Solon Twitter Space: ENS Subdomains and Their Utility (9/20/2022)
Key points from Solon’s Ethereum Name Service (ENS) Twitter Space. Listen to the entire space here!
Utilize Subdomains via ENS (4:50)
Users can create unlimited versions of their ENS-based subdomains (for example, Jon.solon.eth or boule.solon.eth) that could be used for payment, hosting a website, or essentially anything that can be done with a regular ENS domain.
Subdomains allow you to build on top of your .eth domains at a very low cost (just pay for gas!). Right now functionalities such as subdomains are restricted to what we know about the technology, but over time people will find ways to innovate and build on the tech!
Look out for Solon subdomains in the future, and snap your favorites up before they get taken by others!
Are Subdomains Tied to NFTs or Your ENS Domain? (12:45)
ENS domains and subdomains are individual NFTs. Think about how companies have email addresses and tie employees’ names to their personalized accounts (Bob@nike.com). This is very similar to how subdomains work in tandem with regular domains!
Practical Use-cases of ENS Domains (21:30)
As of now, options are limited but it is fully expected that over time ENS domains will have a wide variety of use cases. Right now, the most common and valuable use case is as a substitution for wallet addresses. While this is a simple switch, it can drastically reduce friction and stress when interacting with crypto wallets.
An additional use case is using your ENS domain to host a decentralized website. The biggest value-add here is cutting out middlemen that would increase friction and add costs. This can be done with subdomains too!
What Utility Would a Solon Subdomain (example.solon.eth) Provide? (49:15)
When the Solon protocol is deployed, each user will be able to claim 1 Solon subdomain for free (minus the gas fee). These subdomains will act as a user’s profile (users would be able to purchase as many as they want). Additional tokens would be purchased using Solon tokens, thus burning the total supply as users purchase additional subdomains.
In the future, Solon subdomains will allow you to call, text, and FaceTime people in a totally decentralized fashion. It can also be used as a wallet address or as a landing page. Solon’s goal with this addition is to allow users to innovate as much as possible!
“Aging as a Service” Companies in the Future? (1:30:00)
In the future, we may see companies that are specifically designed to redesign interfaces for consumers based on what they are most accustomed to. Making new products and technology useful looks a lot different for a 20-year-old compared to a 60-year-old. Thus, companies must begin to cater different experiences to different customer segments.
Crypto and web3 is a great example of how this type of company could be useful. Many people don’t have the time, energy, or technological skills to learn things like how to read smart contracts or use a crypto wallet. A company that can crack delivering those experiences to customers in the most seamless way can skyrocket mass adoption levels.
Value Propositions in Web3 (1:44:45)
Right now a lot of projects in the web3/NFT space are delivering very little innovation. Protocols that will hold value and be worthwhile for consumers will either create technology that can’t be replicated in web2, or technology that significantly improves the user experience and reduces the financial barrier to entry.
Part of the reason for this is that this technology is just so new and still getting off of the ground. In due time, creators and builders will find a nearly unlimited number of ways to innovate and bring value to everyday consumers.
The most valuable applications will be the ones that change the game.
You Can Learn Without Losing First! (1:48:00)
A common saying in crypto is that you learn the most by losing, such as falling for a scam or sending money to an incorrect wallet. Let’s kill this narrative! No one should have to feel like they aren’t learning unless they lose out on something.
It’s important to take the time to research and understand crypto and web3 before diving in. But don’t be scared to start because of the fear of making mistakes.