KNS Teaser Website and Lucky Draw
Teaser
Yesterday, we launched the teaser website for Klaytn Name Service (KNS), a domain name service for Klaytn blockchain. As per our website:
Why still use long and hard-to-read wallet addresses that nobody can remember? With Klaytn Name Service (KNS), you can map your Klaytn address with a simple and unique domain like “kns.klay”.
KNS will be integrated with various Klaytn services including wallets and De-Fi products, empowering you an identity on Klaytn.
More information can be found in the following link:
Auction
In March, we will be hosting a Vickrey auction — we’re also calling it a private auction — for the first round of domain sales. Here are some of the conditions for the auction:
- Qualification: Anyone can participate in the auction.
- Duration: The auction will begin in March for at least more than two weeks.
- Length of Domains: 3 to 6 letters domains will be sold. 7+ letter domains will be available for public sale after the auction.
- Bidding: Your bidding price will NOT be disclosed. The beginning price will be announced later on.
- Lock-up: You will need to have enough Klay in your wallet to make a bid. Once you make the bid, your Klay will be locked up until the end of the auction.
- ⭐Winner: The winner with the HIGHEST bid wins but at the price of the SECOND-HIGHEST BID. For example, if John makes the highest bid on doge.klay at 1,000 KLAY and Jane makes the second-highest bid at 800 KLAY, John will be the winner and pay 800 KLAY to claim the domain. John’s remaining 200 KLAY and Jane’s 800 KLAY will be refunded.
[UPDATE: We apologize that the previous description — struckthrough below — was misinformation.]
T̶h̶e̶ ̶b̶i̶d̶d̶e̶r̶ ̶w̶h̶o̶ ̶m̶a̶k̶e̶s̶ ̶t̶h̶e̶ s̶e̶c̶o̶n̶d̶ ̶h̶i̶g̶h̶e̶s̶t̶ ̶b̶i̶d̶ ̶t̶a̶k̶e̶s̶ ̶t̶h̶e̶ ̶d̶o̶m̶a̶i̶n̶.̶ ̶ - Reveal: You have to reveal your bid after the auction as in the case of Ethereum Name Service, else you will lose your bid and will not get a refund. Currently, we are discussing the architecture regarding the reveal, so the details will be announced as we reach closer to the auction.
- Airdrop: Winners of the auction will be later rewarded with KNS token airdrop. The higher bid you made, the more airdrop you will get.
Partnership
More partnerships will be announced in the coming weeks, but here are our initial supporters:
- Krust: Krust is a subsidiary of Kakao and leads Kakao’s global business with a focus on innovative technologies such as blockchain and artificial intelligence. The details of the partnership will be announced later through a separate article.
- Hyperithm: Hyperithm is providing support in contract development and architecture of KNS tokenomics.
Lucky Draw
As an opening event, we are hosting a LUCKY DRAW. We already had more than 2,000 submissions so far. Check out our website and submit your domain. Here’s a list of the most popular domains:
Questions
- Q. No OGs?
A. Not like a typical NFT project. We will NOT be having a whitelist for the private auction. The auction will be open to everyone, but we’re calling it “private” because the bidding prices will not be disclosed. Active users in the Discord server will be awarded higher chances for domain giveaways. Details for server roles will be announced later this week via Discord. - Q. Wen lucky draw?
A. Initially we planned to announce 10 winners all at once, but we might change it and announce a winner every couple of days. Follow our Twitter or stay tuned in our Discord to get the latest news!
Feb 19 Update — Submission for our first lucky draw will be closed Feb 20 (Sunday) 23:59 UTC. Winners will be announced from Feb 21 and onwards via Twitter and Discord.
Klaytn Name Service (KNS)
Your .klay domain, your on-chain identity.
Website: klaytn.domains
Twitter: twitter.com/klaytn_domains
Discord: discord.gg/kns
