Basenames goes online, BNS is gradually discontinued: Base chain identity service enters a new stage

Original title: "Base Chain launches ENS-based domain name service Basenames (base.eth), BNS will be gradually shut down"

Original author: Zhang joy, BlockTempo

Base, the Layer2 network of Coinbase, the largest cryptocurrency exchange in the United States, posted on the social platform X yesterday (20) that the Base chain will launch a subdomain Basenames based on the Ethereum Domain Name Service (ENS):

"Basenames is the fastest way to start building on the Base chain, and we will launch it soon.

Users can apply for a unique base.eth username to conduct activities on the chain in an easier and more convenient way.

We can't wait to see you start building your on-chain identity."

Note from the dynamic zone: Basenames It has been officially launched at more than four o'clock this morning. For how to use, fees, discounts, etc., please refer to the official website.

Basenames is a subdomain based on ENS

We know that the Ethereum Name Service (ENS) allows users to create subdomains on an ENS parent domain.

In the update in early March 2023, ENS also launched the name wrapper function, which allows existing ENS domains of any level to be wrapped as ERC-1155 tokens, and subdomains can be stored as separate NFTs; in addition, the parent domain can manage and control the subdomain more finely, including expiration and permission granting, etc., bringing more flexibility to ENS domains.

According to the official introduction of Base, Basenames is a subdomain under the existing ENS domain. After the official launch, any ENS domain name owner will be able to create and manage an unlimited number of sub-usernames and name them in a personalized way (ending with "base.eth").

Image source: Basenames

Basenames will be sold through a Dutch auction mechanism

At the same time, Base officials added that Basenames will be sold through a reverse auction mechanism to ensure that all users have a fair chance to get the name they want:

"(For example) the price will gradually decrease within 36 hours, starting at 100 ETH and requiring a premium fee, and will drop to 0.39 ETH within 12 hours; after the auction, no premium fee will be charged."

BNS announced to be gradually discontinued

In addition, the identity aggregation protocol Base Name Service (BNS) provided by Orange DAO, which has been running on the Base chain for a long time, also stated on the X platform that BNS will be gradually discontinued, and Basenames will be the next chapter of identity on the Base chain:

"Today we have important news to share with the community. We have been working with Base The team is working closely together, and as the launch of Basenames approaches, BNS will be gradually decommissioned to ensure that everyone on Base can get a unified name service and on-chain identity experience. "

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