[TEMP CHECK] ENS invalid name refund proposal
This is a proposal to give refunds to the ENS names that used to be valid but now invalid (or causes different normalisation results) due to the new name normalization standard raffy has been working.
There are three options for the refund and here is the overall cost
|Option||fee refund condition||fee||premium||gas||total||eth price||total in usd|
The refund condition explained
The refund consists of 3 parts.
- Registration and renewal fee
- Premium (the extra amount paid after a name is expired and put with 90 days decaying premium)
- The gas spent to register/renew (the gas fee is estimated based on the last one month average gas cost with the gas price at the time of the transaction)
For 1, there are potentially three ways to refund
- A: The last remaining registration fee or renewal fee
- B: The last registration fee or renewal fee
- C: All fees paid
The refund excludes any period when the name expired. This could be debatable as some people complain that they are no longer able to renew the invalid names from our UI. However, It also raises the risk of users digging in the expired names with high premium and re-register just so that users can get the full premium.
- 2019-03-23 Register 2.1 ETH by X (base 0.1, premium 2) with gas fee 0.0001 then expires
- 2020-03-23 Register 1.1 ETH by Y (base 0.1, premium 1) with gas fee 0.0001
- 2021-03-23 Renew 0.03 ETH by Y until 2024-03-23(3 years) with gas fee 0.0001
- 2022-01-04 Transfer from Y to Z
- 2023-03-23 Refund day. Total duration 5 years, remaining 1 year (0.01)
At this point.
- X paid 2.1001 ETH
- Y paid 1.1302 ETH
- Z paid 0 ETH (More likely it was sold from B to C)
In this scenario, “Premium” is 1 ETH and the total gas fee is 0.0002 For the registration/renewal,
- Option A is 0.01 (remaining duration of the 0.03 renewal)
- Option B is 0.03 (renewal 0.03)
- Option C is 0.13 (base registration 0.1 + renewal 0.03)
How do I know if my name is eligible
Please refer to this post to find out whether your name is eligible for not. Your name is eligible for refund only if “Different”, or “Error but Norm”. Please also bear in mind that it excludes names that has
This is still not the final version so please post your feedback , questions, and bug report.
Once the script and data is finalized, we will raise a social vote on which method we refund (Option A, B,C, or no refund).
We will refund by bulk transfer so the each recipient does not have to pay gas to claim. The DAO proposal will add the extra gas cost for the operation.
The data was collected as of March 30th 16:00 UTC. The data will be recollected at the end of the voting result.
- refund_addresses = This includes all the refund candidate addresses with number of names they own, sum of premium, gas, and fee (in 3 different options)
- refund_names = The breakdown of refund_address for each name the address own with the etherscan url to inspect the history of the name
The query is on github
- 25 names were owned by 0x000…dead (which are excluded from the list)
- 1883 names contain invisible spoofing chars (which are excluded from the list)
- On average, each address receives the refund of 0.04-0.08 ETH (depending on the options)
- 60% of all the eligible addresses has only 1 name (90% has less than 5 names)
- Top 10% of all the eligible addresses receive 32-33% of all the refund amount
- The owner with largest number of names eligible for refund is 0x350c8181846e7d12f6a81fc756010f657705cea7 and has 177 names
- The largest refund amount will be “ᴇᴛʜᴇʀᴇᴜᴍ” owned by 0x4ac5ed4b31f4f0e16bd96bf2d9f96200d7c266af and eligible for 15.28 ETH (mostly for premium)
- The biggest gas refund will be to 0x372973309f827b5c3864115ce121c96ef9cb1658 owning 90 names spending 3.2 ETH in gas in total