👜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.

Length	ANS
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.