[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.

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.

This NKP has been implemented