How ENS Name Wrapper can turn domain squatting on its head
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A 🧵.
Currently, ENS trading activity is bustling.
Users are buying ENS domains expecting to sell them for a hefty profit.
Users are buying ENS domains expecting to sell them for a hefty profit.
The ENS Name Wrapper allows turning ENS names into ERC1155 NFTs.
Meaning that a wrapped eth. parent domain will be able to set permissions or rights to its subdomains.
ENS wants to apply this not only to eth. domains but to the entire internet domain system.
Meaning that a wrapped eth. parent domain will be able to set permissions or rights to its subdomains.
ENS wants to apply this not only to eth. domains but to the entire internet domain system.
For example, a user can create the domain "example.eth" and allow the creation of the subdomain "one.example.eth" but disallow any further creation of subdomains.
This set of permissions is called fuses and allows granting more rights for a subdomain such as:
- Create more subdomains
- Ability to transfer a subdomain
- Inability for the ownership to be revoked
- Create more subdomains
- Ability to transfer a subdomain
- Inability for the ownership to be revoked
More fuses can be created and existing ones can also be enabled or disabled permanently.
This brings more clarity and decentralization to ENS trading since anyone can see what rights are attached to a specific eth. subdomain and price it accordingly.
This brings more clarity and decentralization to ENS trading since anyone can see what rights are attached to a specific eth. subdomain and price it accordingly.
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