meTokens are Integrated with ENS
A simple interface to connect your meToken with your ENS domain has been added to StakeOnMe.com. Now your community members can invest in you simply by sending ETH to your StakeOnMe.<YourDomain>.eth address. Instructions below.
Accessible dApps with ENS
The Ethereum Name Service (ENS) is the most user friendly ways to interact with Ethereum smart contracts and wallets today. ENS allows for anyone to register a human readable name, which can be used in lieu of the intimidatingly complex, default hexadecimal addresses.
For example, with ENS, if Bob wants to send Alice some ETH, he can just use Alice’s domain name instead of her full-length Ethereum address by inputting it in his favorite wallet’s “send to” input field.
Similarly, if an Ethereum project has their smart contracts configured to work with what are called “fallback functions,” then Bob can interact with decentralized applications (dApps) with just as much ease as transacting with Alice — he simply sends ETH to an address in order to trigger some on-chain activity within the dApp.
meToken takes advantage of fallback functions and ENS to make the prospect of investing in another person’s Synthetic Labor as easy as sending a transaction from any wallet at any time.
Introducing meTokens
Just as other Ethereum-based projects, such as MakerDAO, have successfully synthesized new digital assets, like their DAI Stablecoin, meTokens have emerged to create a comparably novel crypto-economic construction, called Synthetic Labor.
Synthetic Labor is a type of token which is tethered to a single individual and operates as a deed to that person’s future labor. It can be held to either (1) be spent with its issuer in exchange for their work or attention, or (2) held by speculators looking to return a profit if its issuer becomes more productive or popular.
More information about the crypto-economics behind meToken can be found in the meToken Game Theory document.
Using ENS with meTokens
meTokens are generated by an automated market maker (AMM), called a bonding curve. When a person decides to invest in the meTokens of another individual, they do so by staking some ETH on that person’s bonding curve. In return, the bonding curve issues the buyer some newly minted meTokens.
StakeOnMe.com is a dApp interface for meTokens. Users can go to StakeOnMe.com to create their own meTokens and to buy, sell, and spend the meTokens of other people.
In addition to being an interface for meTokens, StakeOnMe is also an interface for users to setup their own ENS subdomain for their meTokens. ENS subdomains makes investing in another person’s meToken as simple as sending a transaction to their StakeOnMe ENS subdomain.
If, for example, Bob wants to invest in the future potential of Alice, all he has to do is send ETH to StakeOnMe.Alice.eth. Sending ETH to Alice’s StakeOnMe address will automatically trigger Alice’s meToken fallback function, which will take Bob’s sent ETH, stake it on Alice’s bonding curve, and mint Bob some of Alice’s meTokens at the current fair market rate.
All Alice needs to do to make investing in her this simple is setup her ENS subdomain.
How to Setup Your ENS Subdomain
To setup your ENS Subdomain, you’ll first need to have a primary ENS domain. For example, you’ll need to purchase Alice.eth before you can setup StakeOnMe.Alice.eth. If you don’t already have an ENS domain, like Alice.eth, you can follow this quick & simple guide to buying one.
Once you have your ENS domain, you can follow the instructions in the video below to setup your ENS subdomain with StakeOnMe. This video also walks you through the process of creating your very own meToken.
Using Your ENS Subdomain
Once you have your ENS Subdomain setup, you can begin sharing it with your community! Use the hastag #StakeOnMe on social and promote yourself in creative ways to inform people where they can send ETH to automatically generate your meToken.
- 🥩 meTokens are now live at StakeOnMe.com
- 💳 Create your own meTokens
- 🔍 Discover and purchase the meTokens of other individuals
- 🐦 Follow us on Twitter @meTokens
- 👾 Chat with us on Discord — get help in our #support channel
If you liked this article and want to support the author or the meTokens project, you can stake some ETH on StakeOnMe.ChrisRobison.eth. You’ll be sent $CBOB in return. Requests to spend $CBOB can be made by tweeting CBobRobison (DMs are always open).
