[Proposal] End of the auction system

Hey all,

I think it might be time to move away from the auction system. Auctions were great at the beginning to ensure a fair distribution but I think they are not relevant anymore now that a lot of domains have been registered. Moving to direct registration system will allow to reduce friction for users

If this proposal has enough support on the forum, a DAO vote will be set up.

23 Likes

I support this.

This will be great to avoid friction and whales snatching our domains

3 Likes

I support this.

The auction system has served its purpose well in terms of securing a fair distribution and price discovery. It’s time to switch to direct registration and make the process easier for future users.

1 Like

I support end of auction system
some people try to game the system and make the auction last longer
and sometimes, when we are not with our PC, we just miss the auction time and it becomes demerit

Auction hurts and open for manipulation,

I support this. I think initially it made a lot of sense as many people would have gone for same domains. We might have gone through that time frame and everyone is now looking for their unique domain names.

I support, however you will be losing out on the fomo of the auction and subsequent fees for FIDA. Perhaps overall its not a material difference.

give the option? buy it now or auction?

@mjp Auctions will remain available for resells. Direct registration would only be for domains that have never been registered.

ah thankyou! super support

totally support this ! great job

I support this.
There will be more people involved.

Totally support this.

OK. I think it’s a timely and great idea.

I think we should stick with the current auction system.

Sounds great! Lovely

So we will not have static style auctions like nfts have? -.-

If we aren’t switching the entire system for both new/old domains then i agree we should just stick with the current system.

Hey @bonfida, thanks for considering feedback from the community. I’m FOR for this proposal but want you to identify some points.

-Please explain the term ‘‘enough support on the forum’’. Is it related to the number of participants registered to the forum or replies to this post or anything else?
-Do you plan to store some specific .sol domains before changing the registration process? Or in other terms, how do you think to give .SOL domains for future Bonfida partners and/or marketing partners? RESERVED BY BONFIDA
-Do you have a plan to compensate for the loss on FIDA BUY & BURN program that comes from auctions proceeds?

I support this.
You could setup a poll here to get votes.

I support this.

Just so others understand - this is a removal of the requirement to put your newly created domain up for auction for 3 days so that others have a chance at YOUR domain that you just created. This would be replaced with the ability to immediately buy your new domain name. Just like all other domain systems work.

Of course you will still be able to auction your domain resells - as you can now. And you can add a buy now option to any domain name currently as well. That will not change.