The Terra community has started a new decentralized service called Terra Name Service (TNS) and is preparing a token airdrop. Accordingly, TNS will be distributed to Terra users who have purchased a Terra Name Service address before December 17th, have at least 15 transactions in their wallets, and have spent at least 16 UST.

Terra Name Service announces Airdrop

More information, this is a blockchain domain name project similar to the Ethereum Name Service that allows users to register names that end in .ust instead of .eth. The Terra Name Service team hopes that .ust will become the standard for domain names in the various Terra-related ecosystems, including Cosmos, Osmosis, Secret Network, Crypto.com, Persistence, Injective and more.

It is known that TNS is both a governance token and a revenue sharing feature of the project. In particular, TNS owners have the right to participate in the project management DAO organization; Staking TNS receives both staking rewards and revenue from service delivery from Terra Name Service. In terms of tokenomics, TNS will be issued on the Terra blockchain with a total fixed supply of 100 million tokens.

At the time of launch, only 47 million TNS were released. 17.7% of this is sent to the users of the project, 2.1% to those who helped build the project, 1.4% to marketing, 21.3% to the community, VND, 4.3% for joint efforts and the remaining 53.2% for other future plans. The remaining amount of tokens will be released gradually until 100 million TNS are reached after 24 months.

TNS token allocation after 24 months

Conditions for receiving TNS .airdrop

• Must purchase the .ust domain name before December 17, 2021 4:32 PM (Synthetic Team time)
• At least 15 transactions must be carried out with Terra Wallet (projects other than Terra Name Service are allowed).
• Must spend at least 16 UST on the Terra Name Service platform.

According to the project’s statistics, there were 10,198 wallet addresses eligible for the TNS Airdrop out of a total of 24,268 wallets that interacted with Terra Name Service. Eligible users will be able to obtain tokens on the Terra Name Service website starting December 24th at 8:00 p.m.

This is a prominent airdrop of the crypto market in the last 2 months of 2021, after Ethereum Name Service (ENS), ParaSwap (PSP), DappRadar (RADAR), BitMEX (BMEX), … Terra Ecosystem received a lot of attention in recent years if LUNA has continuously established ATH since the project passed the largest token burning proposal in history.

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