KNS Domain Auction Day 1 & 2
Read this post in: 한국어
KNS Domain Auction is now on Day 3. In this article, we will take a look at how the past couple of days have been.
Here are some numbers to start with:
- Total Bid: 253,248 KLAY
- Total Bid Count: 2,513 Bids
- Average Bid: 100.7 KLAY
- Median Bid: 51 KLAY
- Histogram
The total bid was 253,248 KLAY (equiv. to 310K USDT) as of 14:59 UTC, March 29th. Roughly 29% of the bids were 50 KLAY, which is the minimum bid. We assume these bidders are mainly going for the airdrop.
One thing we would like to note here is that if your winning price is high, you get a much bigger airdrop. For example, if your winning price (NOT the bid amount) is 100 KLAY, you get more airdrop than those who won two domains at the winning price of 50 KLAY.
The following is a sample graph when assuming a 200 KLAY winner gets 3x airdrop compared to a 100 KLAY winner (x-axis = winning bid price, y-axis = amount of airdrop)
Hence, bidding 50 KLAY for unpopular domains could be a clever strategy if you are short on KLAY, but it might not be the smartest if it’s not the case.
Now, the statics related to the bidders are as follows:
- Unique Bidders: 687
- Average Bids Per Bidder: 3.66
- Bidder Ranking:
The top 3 bidders’ share in the Auction is 3.94% in terms of the number of the total bid count and 18.73% in terms of the total bid amount. The snapshot for the single bid ranking is as follows:
We can assume two things from this ranking:
- If you bid higher than 12,000 KLAY, you win any domain.
- Because we’re hosting a Vickrey Auction, the highest bidder (…5d44) will be only paying a maximum of 5,004 KLAY, unless there is a higher second bidder. In anyways, the highest bidder gets what (s)he wants, along with at least 7,000 KLAY refund.
If we set time as X-axis and the total bids as Y-axis, the bids over time will look as follows:
We can see that the graph is somewhat showing “y = √x” function. Hence, if we change the time to a log scale, we can find a linear trend line:
If we project the total bids using the trend line, the auction will end with around 400~450K KLAY of total bids. However, we assume some of those who are going for the popular domains are waiting for the last day, so a more realistic projection would be 550~600K.
Finally, let us answer some of the frequently asked questions!
Q. Wen reveal?
A. 15:00 UTC, April 10 to 14:59 UTC, April 17. Remember, EVERY BIDDER MUST REVEAL THEIR BID BY THEMSELVES, otherwise they lose their bid amount where a portion of it is sent into $KNS Treasury for the token holders.
Q. If I didn’t win, do I get a refund?
A. Oh, yes definitely. But remember, in order to figure out that you didn’t win, YOU NEED TO REVEAL. NO REVEAL, NO REFUND.
Q. Wen winners get their domain?
A. By April 30. The winners also get the difference of bid — winning price (2nd highest bid) along with their domain at the same time.
Q. Wen domains expire?
A. By June 30, 2023. Renew before it expires or 30 days after expiration. For the renewal fee, read the following post:
Q. Wen tokenomics?
A. By May 31.
Q. Wen $KNS airdrop?
A. By June 30.
Q. Wen sale for 7+ letter domains or domains not taken in the auction?
A. By July 31. Probably first-come-first-served.
Q. Wen sale for 1 or 2 letter domains?
A. To be determined, but not our priority for now.
Q. No special characters in domains?
A. Nope. Only small case alphabets and numbers.
Stay Tuned
Don’t miss out on the latest news from KNS. We are best reached by Discord, so hope you see you there!
Klaytn Name Service (KNS)
Your .klay domain, your on-chain identity.
Website: klaytn.domains
Twitter: twitter.com/klaytn_domains
Discord: discord.gg/kns
