KNS Domain Auction Statistics

Klaytn Name Service
5 min readMay 4, 2022

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Read this post in: 한국어

KNS Domain Auction was successfully finalized after two weeks of bidding period and one week of reveal period.

Congratulations to all the winners! For those who didn’t win, don’t be too disappointed! There’s another chance to get your domains at the public sale.

In this article, we will take a look at full statistics of the auction and reveal period.

Bidding Period

The bidding period for KNS Domain Auction was held for two weeks, from March 28 to April 10. In our previous article, we took a look at Day 1 & 2 statistics, so we will compare that data with the finalized ones.

  • Total Bid: 253,248 KLAY → 778,992 KLAY
  • Total Bid Count: 2,513 Bids → 4,452 Bids
  • Aver Bid: 100.7 KLAY → 175.0 KLAY
  • Median Bid: 51 KLAY → 52 KLAY
  • Histogram
Histogram for Day 1 & 2 (left) and the entire bidding period (right)

The total bid throughout the Auction was 778,992 KLAY (Equiv. to 833K USDT, as of April 10). The ratio of 50 KLAY bids was dropped by 1.5%p and for <100 KLAY bids, it was dropped by 4%p. From this change, we can infer that higher bids were placed after Day 3. The average bid was also increased by 74.3 KLAY, from 100.7 KLAY to 175.0 KLAY.

Next, let’s take a look at bidder statistics.

  • Unique Bidders: 687 → 1,112
  • Average Bids Per Bidder: 3.66 → 4.00
  • Bidder Ranking:

Compared to Day 1 & 2, the total bid amount of the highest bidder was increased by 5.7 times from 21,050 KLAY to 119,900 KLAY.

The share of the top three bidders decreased by 2.32%p from 3.94% to 1.62% based on the number of bids, and increased by 16.37%p from 18.73% to 35.10% based on the total amount of bids.

This is the result of an almost eight-fold increase in the average bid of the top three bidders from 479.02 KLAY to 3,797.43 KLAY. The single bid rankings are as follows:

The second-highest bidder, 0xcbf6…6dc1 placed 6 bids, each with 15,001 KLAY, 30 minutes before the end of the auction. As a result, these bids were recorded as the highest single bids.

Let’s take a look at bids over time.

In our previous article, using “y = √x” function as a trendline, we projected that the total bids will result in 550~600K KLAY. It turns out the total bids way outnumbered them by more than 30%, resulting in 780K KLAY.

Throughout the bidding period, the projection seemed to be fitting the trendline, but there were a couple of spikes on Days 9, 12, and 14, as several high bids were placed.

Reveal and Finalization

The reveal period was from April 11 to April 17. All bids must have been revealed in order to either win a domain or get a refund. Since the reveal period is over, let’s take a look at which domains had the highest winning prices.

As you know, KNS Domain Auction was hosted as a Vickrey Auction, where the highest bidder wins the domain at the winning price of the second-highest bid. This means even if the bid amount is high, it does not necessarily mean that the winning price is high as well.

Finalized results are available for public access in the following link for the next few weeks. We can see that the 6 bids with 15,001 KLAY are ranked as the top 6 domains even after finalization.

The top domains are:

  • Klaytn-related domains: kakao.klay, kaikas.klay, klay.klay, klip.klay, krust.klay, klaytn.klay
  • Blockchain-related domains: meta.klay, nft.klay
  • Others: pogba6.klay, korea.klay

Surely, the high bidders seemed to have been interested in Klaytn-related domains. The statistics after the finalization are as follows:

  • Total Number of Domains: 2,492
  • Total Winning Amount: 247,711 KLAY
  • Total Refund (Except Winners): 279,102 KLAY
  • Total Refund to Winners (Bid Amount Minus Winning Price): 239,864 KLAY
  • Average Winning Price: 99.4 KLAY
  • Median Winning Price: 50 KLAY

Domains by Length:

  • 3-letter Domains: 406
  • 4-letter Domains: 534
  • 5-letter Domains: 623
  • 6-letter Domains: 929

Histogram of the Winning Price:

2,024 domains were won with the minimum bid amount, 50 KLAY, accounting for 81.22% of the total domains. Of these, there are 291 three-letter domains and 398 four-letter domains, which are 90% and 67% cheaper than the existing one-year registration fee of 500 KLAY and 150 KLAY, respectively. Great deal and congratulations!

What’s Next?

Here’s a brief timeline for the KNS team in the next couple of months:

  • April 30th (Done): Auction Winners will get their domains (NFT) and the refund for the winning price minus the bid amount.
  • Mid-May (Done): KNS Domains are listed on Opensea
  • Mid-May: Giveaway domain winners will get their domains
  • Mid-May: SDK for developers (to recognize KNS domains) will be released
  • May 31st: $KNS Tokenomics and Airdrop amount will be released
  • June 30th: KNS v1.0 website will be launched and all domains will be available for purchase and registration. Swap, liquidity pool, and staking functions will be available.
  • And many more exciting announcements are waiting!

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

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