According to BlockBeats, Coinbase's Layer 2 network, Base, announced on social platform X that it will launch Basenames, a subdomain service based on the Ethereum Name Service (ENS). Basenames aims to simplify on-chain activities by allowing users to apply for unique base.eth usernames, facilitating the establishment of their on-chain identities. The service officially launched early this morning.
Basenames operates as subdomains under existing ENS domains. ENS allows users to create subdomains under a parent ENS domain. In a March 2023 update, ENS introduced the name wrapper feature, enabling any level of ENS domain to be wrapped as ERC-1155 tokens, with subdomains functioning as individual NFTs. This update also provided more granular control over subdomains, including expiration and permission management, enhancing the flexibility of ENS domains. According to Base, Basenames will allow any ENS domain owner to create and manage unlimited sub-usernames, personalized with the base.eth suffix.
Base also announced that Basenames will be sold through a Dutch auction mechanism to ensure fair access for all users. The price will gradually decrease over 36 hours, starting at 100 ETH and dropping to 0.39 ETH within 12 hours. After the auction ends, no premium fees will be charged.
Additionally, the identity aggregation protocol Base Name Service (BNS), provided by Orange DAO and long operating on the Base chain, will gradually be phased out. BNS announced on platform X that it has been working closely with the Base team, and with the launch of Basenames, BNS will be discontinued to ensure a unified naming service and on-chain identity experience for all users on Base.
