The ENS registration DApp is set to launch next week, and one of the final remaining pieces is to set the price of a username.
At least initially, it makes sense to price each name at a flat and static amount.
The value of a username is hard to estimate. Prices of a “top-level” .eth name
vary based on how much a user is willing to bid, and whether other bidders compete with them for their name at auction.
With a .stateofus.eth name
, users have the advantage of much more quickly and conveniently registering on the name service. The money is merely deposited, and not spent; a user will have the option to withdraw their funds after 1 year.
For both Status and our users, there’s a big upside to encouraging as many username registrations as possible. Users will be able to find each other in Status more easily with an ENS name, and eventually, these names will probably be used to build out their identity, for display in public chats, etc.
The current thinking is to set the price to a low amount, e.g. 10 SNT, to encourage registration. User attitudes toward paying for a “username” are not well understood.
We could run a survey to understand the value of an ENS name to our users, but I also want to invite discussion about it here from anyone with an interest in pricing (crypto)economics.
Another factor to consider is, what happens when the price of SNT changes?
10 SNT today = ~$.35. If 10 SNT in 1 year = $50, that’s a lot less inviting.
On the flip side, if the cost of a username in SNT adjusts itself to remain at ~$.35, will users release their names to get back appreciated SNT and then re-register at a lower price?
Please discuss.