Solana Name Service to support additional currencies for domain name registration

Hey Everyone!

Hope you are all well.

As you have been made aware, you can now use USDC, SOL, SRM and RAY to register domain names via Jupiter Aggregator. This lowers barriers to purchase .sol domain names by allowing payments in different currencies.

If you have not yet seen it - you can refer to this forum post and tweet for context.

This has been a welcomed change by our community members.

As a result, we are wondering whether you would like to include additional currencies for registration via Jupiter Aggregator?

If so, let us know in this thread what currencies you would like to see included. Hope to hear from you!

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Definitely SolDoge, it’s on the Solana network, tx cost is .0009, tx speed is .8 of a second, and energy per tx is 1,837 J. The community is awesome too! Thank you for reading my comment!

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An obvious one would be USDT. Maybe other coins like MNGO, COPE, UST make sense?

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support such a proposal. But it should have a slight impact on the fida currency price

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@bonfida USDT makes sense since I found a lot of times when I tried to buy FIDA with USDC, the best price by Jupiter is not USDC-FIDA pair but USDC-USDT-FIDA. Guess USDT is used more still.

Another one would be MIM in the future considering they are also coming over to Solana soon.

Hi @moon and @975e2e70ac03416d :wave:

Great to see your opinions on this!

If you weren’t aware already, the DAO vote for this proposal was opened today. Feel free to put your gFIDA to work and place your vote here:

https://realms.today/dao/FIDA/proposal/CAq1s8G6SeAtgpfkr6xGnHrSQbhD56WQbWdvSKfEYTBt

Solana Doge list it and stop removing my post.

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Perhaps listing soldoge would be better

@bonfida does this mean we can now price secondary sales in other currencies?

I bought FIDA at > $9 after it became mandatory for buying domains. It’s now around $2. Hope you can understand why I would prefer to use stable coins to price my auctions.

Bonfida hedges its currency risk by charging a flat USD amount converted to FIDA. Surely users should have the option to do the same.

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I think it would be cool to be able to price secondary sales in USD as it once was. The fees could still be converted to FIDA for burn. And I think that people would probably pay more for resells if the pricing was in USD. It seems like ever since resales went to FIDA and then FIDA dropped in value people pay the same number of FIDA coins for names but they are now $2.4 per coin instead of $7-$9. I would bet that domains listed for $100 would sell more often than domains at 40 FIDA. And the uncertainty of FIDA price would be removed from the minds of those holding SNS names.

I actually think FIDA is on the way back up but I still think it would be cool to have resells set in USD and then you can use FIDA, SOL, or USDC etc… to purchase resells.

Seems like a win win all around to price in USD for secondary sales. Get more FIDA burning because there would be more sales of higher amounts per domain. Offering stability to domain value with USD pricing all around and the ability to convert SOL, FIDA, USDC, and others adds to purchase options - brings those sales.

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The current auction system is based on the Metaplex auction program. I kinda want to move away from it because it’s not really adapted to what people actually want. Started building an in-house program that will give more flexibilities including:

  • Easily manage offers in any quote currency
  • Allow unsolicited offers i.e you can place an offer even for domains not being auctioned and the owner could accept any time
  • List at a fix price
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The current auction system is based on the Metaplex auction program. I kinda want to move away from it because it’s not really adapted to what people actually want. Started building an in-house program that will give more flexibilities including:

  • Easily manage offers in any quote currency
  • Allow unsolicited offers i.e you can place an offer even for domains not being auctioned and the owner could accept any time
  • List at a fix price

This sounds great. I believe it would increase size and frequency of secondary sales, too. Look forward to hearing more about it.

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As long as there is a “Ending Soon” page still. That’s really is where a lot of the fomo is and where most of my sales come from.

Letting people make offers on domains that are listed or not - will be huge.

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