Share on Twitter
Share on Facebook
Share on Reddit
Share via Email
Share on LinkedIn
Share via RSS
Share on Google+

Chinese blockchain developer, NewEconoLabs, has launched NEO Name Service (NNS), a domain name service for the NEO blockchain, on the NEO MainNet. NNS offers users easy-to-remember domain names ending in “.neo”. Auctions for domain names started on October 9th, 2018, and are ongoing.

Reached for comment, NewEconoLabs founder Liu Yougxin stated that “The number of domain names started is more than 10,000 in a few days after its MainNet launch. Currently, it is the most used DApp on NEO.”

Domain Name Mining

Additional “domain name mining” rewards (either 70 NNC or 50 NNC per GAS, that is spent on a winning bid, depending on the auction’s starting date) remain active through October 22nd, 2018. During this period, domain name winners will earn extra NNC tokens for each GAS spent to acquire a domain name through auction. Wallets holding NNC tokens will receive a share of the GAS spent to purchase domain names at auction. The total supply of the NNC token is 1,000,000,000.

Domain Name Auctions

The NNS domain name auction completed over 9,000 domains in its first week of bidding, and has since surpassed 10,000 registrations. Over 5,000 domain auctions are currently live, as of October 16, 2018. Auctions last a maximum of five days. The “distribution pool” of GAS as of this writing, to be divided amongst NNC holders after October 22nd, 2018, is approximately 18,000 GAS.

Highest .neo Bids

Most of the highest-priced bidding has taken place in the first days of the NNS auctions. The top 10 most expensive .neo addresses thus far are as follows:

1. wallet.neo — 1035 GAS
2. crypto.neo — 1026 GAS
3. yloveq.neo — 500 GAS (live auction)
4. paypal.neo — 386 GAS
5. google.neo — 318 GAS
6. news.neo — 269 GAS
7. andrew.neo — 235 GAS
8. hi.neo — 234 GAS
9. neo.neo — 217 GAS
10. fang.neo — 176 GAS

O3 Wallet Support

Japan-based O3 Labs announced .neo address support for their mobile and desktop wallets on October 15th. NEL founder Yongxin further commented, “The O3 wallet has taken the lead in integrating NNS. At the same time, the functions of NNS will continue to improve, and more wallet clients will integrate NNS. We hope that NNS will continue to be used by more.”

Yongxin added, “We will continue to develop other dApps to enrich the NEO contract ecosystem.”

More information on the NEO Name Service and NewEconoLabs can be found by following the links below.