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In recent years, with the growing popularity of the Ethereum Name Service (ENS), NFT-based domain systems have brought a whole new level of sociality to the crypto economy via human-readable addresses.
With the introduction of today’s new Name Wrapper system, the ENS landscape is especially ready to: even more Flexibility and functionality will allow users to manage their domain names more effectively, opening up many new use cases in the process.
So, in today’s post, let’s dig into the basics of this novel system and why it has so much potential in web3!
-WMP (or rather, wmp.eth?)
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A recent proposal for ENS DAO, EP 3.5which received 2.6 million endorsement votes, went into effect today and kicked off an upgrade to several major ENS smart contracts, most notably the “Name Wrapper” system.
There was a wave of excitement in ENS circles as this upgrade made significant progress in the ENS subdomain management process.
The new ENS Name Wrapper system allows users to convert their ENS subdomains to ERC1155 NFTs while setting different levels of ownership by burning a “fuse”.
Unlike previous subname issuance methods that had no NFT status or transferability and ownership could be revoked by the issuer, name wrappers offer customizable features and protections to subname holders.
Again, “fuse” represents one of many permissions specific to the ENS name. By burning a fuse, the name owner (aka “parent”) can revoke certain privileges, such as making a subdomain NFT (aka “child”) non-transferable.
Thus, fuses affect the relationship between names and subdomains, and once the fuse is burned, the action cannot be undone until it expires. Indicates how long the fuse is valid.
When the expiration time is reached, all fuses are reset and if the name is in the ‘released’ or ‘locked’ state, ownership of the name may be lost. This is because names can exist in different states, such as: Unregistered, Opened, Wrapped, liberatedand lockedA freed name prevents the owner of the parent name from replacing subnames or burning additional fuses, whereas a locked name cannot be unwrapped, so the owner likes it. You can control the fuse like
That said, each state clearly defines the level of control over names and their transferability. As such, the new Name Wrapper system offers extensive customizability, allowing users to effectively manage their domain name privileges.
The possibilities are endless when it comes to Name Wrapper, but we’ve already got a feel for some simple use cases that you’re likely to see soon.
for example,”Learn more about ENS name wrappersOne interesting option is to have the ability to create subdomains in bulk and drop wrapped NFTs into other people’s wallets (such as DAO members and NFT collection owners).
Another possibility serenae.eth pointed out is the new wave of selling or renting subnames. This means that a subname registrar contract can be created to handle registrations and updates, and users can manipulate this contract to register their own subnames.
In this scenario, consider how to burn a fuse and set limits so that you can either sell the subname forever and keep it for as long as the buyer wants, or rent the subname and give the lessee the ability to renew the contract. Determines whether the can be called temporarily. rental.
Name Wrapper is now live on mainnet, so technically it’s already ready to go. wrapping nameHowever, a user-friendly admin interface will officially launch soon, greatly streamlining all aspects of the wrapping process. ENS again Ends Dao.
The ENS Name Wrapper system is poised to revolutionize the way users work with domain names on web3. From facilitating event ticketing to easily selling desirable subdomains, things will start here as the first wave of people and projects embrace this new technology, paving the way for further experimentation. It will be even more interesting!
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Examine ENS name wrappers: learning the basics of now Lots of interesting possibilities 🤯
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If you missed it, please read the previous article: NFT ABCs 🔤
William M. Peester is a professional writer and creator of metaversal— Bankless newsletter focused on the emergence of NFTs in the crypto economy. Recently, we also provide content to Bankless, JPG, etc.
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