Announcing the ENS 3-6 Character Auction


It’s not a big problem with DNS, because it grew organically, becoming more popular as it became more widespread. We don’t have that luxury, and as a result if we don’t combat squatting, it will strangle us in our crib, polluting the namespace to the point where nobody can use it usefully.

Names that aren’t bought will become available using the (new) regular registration process - just pay a flat fee to reserve them.

In the proposed second-layer dispute mechanism, anyone can set up their own blacklist - there’s no single canonical one everyone has to use.

Expanding the auction time gives people more time to become aware of the ongoing auction and to participate. Likewise, expanding the reveal period gives more time for people to seek help with revealing if they need it.

I don’t think this is a good idea, as I don’t think it materially advances any anti-squatting goal, and incentivises people to try and deregister and snap up names again to reduce their rent payments.

I’m not ready to abandon preallocation so easily. I think it’s likely to result in a lot more names going to those who will actually use them.


Another wrinkle uncovered by talking to accountants: Handing raised funds over to the/a multisig is less straightforward than it might seem.

Raised funds are clearly income, but income for who? A multisig isn’t a legal entity that can pay taxes.


My guess is that the funds are not an income until some legal entity withdraw from the multisig. At this point it becomes an income of whoever withdrawn.


Unfortunately, our lawyer thinks otherwise.

Auction and Permanent Registrar Update

Wouldn’t it be an income to the “multisig” but not the the ENS foundation, until it arrives to the foundation? It is indeed weird


I made a thread specifically about Harberger, since the topic took over this thread and then got mixed up with others: Modifying Harberger to make it work for ENS

Please comment!


The multisig isn’t a legal entity, so it can’t receive income or pay tax.