Staking $ENS to renew a domain

🌱 ENS Ecosystem Ecosystem Discussion
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What about staking $ENS to renew a domain?

You renew a domain by staking the equivalent of 5 dollars in $ENS.
(optional, of course)

The staked $ENS goes to a ENS vault, from which you can still use it to vote, but you can’t transfer from it.

If the domain expires, the $ENS goes back to you.

Advantages:

  • voting power is preserved
  • there is no selling of $ENS

Cons:

??

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That’s closer to our initial model between 2017-2019 (but locking $ETH than $ENS). This didn’t prevent people from squatting tons of names they don’t use as there is no penalty doing so

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Note that my proposal is for renewal only.

And I think there is a penalty in having something staked (that can be very valuated) with limited use (in the case of $ENS, only the intended purpose of governance)…

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but again you’re removing the penalty for squatters. they “pay” the first year, and then just squat for the rest of eternity on $5 worth of $ENS.

I dont think it will be beneficial to have that.

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that $5 worth of $ENS could be $500 worth of $ENS in a year (or not)

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Anyway, I’m pretty sure the idea can be improved, maybe require a fixed amount of $ENS ?

$5 dollars or 1 staked $ENS to renew

if you go for the $ENS option, is a steep price, but can be recovered later…
your call…

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I think we are having a similar conversation at Using $ENS token as a payment option for ENS domain registration and renewal fees alongside $ETH Given there are lots of DEX, people can make the decision outside of ENS and do the swap elsewhere unless it has some strong evidence that renewing with $ENS will enhance something.

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