This proposal is for ENS DAO to develop an official market place dedicated for trading ENS domains, main justifications as below:
- Protect existing or potential new ENS users from being scammed. That scam is inclusive of
- Fake collection. In opensea or Looksrare(where most of ENS domains are being traded), anyone can create any collection and it could just look exactly like the real ENS domains.
- Non-ASCII, or “looks similar” such as 1 with l, 0 with O.(opensea/looksrare doesn’t have filter function)
- Scamed by platform. Some new NFT trading platform might have security issue, ie. contract not audited, any vulnerable issue can cause user’s account got compromised.
- It would be most legit to trade domains on an official ENS marketplace, because most of above can be avoided, therefore users are protected.
- Improve user experience in registrating and trading domain.
- When users search a name on app.ens.domains, currently they can only see if it is available or not, but in an integrated official marketplace they will directly see the listing information along with a buy link, this is a huge advantage for ENS official to do this, because this way everything can be under one platform.
- Opensea and Looksrare are very hot NFT marketplace, but they are doing a terrible job for UX of crypto domain. It has been 2.5 years since ENS short domain auction held on Opensea, and yet they don’t have a least basic filter function for domain. They are still not ready to trade crypto domain after so many years, or in other word, they don’t deserve at all. It will be a very limited effort job for ENS official marketplace to add a popular filter function just general TLD does.
- Transaction fee will be ENS DAO’s income as part of ROI, it is recommoned to set transaction fee lower than Opensea(2.5%) and Looksrare(2%) at some reasonable and attractive such as 1%, and “Reserve for specific buyer” listing is expected to be free of charge. This will not only effectively encourage users to trade ENS on official marketplace which protects them, but also add an additional recurrent income to ENS DAO.
The development solution can be either in-house developed by exisintg ENS team, also can be out-sourced to professional team outside that funded by ENS DAO. This can be determined afterwards.
This proposal reflect the common interest of majority of ENS users. Please leave your comment and let’s see how soon we can put this to a DAO vote.