Butterfly Protocol: The Path Forward
The Butterfly Protocol is a significant advancement toward a decentralized internet. As a DAO (decentralized autonomous organization), it is intended to be a self-managed protocol where all have access to the tools and capabilities it offers. At the same time, the governance around which tools are valuable for the community needs direction. For the last three months, Butterfly has concentrated on launching the basic auction and in expanding the ability to fully control a TLD (Top-Level Domain) with a buyout using 100,000 BFLY tokens.
The main players in the Butterfly competitive space are Unstoppable Domains, ENS Domains and Handshake. All are formidable with good resources and direction. Butterfly is similar with one of the main differences in that Butterfly offers the ability for anyone to sponsor a TLD. You simply buy enough BFLY tokens and request to sponsor. This can be achieved in two different ways.
1. Sponsor a community TLD with just under 9000 BFLY (and decreasing) for the good of the community and to acquire a significant number of the subBFLYs. This is handled in the app on the website.
2. Sponsor a fully owned TLD with 100,000 BFLY and get control over all the subBFLY for that TLD and basically control everything downstream. This is by request.
I personally have done both but prefer the second option. It is expensive but now I can completely control all domains under the TLD I have sponsored so far (.LERN and .ARTIST) and can even create my own “registrar” to sell domains. I could set each up to compete directly with ENS or Unstoppable if I want to be in the blockchain domain sales arena. Or I can use the TLD and domains to drive a different business objective. Or both. But rather than do it alone, we will build this into the Butterfly offering mix for anyone to sell the domains they control.
For Butterfly, both scenarios are positive, but the next step is in the creation of tools similar to what Unstoppable and ENS have. Wallet integrations, browser extensions and integrations and so-on. The world is looking for the solutions that blockchain domains can provide for keeping us protected from total centralized control.
Butterfly gives the ultimate in flexibility and control for domain use in a decentralized internet. Help us populate the list of TLDs! Spread the word and contact the team at info@bproto.io
