What: Online auction for all 3–6 character .ETH names still remaining after the reservation period (which concluded August 17th)
Start: September 1st, 00:00 UTC
Length: The length of the auction depends on the length of the name
- 5–6 character .ETH names: 4 weeks
- 4 character .ETH names: 5 weeks
- 3 character .ETH names: 6 weeks
Auction type: English auction, in which bids are public and participants are able to submit multiple bids, with the final and highest bid winning the name
Minimum bid: The same as the fee for one year’s registration, which depends on the length of the name
- 5–6 character .ETH names: USD$5/year (paid in ETH)
- 4 character .ETH names: USD$160/year (paid in ETH)
- 3 character .ETH names: USD$640/year (paid in ETH)
Currency for bidding: Ether (ETH)
Where: OpenSea (the only place hosting the auction)
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The reservation process for 3–6 character .ETH names closed on August 17th and decisions have been sent out. Of 344 applications, 194 were approved and now belong to their new owners.
The next step of the 3-step process for the release of 3–6 character .ETH names is an auction for all short names remaining after the reservation period.
The auction will be run by OpenSea (whom we selected after our RFP) and will begin on September 1st, 00:00 UTC. The length of the auction will depend upon the length of the .ETH name being auctioned. This is due to the fact that shorter names are rarer and thus generally more valuable. Auctions for 5–6 character .ETH names will last 4 weeks, 4 character .ETH names will last 5 weeks, and 3 character .ETH names will last 6 weeks.
The minimum starting bid for names will be the same as one year’s fee for maintaining registration. This also depends on length, again due to shorter names being rarer and thus generally more valuable: USD$5/year for 5–6 character .ETH names, USD$160/year for 4 character .ETH names, and USD$640/year for 3 character .ETH names. (Why .ETH names have yearly fees, and what will happen to the money.)
The auction will be an English auction, which means bids will be public and participants will be able to submit multiple bids, with the final and highest bid winning the name. Bids made in the last 5 minutes will extend the auction to prevent sniping.
Auction winners will be awarded their respective .ETH name for one year, after which they will have to pay a yearly fee (the same as the respective minimum bid amount stated above) to maintain control of the name. All .ETH names can be managed and renewed with our Manager.
After the auction is completed, all remaining 3–6 character .ETH names will become available for instant registration, as +7 character .ETH names already are.