NewEconoLabs (NEL) has announced an airdrop of their NEO Name Service (NNS) tokens. A snapshot of NEO holders will take place on June 27th, and NNC tokens are planned to airdrop within the following week.

NNS is an extensible domain name service built on top of the NEO platform, which will offer domain names that end in “.neo”. Domain names are purchased with GAS, and users who hold NNC will receive domain name auction income proportionate to the amount of NNC held. NNC will also be used to vote on initiating root domain names.

NNS has opted to bypass a public token sale and airdrop a portion of the total NNC supply to NEO holders. The NNC tokens will be airdropped at a ratio of 1 NEO to 0.1 NNC (for example, 10 NEO = 1 NNC).

1% of the NNC token supply will be airdropped, so that a larger portion of NNC might be used to incentivize contribution to the development of NEO Name Service.

Interested participants with NEO held on exchanges will need to confirm if the exchange will support the airdrop. If not, then NEO will need to be stored on a personal wallet to receive the NNC.

As there will be no public token sale, the NNS team aims to sell NNC tokens directly to exchanges. When exchanges have been confirmed, NNS will release the information.

The total supply of NNC (1 billion tokens) will be allocated in the following manner:

  • Private Sale: 10%
  • Airdrop: 1%
  • Ecosystem Partners: 10%
  • Development Team: 30%
  • Long-term lock-in by Foundation: 20%
  • Marketing: 20%
  • Community Operations: 9%

NNS partners with SlowMist

On June 5th, NNS announced a partnership with SlowMist, to enhance and maintain the security of NNS smart contracts. SlowMist is a company that provides security audits and consulting for exchanges, wallets, and smart contracts.

The two parties will coordinate and conduct in-depth security audit tests on the NNS smart contracts before it launches on MainNet.

NNS Community Feedback

NEO Name Service has requested feedback from its community. The development team would like to learn what users do and don’t like about the platform, features they would change, and features they would like to see implemented.

The NNS community feedback form can be found here:

Additionally, those who participated in the NNS “.test” domain name registration exercise this past May will receive their reward of 50 NNC within a month of the MainNet launch.

For more information about NNS visit one of the links below.