Base is rolling out subnames based on Ethereum Name Service (ENS) infrastructure.
Known as Basenames, these will be offered through a Dutch auction.
Base, a Layer 2 network on Ethereum developed under Coinbase, is launching Basenames â subnames created through the Ethereum Name Service infrastructure, enabling users to convert their complex hexadecimal addresses into human-readable names.
According to the official website, Basenames will be âa core onchain building block that enables anyone to establish their identity on Base.âÂ
ENS subnames are names created under an existing ENS (parent) name. These are typically used to enable the management of multiple ENS identities, akin to subdomains on traditional websites.
Any ENS domain owner, such as base.eth, can create an unlimited number of subnames or subdomains. The owner of the parent ENS name creates and manages these subnames. In this case, a user named Bob can register a basename bob.base.eth.
When Basenames launches, all names will be listed via a Dutch auction for users to purchase and claim, with prices decreasing over 36 hours to give everyone a fair shot at securing a particular name, Base noted.Â
Basenames, the fastest way to start building on Base, are coming soon
Claim a unique base.eth username to make it easier to connect, collaborate, and contribute onchain
We canât wait to see how youâll build your onchain identity pic.twitter.com/7sMSZ7kYF0
â Base (@base) August 19, 2024
The premium fee will start at 100 ETH and decrease to 0.39 ETH over the first 12 hours. Once the Dutch auction ends, no premium fee will be applied.
Baseâs lead, Jesse Pollak, stated on X that Basenames will launch on Tuesday. âWeâre going to make basenames the easiest way to get started building (or living) onchain,â he added.
basenames launch tomorrow
we're going to make basenames the easiest way to get started building (or living) onchain. you want one. https://t.co/pv1P1f56Qd
â Jesse Pollak (jesse.xyz) (@jessepollak) August 19, 2024
