I did statistics on the expiry ratio of ENS with different characters:
The expiry ratio of 3-character ENS is 83.56%, only 16.44% of them are not expired.
The expiry ratio of 4-character ENS is 71.06%, only 28.94% of them are not expired.
I did statistics of ENS subscription cost with different length ENS:
After reducing the subscription fee for 3-character and 4-character ENS, I think the I think the expiration ratio will go down, and more 3-character and 4-character ENS will be registered. In the short term, the ENS protocol month revenue may decrease or increase, but in the long term, I think it should increase.
Here are 3 ways to reduce subscription fee:
3-character ENS: $320/year
4-character ENS: $80/year
(50% of current value)
3-character ENS: $160/year
4-character ENS: $40/year
(25% of current value)
3-character ENS: $5/year
4-character ENS: $5/year
(same as 5-character ENS, because the expiry ratio of 5+ characters is 39.68%, it is already very high)
Which option would you choose? You are also welcome to give new ideas.
I think Option A could be a way to lower current owners’ pressure and meanwhile, prevent them from taking up all the good names
I think Plan B is better, as appropriately lower registration fees will help incentivize more people to own ENS, while excessive holding costs will reduce liquidity. Of course, too low is also inappropriate, too cheap on the one hand leads to massive hoarding, on the other hand is not good for the treasury.
The expiration ratio is not the key performance indicator we should be looking at. I think integrations, number of wallets holding an ENS name, and projects building on ENS, none of which does reducing the subscription fee address.
Disagree, reducing registration price will not increase revenue
An reason support for Plan C:
In China, the length of most person’s name is 3. China has 1.4 billion people.
“Your web3 username” is the slogan of ENS, but $640/year is too expensive for Chinese user to register a Chinese ENS name, such as 赵小明.eth , 刘浩宇.eth .
The total count of ERC-1155 ENS is about 152k (not including subdomain, https://dune.com/queries/3088342) , to simplify statistics, I just did statistics for ERC-721 ENS:
It means that:
- There are 15894 (696176 - 680282 = 15894) wallets who just registered 3 or 4 characters ENS
- There are 7086 (549964 - 542878 = 7086) wallets who just registered 3 or 4 characters ENS and the ENS is still not expired
- 3 or 4 characters helps increase ENS users
- Reducing the subscription fee for 3 or 4 characters helps increase ENS users
I vote for plan B, let consider this seriously. It time to adjust the subscription fees!