How can we do ENS better?

[juanda]

Hi Makoto.

@matoken.eth

Even though tokens can increase “skin in the game” and increase network effect, it can also be used for governance take over (which did happen in a few Defi projects recently).

“grant token” is less risky

That is true. A grant token is a good alternative.
Although I prefer an utility token. And wold be cool if the revenue generated by domains is reinvested in create ecosystems that encourage their use* (Token and domains).

@matoken.eth

Do you have any data to share how $OGN tokens are increasing their ecosystem? I have looked into their site, but they don’t set any link to dStore site their members and there is no analytics site so hard to see what they are doing (also do they support ENS?)

I have no data/statistics. But I can share a link to create a virtual store for free (IPFS) perfect for .eth domains.
*You can also notice how this development encourages (voluntary) use of the OGN token and its value without the need of a governance token.

https://dshop.originprotocol.com/#/admin/signup

@matoken.eth

That would work for Origin as Dstore space is limitless whereas good ENS names are scarce so squatters will squat imho

Absolutely. I do not mean to give free domains.
Just the possibility to easily create a dwebsites / dstores / dblogs by building an infrastructure to create IPFS links (for free) in a easy way to incentive the use of .eth domains (And its token If there is one.)
But if a token is created with a business model similar to Origin, free infrastructure could be developed that, even if it is used by competitors users, would benefit the value of the token and this would be good for “.eth” domains in general.

@matoken.eth

How do we prevent squatters vote to remove annual rent so that they can squat as many as they want?

Perhaps a governance token is not the best solution since it could generate conflicts of interest between what the ecosystem requires and the domainers.
So a utility token would be perfect.
These tokens could also have governance power, but not for price decision making on renewals.

And now that you mention about conflicts of interest, I express my concern here …
ICANN is supposedly a “nonprofit organization”

But with the prices they handle for the domains I DOUBT IT!
Let us call that with its name: ¿MONOPOLY?
And clearly domains are a MULTIMILLIONAIRE business for the owners of the .com .co .io and even companies like Godaddy… They make users pay not only for the domains! (15 usd a year)! But SSL certificates (10 usd a year), emails, hosting and more…
And yes. The hosting m̶o̶n̶o̶p̶o̶l̶y̶ Is usually around 10-20 usd a MONTH! And IPFS can allow users not to pay much… And many powerful pockets would not like this idea.

And Is clear… imo ICANN does not appear to be in service of the end user. And a millionaire business tentacle will never allow it.

Solution?
Let’s not look at ICANN as “friends”…As a nice “nonprofit organization”.

The idea here is that “.eth” should work to be a better alternative for the people than the ICANN domains.
ENS.eth.link should be for the people. Not for Godaddy owners and similar companies like Wordpress that to date have NOT create a business that really allows the end users to have a real free and good website. (This is why I admire Origin protocol business model)

And with the technology that ENS offers of not having to pay high annual renewals, being able to receive any cryptocurrency with the domain, being able to chat with the domain owners (Startus.im), not having to pay for hosting, no need to pay for SSL, being able to own or sell the subdomains and being able to have decentralized websites, its time to change the game.

And so that ENS domains do not suffer the same problem as ICANN, they should always have low prices and be truly created for the end user in the long term.
Money generated should be invested in tools for the people or incentive the domains and token use.

What could be a good price for .eth? I don’t know … I think a domain should be like 1/4 -1/3 of the average renewal value of the domains sold on godaddy or a “.com”.
Since a range in dollars (3-5 usd?) would not be a good way to calculate its price in the future with an imminent collapse of its value over time.

@matoken.eth

Are there any projects which are working with this model for more than 3 years? I know Kyber started back in 2017 and they have burn model but not sure how much it’s contributing to the token price.

I dont know about a DAO doing that, but BNB and CAKE and some other business burn tokens.
I really like Swop.fy business model. Is like Uniswap.exchange but income generated in the tx is distributed to the SWOP token holders. Is very nice but I prefer when the token is burn…
“A burn achieve the same economic effects as an airdrop, with no need for as many tx on the block chain, and more evenly distributed”. -CZ

Other options is that once ENS have the “ENT” created, ENS can chose If buy and burn the token or to carry out an airdrop (Again… Could be every 10 years?) to those who have “.eth” domains…

Anyway I think an ERC20 token would be a good idea.

And do not worry about answering all this I say. They are just many ideas to be analyzed and where many topics come from to talk about.