City Namespaces

Each city feels like it should have its own identity layer using BNS names, see Getting Started With On-Chain Usernames on Stacks. For example, I should be able to register patrick.mia with $MIA, and patrick.nyc with $NYC.

The rules for the namespaces may want to be set in a careful way, that is upgradeable, perhaps by the respective CityCoins DAO. There could even be a corresponding Constitution like ENS has which sets some basic guidelines for what to expect from any governing body.

Lastly, if we think this city-specific identity layer is fundamentally valuable, we may want to consider eventually baking it in to any new city activation to avoid frontrunning after it has been established that a city will be activated. See the following example: https://twitter.com/Drinknu/status/1532079075535163392?s=20&t=5AZJZAwyyYRSjkiVAHJA4w

What do y’all think?

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For those not as familiar with the BNS contract some additional details:

When registering a Blockchain Naming System (BNS) namespace such as .btc (which is the highest level domain name on Stacks, comparable to Top Level Domains (TLD) on the traditional web, example .com) there are a couple of steps to take:

  • Pre-order namespace by burning required STX
  • Register namespace
    (Optional: use import list for registrations before launch and hence public availability)
  • Launch namespace

The first two actions are actually the same for the BNS names or domain names within a namespace on stacks (anyone who registered a .btc will have experienced this). The pre-order exsists so you can secretly “pre-register” and other users can’t hijac your registration by analysing the mempool and frontrun you by paying a higher fee. Pre-order and register is what you start with. For a .nyc or .mia namespace you need to burn 64,000 STX

My proposal is to kickstart the pre-order by asking the (mia) citycoin community to fund the pre-order. The benefit would be you automatically check if enough users want to register a namespace and want to back up there yes-vote with STX.
The amount of STX provided per user can then dictate who gets to pick first, second, etc. on the pre-order list.

The pre-order list is a way to register a name before anyone can publicly register. So it is an excellent way to honor community members who supported the launch of the namespace.

After the preorders have been made and the namespace owner makes the launch namespace contract call anyone on the network can register a BNS name/domain in the new namespace (for example .mia or .nyc).

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There is a significant opportunity to shift the identity model within the space. We are currently in a cycle wherein we try to realize the full potential of web 3.0 by tying all the innovation (DeFi, DAOs, and NFTs) through Decentralized Identities. As Stacks is poised to become a significant player, Ryder is in an excellent position to take over the identity layer within its ecosystem. We couldn’t be more happy about this partnership with CityCoins to bring this to reality.

The market opportunity is clear. To give you an overview, let’s compare the addressable market between Web2 and Web3. The growth rate for email adoption per year is currently at 3% with a total size of 4 billion users; this total addressable market for Web2 will decrease as we move to the creator economy.

At Ryder, we have a strong thesis about decentralized identities and their current adoption. This can be seen with ENS (Ethereum Naming System) success in the space - the crypto domain based on the ETH blockchain has generated revenue worth nearly 20 million since its launch in May 2017. Looking at the current adoption for web3, we can hypothesize that we are just at the tipping point as ENS just sold 1M+ domain names.

In the first year, we will focus on the initial community of CityCoins and leverage its distribution and general brand awareness.

What are currently working on

  • Working contract example is done, admin function is live enabling registration of .MIA and .NYC
  • UI/UX for Namespace (Design, Copywrite, FAQs)

Next Steps

  • Discuss with the Citycoins community the namespace parameters such as price, fees, token burn, and more.
  • Build the contract to be upgradable
  • Make the admin function upgradeable to enable transfer to DAO ownership.
  • Strategize on how this can be a pilot program for future BTC airdrop from $MIA or $NYC

I’ll follow up on this thread this week with more detailed information on the things need to be defined by the CityCoins community.

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