Proposal Details

Proposal #243

Passed

Proposal title

Stargaze Names Renewal Update

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

99.77%

Proposal #243 description

It has been a year since Stargaze Names launched, with significant adoption and use by the community (12k+ Names minted, by 6k+ wallets). Names have an inherently social aspect, fitting Stargaze’s essence very well.

Let’s recap what the Names proposal consists of, for Renewals and Annual Auctions :(https://commonwealth.im/stargaze/discussion/7401-stargaze-names-ibc-name-service-contract)

There is a 0.5% fee of the top bid, or minimum fee based on a number of characters. Right now, fees to mint a Name are the following:

5+ characters = 100 STARS 4 characters = 1,000 STARS 3 characters = 10,000 STARS

After reviewing the current setup for renewal, it becomes clear that the 0.5% fee will never be achieved unless the bid is very high (20k STARS bid for a renewal of 100 STARS, 2M STARS bid for a renewal of 10k STARS), leaving all renewals tied to the base mint fee depending on the character count. That means Name owners would have to pay the mint fee every year.

It could also be gamed towards making small bids to pay 0.5% instead of the current base mint fee.

Stargaze team would like to propose the following:

  • Let everyone keep their Names without renewal if there are no bids.
  • If there is a bid, the renewal fee would be 5% (instead of the original 0.5% proposed) of the top bid.
  • Cap annual fee at 10k per year

That means the Names will remain with their owners as long as no bids are made, and will need a renewal only if there was a bid on it. This achieves the market-based approach vision for Names, instead of arbitrary renewal fees.

Currently, 274 Names would need to pay the renewal if this proposal passes. If this proposal does not pass, 12k+ Names (all) would pay the base mint fee renewal.

Proposal #243 overview

Total votes
4,427
Voters
4,343
Total deposit
50,000 STARS

Proposal #243 votes

#

Validator

Account Address

Options
1DSRVYes
2WhisperNode 🤐Yes
3SGTstakeYes
4Hathor NodeYes
5Easy 2 StakeYes
6InterblocYes
7StakecitoYes
8Frens (🤝,🤝)Yes
9KeplrYes
10Cosmos Spaces ☮️ 💜 ⚛️Yes
11Bro_n_BroYes
12Citadel.oneYes
13WitvalYes
14Virtual HiveYes
15pen.soYes
16silentYes
17Empower Validator ♻️ | 20% to plastic waste cleanupsYes
180base.vcYes
19Cypher CoreYes
20a41Yes
21rektDAOYes
22CosmostationYes
23web34everYes
24Bit Cat🐱Yes
25NoderunnersYes
26CosmologyYes
27PoS NodeYes
28Bloclick | autocompound on restakeYes
29mahofYes
30Oni ⛩Yes
31FreshSTAKINGYes
32NITAWAYes
33ArcpoolYes
34Coinage x DAICYes
35🦊 The Silver FoxYes
36AllnodesYes
37n1stakeYes
38UniqNodesYes
39Chorus OneYes
40Meilen Fren :) StakingYes
41GATA DAOYes
42ValiDAOYes
43StakinYes
44CryptoCrew Validators ✅Yes
45PUPMØSYes
46Ubik CapitalYes
47testovichYes
48BlackhoxYes
49dreamstakerYes
50OranG3cluBYes
51ushakovYes
52Smart Stake 📈📊Yes
53OldcatYes
54KingSuperYes
55StakerHouseYes
56Stakewolle.com | Auto-compoundYes
57ch0pch0pNFTYes
58Army IDsYes
59StakeAngleYes
60NakoTurkYes
61POSTHUMAN ꝏ DVSYes
62Imperator.coYes
63QuebecYes
64Broxa ⚛️ - Ru-Speak Community / SUNREN 🌤️🐳Yes
65KleomedesAbstain
66Kalia NetworkYes
67STAKECRAFTYes
68✪ramuchi.tech✪Yes
69GraviDAO Community with Slashing ProtectionYes
70MantiCoreYes
71D-StakeYes
72TuzemYes
73alkadetaYes
74SydYes
75polkachu.comYes
76CryptoDungeonYes
77AutoStake 🛡️ Slash ProtectedYes

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