This post is part of a larger effort to discuss potential features to be included in an upgraded version of BNS. Please see the megathread for more information.
Proposal: implement changes to the pricing function for
The current pricing formula for
.btc names is a flat 2 STX registration fee, with an expiration period of 5 years. At the current STX exchange rate, that’s a $1.50 USD registration fee, or only $0.30 per year.
The goal of this proposal is to start a discussion around whether this pricing formula should change, and if so, what the new price should be.
There are various ways the pricing formula can change:
- Change the namespace’s lifetime (expiration period) from 5 years to a shorter period, such as 1 year
- Change the pricing formula so that shorter names cost more (in line with other namespaces)
- Change the pricing formula so that the “base rate” (even for longer names) is higher
Any or all of these mechanisms can be applied to modify the pricing formula.
While this change would result in higher fees for existing
.btc users, it could result in a better market dynamic, where names are less easily squatted. It will inhibit future registrations that are purely intended for squatting, and would inhibit existing name owners from perpetually owning too many names.
The consequence of having too low of pricing is likely to reduce the long-term viability of
.btc as a namespace. It may have worked well when the namespace launched, but as
.btc grows in popularity, it will result in a market dynamic that is over-emphasized to reward early registrants.