[EP5] [Executable] Set the temporary premium start price to $100,000

[serenae]

Compiling some stuff together here since the EP5 proposal is now live on Snapshot:

There was a lot of discussion about this on Twitter as well, my most recent thoughts on this are here:
https://twitter.com/serenae_fansubs/status/1478853162333261833
https://twitter.com/serenae_fansubs/status/1479181126304518151

Also see this response that I put to a related question earlier today here on the forums:

Best Practice for Acquiring Domain Currently in Grace Period

Right now sniping has become more common, and that’s because when the grace period ends the domain is meant to go into a Dutch auction, but the starting price is set too low now (was more appropriate back in 2020). https://en.wikipedia.org/wiki/Dutch_auction Nick created a proposal to fix that by raising the starting price of the auction to $100k, which will then go down over 28 days (maybe non-linearly) to meet the highest bidder. https://discuss.ens.domains/t/executable-set-the-temporary-pre…

In short, I didn’t “get it” at first until Nick graciously explained everything. It’s very easy to look at this proposal on the surface and make kneejerk assumptions. Nick also put this thread out on Twitter as an explainer, that I recommend reading:
https://twitter.com/nicksdjohnson/status/1480276674860118016