Punk Domains and Flare have partnered to launch additional domain name extensions and integrate domain names with Bifrost for easy mining and fund transfers. This partnership involves the decentralized domain name service Punk Domains collaborating with the Flare Layer-1 blockchain. As a result, thousands of registrations have been received for new domain name extensions such as .FLR and .SGB. #FLARE #FlareNetwork #PunkDomains
Domain Name Extensions:
Previously, Punk Domains launched extensions like .kilma in collaboration with klimaDAO and others like .smol for the Arbitrum-based Smolverse NFT world. Other associated extensions include .dope, .giveth, .ppl, .pool, and .fantom. Each domain name serves as a label for a blockchain address, and users can use them to represent their profile information or identities.
Bifrost Integration:
The partnership between Punk Domains and Flare includes the integration of domain names with the Bifrost wallet. This enables Flare users to easily create domain names and perform fund transfers. Additionally, Punk Domains will integrate with the Flare Time Series Oracle (FTSO) to ensure that price fluctuations in SGB and FLR do not impact fixed domain name prices.
Flare Time Series Oracle:
The FTSO operates by gathering external information provided by independent data providers. These providers source data from crypto exchanges and relevant sources, which they then submit to the oracle. Each provider's submission is weighted based on their stake, as determined by Flare (FLR) token holders. Price predictions are then published on-chain. Through this process, Flare ensures the decentralized and unbiased publication of information.
Punk Domains and Songbird:
The founders of Punk Domains express their appreciation for the support of the Songbird community, stating that they drew inspiration from it to develop more tools. Punk Domains launched a decentralized social network called SGB Chat on Songbird. This open-source network provides users with access to DeFi tools, including token swaps, and allows content creators to earn money without the fear of censorship or demonetization.
In summary:
The partnership between Punk Domains and Flare aims to make domain names more usable across multiple blockchains and facilitate easy fund transfers. The Bifrost integration and use of FTSO allow users to have easier access to the information associated with their domain names and acquire fixed-price domain names without being affected by price fluctuations. Additionally, Punk Domains' collaboration with Songbird contributes to the ecosystem by providing a decentralized social network and access to DeFi tools.