The DWEB token plays a central role in the Decentraweb ecosystem, and will be used for everything from payments for services to governance, DNS Validator Nodes, Staking and more.
How are we different from other Web3 Domain providers?
One of the biggest differences between us and other Web3 Domain providers is that we provide both Top-Level and Sub-Level Domains registrations using our technology. Whereas other Web3 Domain providers only provide Sub-Level Domain registrations from their top level domains, such as .eth. We empower anyone to create their own Top-Level Domains, allowing you to register .anything - the world is your oyster!
Another exciting difference between us and other Web3 Domain providers is that as the owner of a Top-Level Domain (TLD) through Decentraweb, you can mint as many Sub-Level Domains from your Top-Level Domain as you'd like. You can also opt to stake your Top-Level Domain, allowing others to mint their Sub-Level Domains from your Top-Level Domain, all while paying a fee per Sub-Level Domain that you set (hello passive income!).
Let's break down the potential opportunities of our technology for Top-Level Domain Holders who stake their TLD :
Step One : Mint a Top-Level Domain for $100 USD (receive 50% off when you purchase in $DWEB) Step Two : Stake your Top-Level Domain and set your fee per minted Sub-Level Domain that uses your Top-Level Domain Step Three : Other users can then mint as many SLDs as they like, paying the price you set per Step Four : You receive your funds in $DWEB or $ETH.
Another point of difference is that we provide Top-Level and Sub-Level Domains on the Ethereum blockchain. DNS is a critical base layer of the internet and requires the most decentralized and secure network and smart contract-enabled blockchain.
We must also note that all of our domains are truly decentralized, whereas other Web3 Domain providers deliver centralized solutions.
How does Decentraweb work and integrate with ICANN?
As it stands ICANN controls all domains. Your DNS (the thing that resolves IP addresses to domain names) is controlled by your ISP (by default). If you change your DNS in your browser or your home router to 1.1.1.1 (Cloudflare) or 8.8.8.8 (Google) you resolve DNS through these companies instead, but they still only resolve ICANN domains. With Decentraweb you either change your DNS resolver to one that supports both Decentraweb and ICANN domains, or you can run our browser extension that handles it for you.
We are making it so anyone can create a top-level domain (TLD). Currently on the centralized internet, ICANN is the only one who can approve this and it costs 185K USD per domain non-refundable just for an application to get them to review a new one (which they typically deny). Then it is an additional 29K a year just for ICANN to maintain the TLD.
By making a decentralized version of DNS (dDNS) and having the domains and subdomains on Ethereum, anyone can create a TLD if it doesn't already exist on ICANN (we want to be backwards compatible, so someone wouldn't be able to register .com, .net, .org, etc), and maintain it as an NFT (ERC-721) on Ethereum.
What is $DWEB and how do I purchase $DWEB?
The $DWEB is our ERC20 token and plays a central role in our ecosystem.
You can easily purchase $DWEB
How does $DWEB staking work?
Staking pools were enabled from Day 1 as soon as $DWEB launched.
There are 2 types of staking pools, each a separate staking contract and each with a different rewards structure.
Pool #1: Liquidity Provider Stakers (LP) - 45% rewards
Those who stake Uniswap LP tokens for providing liquidity to our Uniswap pool and token pair will receive 45% of all fees collected for purchases of domains, hosting, products and other services via Decentraweb.
Pool #2: $DWEB Token Stakers - 35% Rewards
Those who stake just $DWEB tokens will receive 35% of all fees collected for purchases of domains, hosting, products and other services via Decentraweb.
Why Ethereum and not Cardano, Solana, Algorand, BSC, etc?
We regulary get asked why you chose to have this project run on Ethereum, and not Cardano, Solana, Binance Smart Chain, Algorand (insert x chain here).
Reason: DNS is a critical base layer of the internet and requires the most decentralized and secure network and smart contract-enabled blockchain.
This is currently Ethereum. We cannot risk having DNS go down (for instance like Solana's 20 hour downtime), or being centralized (like BSC, where Binance and many Chinese entities run the nodes) and censored.
What format, and how will my TLD be assigned to me?
All domains and subdomains on the Decentraweb network will be registered as NFTs (ERC-721) on Ethereum. This allows for these domains and subdomains to be easily bought/sold/traded on any NFT-based marketplace.
We envision an open market where users can register any TLD (top-level domain) such as a keyword for example .apartments, and then sell subdomains of that keyword to interested parties (miami.apartments, nyc.apartments, etc).
This allows for anyone to essentially be their own registrar like GoDaddy, Unstoppable Domains, etc, and sell subdomains of a TLD!
Are there any fees associated with Decentraweb?
Each TLD bought through DecentraWeb will be $50 in $DWEB or $100 in $ETH per year (plus $ETH gas fees), offering a 50% discount to $DWEB users to incentivize use.
The max term of registration will be 5 years.
Users will have the opportunity to renew/extend the registration at any point in time.
Can I register top domains like .apple, .facebook, etc?
Current top domain names (like apple.com, youtube.com, facebook.com, etc) will be restricted from registration unless the buyer can prove they own the ICANN version. If you try to register .facebook for instance, the smart contract will verify you own the domain by asking you to add a txt record to facebook.com DNS with a random string we provide you. If you can't update the existing DNS record, registration won't continue.
This way we can avoid people squatting on top domains, and it also gives us a way to work with top brands/companies etc and get them into our ecosystem!
It's your world. Create it.
DecentraWeb is a decentralized implementation of the DNS base layer protocol on the Ethereum Blockchain.