Sui Name Service DAO
Company Transparency / Vision
I’m here to explain how the Sui Name Service will be a company for the people by the people. Exclusively on Sui.
Crypto is a force for good. And we intend to use it to change many people’s lives in a positive way. In light of the FTX situation, we believe its appropriate for users to view companies in the space skeptically.
So for that reason, I’m detailing the entire structure of the Sui Name Service and the company behind it, StorkLabs LLC.
And we’re doing this before we even release our software because…
“One cannot build a big house without a good foundation”
That’s our philosophy.
What is StorkLabs?
StorkLabs LLC is a company bridging the gap between web2 and web3 through traditional industries. Our main idea is that the projects on-chain make the chains. Blockchain technology could be excellent, but without good projects, mass adoption will never come.
That’s where we come in.
We seek to build consumer-facing software products on Sui. Our software’s focus is SAAS-based, excellent UI/UX, themes, and DAO-ownership. Our goal is for every project to be owned via a DAO and more importantly, the people that support it. This is all based on the core belief:
Protocols ought to be owned by the people that use them.
Centralization is not web3. We are.
Sui Name Service
The Sui Name Service is the first of our software products on Sui. It fills the void for Sui domain names and on-chain identity. Our focus is gaming, and the goal is for the project to be owned by the community.
It is no secret that the Sui Name Service will have a DAO, under the token $SNS. The Sui Name Service will be registered as a legal entity off-shore and be owned through the $SNS token.
StorkLabs LLC will be the exclusive developer of the Sui Name Service and the $SNS token will be used to vote on use of community funds, feature changes, or anything related to the SNS-products / direction. This will keep ensure that feature updates happen quickly, but also give token holders an outlet to make changes in the products and receive real ownership / equity.
$SNS Tokenomics Plan (Current):
25%+ Airdropped to Community
75% Core Contributors / Token Treasury (yet to be divided)
Total Token Supply: 100million.
Intended Release Date: Q3 2023 — domain registration milestones.
And, yes, that’s right.
25%+ Airdropped to Community.
Have you ever grinded for a project and got nothing? We’re here to change that. If you support us, we’ll support you. The Sui Name Service is our first community-owned protocol. Our DAO will be based on domain registration and engagement.
Get involved in the SNS today.. and earn your place in the DAO.
We build for the People by the People.
A Name Service by the People for the People
DNS which controls the internet is a nonprofit, yet it is controlled by a select group of people. We believe the Sui Name Service, which will be the pillar of Crypto Gaming and the Sui Ecosystem, should be controlled by the people that use it.
For this reason, our plan intends to have it ownership distributed in the Sui Name Service back to the community. From a financial perspective, StorkLabs LLC will always be separated from the Name Service and can take on investors, however, the Sui Name Service will be owned by the people — not venture capitalists.
StorkLabs LLC will also be completely transparent with its fundraising needs. As of right now, StorkLabs LLC equity is retained by myself.
I come from a SAAS / eCommerce background and I LOVE web3. We’re here to build the future… And I intend to hold control over StorkLabs LLC. Any funds raised / equities distributed will be always made publicly and for the purpose of development / expansion.
A new Standard for Web3
My goal is to set a new standard for businesses on web3 through StorkLabs and the products we make. This business model has never been done before, and it really really excites me.
Welcome to history in the making.
Want to get more involved? Simply follow us on twitter and stay active in our community. Also: Crew3 coming soon 👀