Unstoppable Domains - claim fees waiver - Polygon L2

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2 years ago

I had recently wrote an article on step-by-step guide on how to buy a Blockchain domain name from Unstoppable Domains check it out Here

Also you can check my explanation article Here

Claim fees for your domains

Since domain names from Unstoppable Domains are NFTs on the blockchain, you need to interact with the blockchain through smart contract to claim them into your wallet like metamask, also to do anything else like add wallet or set up website.

This created an issue with the Gas fees and since almost all of the domain extensions are on Ethereum (except .zil) this meant a hell lot of Gas fees as ETH which can go as high as $60-70 at present ETH rate.

You can see why that is a problem.

Layer2 solution

Unstoppable Domains had promised fees waiver a long back and was suppose to be implemented in August this year, it wasn't.

But better late than never, they have finally announced the layer2 Polygon implementation and roll out on 15th November 2021

Now claiming and setting up the domains won't be as expensive, as they are promising it for free.

As you may be aware that on Polygon the native token is MATIC and very little of it can do hundreds of transactions. With cost that would come to just a few cents.

This is great news

Polygon implementation

As per the post by Unstoppable Domains the unclaimed domains can be claimed on layer2 and at later stage the already claimed layer1 domains can also be moved to layer2.

What this means?

Essentially that you can claim your domain on Polygon blockchain now and those domains will be on Polygon and since it is also integrated on OpenSea.io you can sell them there at fraction of a cost as well. As well as set up a website or link your supported Crypto wallet to domain name without burning high ETH Gas fees.

Is Polygon right choice?

Honestly, I don't know.

The think is the benefits of functionality are there and on polygon you can easily and cheaply set up a lot of things.

But, when it comes to NFTs as a market most people thing of Ethereum even though it isn't that efficient.

The perception is there and I don't know how will it effect the after market, however that being said the post by Unstoppable Domains does say that in last stages of implementation you can move your domains back to Ethereum if you want to. So if that becomes functional it could solve the after market issue.

Source: https://unstoppabledomains.com/blog/polygon-l2-solution

What do you think?

Do you think Polygon is great?

Will it boost the NFT domain name space?

Do you own Blockchain Domain Names?

If not, the why not?

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2 years ago

Comments

First of all good Morning Dear dearest and Very nice friend . Have a Good Day, and i wish you would be there where successful people live and one day you will be on top in Shah Allah Ameen.

Through you're article I Know about NFT and smart chain and I added some point. Firsty coming days totally about cryptocurrency market and people ChaNGe just these type of coins like NFT Ethereum BCH Bitcoin cash etc Second this is great chance to return of money if it's going to loss in form of Ethereum

And I'm waiting for next article because many remaining information in next article

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Thanks, have a good day.

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