Sui's decentralized digital identity service SuiNS has completed its pre-seed funding round, with participation from Mysten Labs

ChainCatcher news, the decentralized digital identity service in the Sui ecosystem, Sui Name Service (SuiNS), has completed its pre-seed funding round with participation from Mysten Labs, although the specific amount has not been disclosed. The MVP DApp is expected to be launched on Sui in November, allowing users to experience its features and provide feedback. At that time, mechanisms and incentive frameworks will be established to prevent or eliminate domain name squatters, with no whitelist or preferential treatment.

It is reported that the team is establishing an auction contract that allows anyone to participate in domain name registration auctions simultaneously. Additionally, the SuiNS team will collaborate with established protocols and major enterprises to ensure that trademarks and known entities (such as Ethereum, Solana, etc.) retain their domain names on the platform. (source link)