👜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.

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