What are .dsy Names?
A Name is a human readable alias for an address like
The main fields a Name has is:
owner- The address that owns the name
destiantion- The address that name references, can be different from the "owner"
expiration_height- The block height the name will expire
price- Asking price, anyone can buy this name from the owner for this amount. And this asking price is used for calculating the Registration fee (1%). See Why do Names have prices?.
Names must be lowercase and end in
See the full spec in the proto definition in name.proto.
How are Names useful?
Name owners have several privileges, better subdomains and ability to mint native coins.
Also Names can be used to verify your Discord account to get an advanced role.
What do URLs look like with a Name?
By defaul all Scripts are hosted at a subdomain of the address like:
But with a name, for exmaple
example.dys, you can use the shorter, easier to rememeber subdomain:
And the Script page on the dashboard:
How long is a Name registered?
Currently Names are registed for 31,536,000 blocks as calculated by block height of the registration or extension transaction.
The registration and extension time is not prorated. It is 31,536,000 blocks (a little over 1 year) from when the transaction was sent. If a Name was registered 2 days ago and I want to change the price using names/sendMsgSetPriceAndExtend, the new
expiration_height will be 31,536,000 blocks from now.
Why do Names have prices?
Names are paid for using a form of Harberger Tax which funds the Community Pool. Specifically Names are registered for ~1 year and pay 1% of the asking price to the community pool. At any point before the expiration the Name can be Extended with a new asking price and pay the fee of 1%.
- Alice registers example.dys and sets a price of 100dys (the minimum)
- Alice pays 1dys for the registration which goes to the Community Pool
- The example.dys will expire in ~1 year
- Before the expiration Alice extends the Name and updates the asking price to 2000000 dys (two million)
- Alice pays 20000dys (twenty thousand is 1% of 2000000dys) for the Community Pool
- Bob sees that example.dys is a good name for his project
- Bob buys example.dy using names/sendMsgBuy
- Alice receives 2000000dys from Bob
Why ~1 year and no rebate or prorating?
Dyson may be the first chain to implement a Harberger Tax natively in the protocol for digitally scarce goods.
This is very different from pure property rights like Namecoin (and the subsequent squatting problems they have).
- The goal is for people to be forced to review the price they have set and deliberately set the optimal price again to minimize surprises if someone buys it.
- It is easier to reason about: ~1 year. No rebates. There is no opportunity for someone to accidentally pay for a decade and empty their wallet.
What is a good price?
A good price is one that you would be happy to sell the name for.