Vitalik Buterin poll reveals community want 5-letter .eth domain name for $100
A Twitter poll by Ethereum co-founder Vitalik Buterin found that nearly 50% of the cryptocurrency community believe that a five-letter .eth domain name will cost less than $100 over 100 years. became clear.
Respondents from the community said that the “under $100” price is the best because it guarantees inclusiveness for everyone, but some argue that the price should be higher because domain ownership lasts 100 years. There is also
Less than $100 because encryption and ENS should be inclusive for everyone. $100 is a lot of money in some countries. Who says only wealthy citizens in certain areas should have her five-letter username?
— soy.eth (@soy_eth) September 4, 2022
Rodney Ramsey said, “Since .eth is of little use outside of speculation, registrations should be made as cheaply as possible. Any price will do if people want to speculate and trade them.”
Registration should be as cheap as possible, as .eth is of little use outside of speculation. If people want to speculate and trade them, they do so at whatever price they want.
— Rodney Ramsey (@RodneyRamsey) September 4, 2022
When Buterin responded to some community members, it became clear that he was trying to stop domain parking by “scalpers” and give smaller players the opportunity to own those domain names.
As it stands, it will be out of reach for smaller players to get their hands on anything interesting in 2050.
—vitalik.eth (@VitalikButerin) September 4, 2022
Meanwhile, some community members argue that Buterin should let the market determine the value of these five-digit ENS domain names.
Why can’t the market decide this? https://t.co/LViz9SICxA
— 6529 (@punk6529) September 4, 2022
At press time, over 85,000 people have taken part in the vote.
Buterin Calls for Taxation on ENS Domains
Vitalik Buterin recently was suggested A 3% annual fee for the highest bidder’s ENS domain name.
According to Buterin, ENS domain name owners must pay 3% of the highest bid for their address each year to maintain ownership. An investor with her highest bid for a domain of $500,000 would have to pay taxes of $15,000 annually.
According to him, this will motivate people to hoard unused domains.
ENS domains on the rise
ENS domain names have seen massive adoption and growth in recent years.
ENS August 2022 Stats
– 301K new .eth registrations (2.17 million total names)
– $4.7 million in protocol revenue (all from @ENS_DAO)
– Earnings of 2,744 ETH (3rd highest month)
– 34,000 new eth accounts with at least one ENS name (540,000 total)
– >99% of OpenSea domain volume pic.twitter.com/utU8i4cBMT— ens.eth (@ensdomains) September 1, 2022
According to available data, ENS domain names generated $4.7 million in protocol revenue while adding over 300,000 new .eth registrations in August.
It also revealed that ENS domains added 34,000 new accounts with at least one ENS name and had the third highest revenue in August with 2,744 ETH ($4.3 million).
Community members attribute the growth of the ENS domain name to the Ethereum merge.
The use of .eth names has become trendy within the cryptocurrency community as several influential Twitter accounts have started using .eth names as their profile names.
