[NKP-0008] Name registration price

Making name registration not free is effective against recent abuse of name registration. However, how to determine the price of a name is very difficult. Existing on-chain name service (e.g. ENS) use a complicated bidding design. We think this is generally a good choice (and has been verified), but it’s better to implement such logic in VM. So we are proposing a very simple mechanism:

  1. Registering name will cost a constant but small amount of token (e.g. 1 NKN) regardless of which name is being registered.
  2. Name has an expiration (e.g. ~1 year), and can be renewed before expiration, but renew also cost some token (e.g. 1 NKN)
  3. Later we will implement name transfer function. Transferring name will refresh its expiration time but it will also cost some token (e.g. 1 NKN)

For the names that have been registered already, a short expiration will be set to them so they will become available pretty soon. This avoiding doing a hard reset while still being able to deal with the recent name abuse.

For a more complete but complicated name service, we will wait until we have VM and smart contract.

Feel free to leave your thoughts here and join the discussion.

Is 1 NKN enough? At today’s prices, it’s still be reasonably cheap to register thousands of names. 5NKN however is cheap enough people won’t mind, but expensive enough that to register thousands you’d be spending a load of money.

To me either 1 NKN or 5 NKN should work because the name is only useful inside NKN and only valid for a year. I don’t think attackers will spend hundreds or thousands of dollars doing it at the risk of losing all the money without getting back a penny :joy:



ENS recently moved away from auction and just did registration with paid prolongation.
Also, IIRC they forbid to register anything shorter than 7 letters and instead you should fill application for anything 3-6 letters short (not sure how cenrtralized or decentralized this process is)

ENS domain price is made to be about ~$5 yearly (according to their blog post). I paid ~$4.3 in may and now it’s close to ~$4.8. Same 0.022 ETH, so I’m not sure how price in ETH is regulated (maybe through some onchain government mechanism)

That is a good idea at this moment.