We Need Our Own Domain Name Trading System! 🔥

đź’¬ General Discussion
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Cries from the community.

We need our own domain name trading system!

Why should we use its lame NFT trading system on opensea?

Why should we contribute 2.5% commission to opensea?

Isn’t it good for this 2.5% commission to return to our community?

Ordinary NFT trading places simply cannot meet the characteristics of multi-attribute transfer of ENS domain names (only registrants can be transferred). Why can’t we have our own transfer system (reverse resolution, renewal and content resolution are included at the same time)?

In this system, both the buyer and the seller are real users of the ENS community, so the trading system can use ETH and ENS for pricing (the ENS transaction is free commission). If the ETH pricing transaction is used, the seller will pay a 2.5% commission, which will be rewarded to the buyer in the form of ENS tokens (because the buyer becomes a member of the ENS community), At the time of transfer, the 2.5% ETH fee will be directly converted into ENS tokens reward to the buyer through AMM (the seller receives 97.5% ETH and buyer receives the domain + 2.5% ENS，and the trading system profit is 0), the buyer of ENS domain name will receive 2.5% ENS reward.

This is the same as the principle of airdrop to old users of ENS.

The long-term goal is to increase the right of ENS holders and expand the prosperity of ENS community.

At this stage, if a user only registers the ENS domain name, theoretically he will not have the opportunity to obtain the ENS token unless he goes to the exchange to buy it separately, which completely separates the relationship between the ENS user and user governance rights.

Furthermore, as the earliest application and user organization of NFT, our ENS domain itself is also NFT, our ENS trading system can also be compatible with other NFT transactions. Let opensea go to hell (opensea only wants IPO)!

Further discussion, although the ENS project itself is not a profit-making project, do community users have the right to increase their ENS so as to increase their voting rights on ENS? This increase has nothing to do with the price of ENS, but use some incentive mechanism to let users obtain more ENS so as to increase their voice.

Let’s discuss, let’s act, let’s vote!

ENSer

16 Likes
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An exchange meant to trade ENS names would be really cool

But opensea’s gas optimizations just cannot be beat

Buying an ENS name and getting a little bit of liquid ENS is an amazing idea! (Liquid meaning it wasn’t created from nothing, it was bought from the open market)

It is a sustainable incentive…. However, this would likely add another 120,000 + 45,000 gas needed to buy, which In the end can become more expensive than simply paying opensea’s fee

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Establish an independent transaction system for each domain name and maket.ens.eth domain name center. Enter his maket.xxx.eth domain name to reach his personal space. Although there is some gas, it is of great significance. This is my suggestion!

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It would be even cooler if you could use ens to exchange domain names

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with a built in messaging system that costs ENS to reduce the spam

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This is a really great idea! It makes a lot of sense for the ENS ecosystem.
In fact, I signed up for OpenSea by registering the ENS domain, so the early development of OpenSea benefited from ENS, but now it’s time to think about building an ENS independent ecosystem.

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If you feel that way, then build one.

I would prefer if we moved to have less “official” ENS stuff, not more.

An “official” ens reselling platform hosted on ens.domain and built by the core team? NO!

A community created exchange made specifically for ENS names? COOL!

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We don’t expect the development code of the core team.
We hope the community will vote to recruit the team from the Treasury to incubate the project.
The community should take action and can’t wait for others to do it for us.

Our goal is to expand the ENS community to 10+ million users, not just 130k airdrop users.

Identify projects - apply for funds - recruit teams - community supervision

As the underlying service provider of blockchain digital authentication system, ENS community has the responsibility to set an example and launch valuable projects from the community. :vulcan_salute:

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Hey @ZEN, welcome. OpenSea technology isn’t lame but I agree with your critique of the fee strucuture.

It would be prudent to give buyers and sellers the options where to exchange ENS names - either OpenSea or another option.

This idea seems interesting:

Hosting an exchange via IFPS on the ENS website would be a great way to promote more frequent buying and selling of ENS names. It would make the asset (the names) instantly more liquid.

Two quick questions:

  1. How do you encourage someone to use the ENS exchange over other competitors if the fee is the same? Are you willing to adjust this fee mechanism or is it sticky?

  2. How do you plan to cover the development costs of this build? Through the treasury?

Look forward to learning more about this initiative.

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As for technology, I want to express that as an ordinary NFT transaction, opensea can fully meet the requirements. The ENS domain name system is a complete digital identification system, which contains dozens of additional attributes. The NFT attribute is only a subset of the ENS system. The existing NFT transaction system cannot fully support the multi-attribute right confirmation of the ENS domain name, Just like we won’t trade. COM domain names on eBay.

ens1
ens11390Ă—2084 286 KB

As for trading, the biggest difference between our trading system and opensea is that we includes the right to obtain the governance of ENS community in the trading process, while trading on opensea only provides financial profits to opensea, which is essentially different, we are more in line with the constitutional spirit of ENS Dao.

The ETH paid by users during domain name registration enters the vault. This behavior is clearly defined in the constitution. It is not a commercial behavior for profit. It is essentially a donation.

The goal of ENS vault is to support and build a complete digital identity system. If our own trading system is one of the links that need to be built, it should be made a reality.

As for the specific amount and method of payment, I think community supervision is the key to solve this problem.

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sounds good.support!

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His future value is greater than the current actual situation. Just like the creation of btc, we don’t need a better one, but we need to have our own ecology and expansion. Of course, we may need a third party to complete it. Should belong to the scope of work of core R & D personnel.

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My 22 ENS’a were stolen from my Metamask wallet!

Ant ideas on how to recover them? (I have the address that they were sent to)
Thanks!

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Definitely there should be a marketplace that is build for the community, I think ENS is not the only one facing the same issue. Opensea just came and took all the commission contributed by the community, which might be using on hiring people working on their IPO plan. Who knows? :woman_shrugging:

What if there is a marketplace, which will refund all (/ most of) the trading commission to the community, so from there the community can definitely use the fund to buy back $ENS and burn, or anything that the community agreed with. I think this could be an easy approach.

Let me know what you guys think.

1 Like
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There is also an ENS Market on Reddit

r/ENSMarket
https://www.reddit.com/r/ENSMarket/

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There is also a separate Discord for ENS Market.

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This is not the ENS trading system based on smart contract we are discussing here! :raised_back_of_hand:

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I realize that, just mentioned it for the time being.

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If the development needs a donation, I think I will support

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i belieave it will be a good start to think if we/nft need an addinational trade system

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