NewEconoLabs (NEL) has announced that its NEO Name Services (NNS) will launch its MainNet at 00:00 (GMT +8) on Tuesday, October 9th. NNS is an extensible domain name service built on top of the NEO platform, which will offer domain names that end in “.neo”. To show support for NNS users and testers over the past few months, there will be a two-week domain name mining period following the MainNet launch.
Domain name mining will provide rewards to participants who have auctioned for (and won) a domain name via NNS. The successful participant will be rewarded with an equivalent amount of NNS tokens as the amount of GAS spent to purchase the domain name. The domain name mining period will be open from October 9th through October 22nd. Rewards will vary between two 6-day periods.
During the time period of October 9th through the 15th, domain name winners will be rewarded with 70 NNC tokens for each GAS spent to acquire a domain name through auction.
During the time period of October 16th through the 22nd, domain name winners will be rewarded with 50 NNC tokens for each GAS spent to acquire a domain name through auction.
NEL has stated there will be no more than 10% of the NNC token supply (100 million) distributed to domain name mining activities. If there are leftover NNC tokens after October 22nd, they will be locked up.
NNC rewards will be distributed after the domain name mining period has closed.
For more information about NewEconoLabs or NEO Name Service visit the links below.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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