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

i agree. it will communicate to people that ENS domains are that valuable. then asking prices will shoot through the roof on listed and future listed names.

either way i agree there needs to be a sort of bot proof implementation . not good for prices, not good for onboarding.

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@nick.eth do you know if there any cases of people sniping names being registered for the first time ? or if that is even possible?

If the name has never been registered before, then anybody can register it at any time. So no, sniping is not possible, or rather that term doesn’t really make sense here.

But it is possible that if you set a low gas price on your register transaction, that someone else can see that and go through the commit tx + wait 1 minute + register tx and complete all of that with higher gas price before your register tx finishes.

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Since this passed over the weekend, I’m deploying the new oracle now. We will need ChainLink to whitelist it before I can start an onchain vote.

Edit: I’ve deployed the new price oracle contract at 0xa51b83e420c5f82982dc8b7f4514c9bea0b290ee. Inspection and verification welcome!

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This is now live for voting onchain here

Please go vote!

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Usually, in a scenario where transaction costs are zero, the most efficient outcome will occur. I got that from a law book going over control mechanisms for abatement costs. I think it’s Coase Theorem.

Regarding socially efficient abatement costs, a method used in allocation of emission reductions among a specific industry sector was the equimarginal-principle.

The $100,000 premium for expired names could be tiered based on the constraints between variables that draw value from demand?

3-5Letter words $100,000
5-7+ Letter Words $50,000
Emoji $25,000
Popular First Names $10,000

Would this achieve a socially efficient cost of mitigating name squatters?

Just this morning I have seen at least two ENS domains sell for over $20,000, so I believe this proposal was definitely necessary.

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Is there a future possibility for an > (t) per voting period.
Ie for price per Eth fluctuation? For gwei?

We may reach a larger “active” voting base.
Per held balances in $ENS.

If we time a live vote for a downswing in Gwei utilization. On the network as a whole.
Webhook? :thinking:

This is now queued for execution in 2 days.

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This has now been executed.

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@nick.eth Looks like there might be a display issue with the ens dapp. Says “Buy now for 0.39 ETH($984.33)” just above the descending line. Label in the chart area also says, “Starting price: $2000”
https://app.ens.domains/name/nftcard.eth/register

Also should have a comma, “$49145.58USD” → “$49,145.58USD” People might think it’s displaying the wrong amount.

1 Like

Yup, we’re aware of it and will fix it ASAP.

this is really good solution in the short term, but to be frank, I don’t see any big problems with it even in long term

its efficient, easy to understand, does its job - why reinvent the wheel

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good catch! :slight_smile:

people are already confused😐

Judging by the questions I receive as support mod, I’ve received far fewer questions about it than I expected.

I received a barrage of questions about it before it went into effect by domain squatters which I think affirms the effectiveness of the proposal.

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Wow, someone just sniped bbc.eth right out of the grace period for 38.7 ETH ($101k) :sweat_smile:

https://etherscan.io/tx/0xe76aa243308307a2501dcf2edd17feaf507efc4424a54b8ebde461d9d14cde44

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I thought that $100k was too low, but happy to see that I was right, and others agree with me about the value of ENS!

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That is some incredible dedication to scumbaggery

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Sounds like you are on the hunt for expired names. LOL, jp