ANS Token
How the ANS token works.
We have a token called ANS, with an initial supply of zero.
Creating and renewing a Name which has length > 8 will mint new ANS tokens.
Creating a renewing a ANS <= 8 will cost increasingly more ANS tokens.
1
costs 800 ANS
2
costs 700 ANS
3
costs 600 ANS
4
costs 500 ANS
5
costs 400 ANS
6
costs 300 ANS
7
costs 200 ANS
8
costs 100 ANS
9+
prints 1 ANS
In this way, the Name ecosystem becomes self balancing where short names can only be minted once a large number of longer names have been minted. They would need to buy ANS on the open market, giving value to the token.
Minting an Name NFT requires 0.2 $ALPH deposit and Names cannot be burned until they expire. This cost is for on-chain storage and is returned once the Name expires. This gives ANS a base value of 0.2 ALPH. Which means a length 8 name would have a cost of about 20 ALPH initially.
There is no central team earning money from this service.
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