After feedback from the community and internal discussions within the team, SNS will gradually support other coins to pay for domain name registration fees. The first coin to be supported is KEY (Linkkey project token).
Meanwhile, based on the goal and principle of continuously expanding the number of SNS users, we have made the following pricing for KEY domain name registration.
A domain name registration fee is priced at 1 KEY, and is expected to go live on March 23-25 for KEY token payment.
The official team will adjust the pricing from time to time according to the community & market feedback. In the future, LinkkeyDAO will take over the proposal to decide the registration fee pricing, and users holding KEY will automatically become voters who can participate in the voting.
Using KEY for personal domain name registration, we will transfer 70% of the registration fee (i.e. 0.7 KEY) to zero address to achieve 70% of the registration fee destruction.
This slows down the rate of KEY increment to a certain extent, and the KEY that stops incrementing after 3 years will be destroyed according to the destruction mechanism to achieve KEY token deflation.