👉👉👉 Base introduces #ENS subnames for users, plans fair launch via Dutch auction
Base Launches Basenames on Ethereum, Simplifying #Onchain Identities
Base, the Layer 2 network on Ethereum developed by Coinbase, is introducing Basenames—subnames created through the Ethereum Name Service (ENS) infrastructure. This new feature allows users to transform their complex hexadecimal addresses into easily recognizable, human-readable names.
According to Base’s official website, Basenames will serve as “a core onchain building block that enables anyone to establish their identity on Base.”
ENS subnames are created under an existing ENS domain, similar to how subdomains work on traditional websites. These subnames allow for the management of multiple ENS identities under one parent name. For example, if someone owns the ENS domain base.eth, they can create an unlimited number of subnames, like bob.base.eth.
When Basenames launches, users will be able to purchase and claim these names through a Dutch auction. The auction will last 36 hours, with the starting price at 100 ETH, gradually decreasing to 0.39 ETH over the first 12 hours. Once the auction concludes, the premium fee will no longer apply.
Jesse Pollak, Base’s lead, announced on X that Basenames will officially launch on Tuesday. He added, "We're going to make Basenames the easiest way to get started building (or living) onchain."
Source - theblock.co
