however, the Sui name service will be owned by the people, not venture capitalists.
Coming from a SAAS/eCommerce background. Storklabs are here to create the future. The team intend to take control of StorkLabs LLC. All funds raised/shares allocated are always public and used for development/expansion.
Website: sns.domains
Discord: discord.gg/snsdomains
Twitter: twitter.com/snsstork