Get a Free ENS name!

☕️ Cafe
#1

RabbitHole launched a new quest today. You basically get a free ENS name by completing it. An ENS name is a human readable name that you can link your Ethereum address to so you can use that instead of your plain 0x public address. You will need about 0.05 ETH and be BrightId verified in order to complete the quest, but when the campaign concludes, you will receive 0.05 ETH as a reward. You can actually complete the quest for less that 0.05 ETH if you choose to register your ENS name for only 1 year (you can renew after that), and if you get lucky/are patient to get good gas prices. You will need to submit 3 transactions which cost gas and pay one fee, here is what I paid:

Gas used for the first Tx: 43,667 @ 110 gwei = 0.00480337 ETH
Gas used for the second Tx: 276,997 @ 105 gwei = 0.029084685 ETH + yearly registration fee: 0.006131649119053559 (I went for 2 years)
Gas used for third Tx: 123,770 @ 105 gwei = 0.01299585 ETH
Total Gas: 0.0530155541
Including the reward: -0.0030155541 ETH (about $5 right now) + That sweet RabbitHole XP and nearly a free DNS name

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#2

Interesting read. I had always wondered how the people on CT had those cool name based ETH addresses. So the only thing i do not understand is why this has to be a registered service. I mean again not knowing the technical details, unsure why this has to be a paid service?? Its essentially being able to associate a human readable/ useable string to my public key or address… Would be good if you could explain!

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#3

It’s the same thing as how the DNS (Domain Name Service) works. Every website is run on a server, or in some cases several servers. Those servers have IP addresses to identify them, but they are just a bunch of numbers basically so it’s not easily read and understood. Imagine if in order to get to a website you had to remember 120.84.67.01 or something like that. So when you type in the website name it sends a message to a directory and says what is the latest entry for this website, and it returns the IP address. Then your request for the website gets forwarded to that IP address and the information you requested gets sent back to you. ENS is different in its architecture, but the premise is the same. You reserve a human-readable name and you assign your public address to it, and that gets stored in a registry. Then when someone uses your ENS name to send you funds, your actual public address is looked up in the registry in order to know where the funds should end up.

As for why you need to pay for the service is a fair question. Again just like DNS there needs to be a team of people that maintain these registries and make improvements on them as technology advances. The funds you pay to register a name get sent to a multisig wallet and the keyholders get to decide what to do with it. Considering the cost of registering a name for a year is like $5 I think that’s pretty reasonable for them to maintain the service.

The other fees that add up to the 0.05ETH I mentioned however are all because of ETH gas fees which is another story.

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#4

I want to get an ENS name but i am afraid i have to sacrifice my HNY since it’s my only funds. Maybe i will just skip this quest for now.

#5

Thanks for sharing @CurlyBracketEffect . I went for 5 years

#6

thanks mate for the detailed explanation. i think it makes sense now. So the bulk of the cost is in the ETH tx fee. I wish this was done on the xDAI chain !! haha

#7

yeah unfortunately ETH gas fees are killing us all slowly. The miners are winning big right now. It’s also sad that ENS is only running on Mainnet, so your ENS wont be useable on xDai. At least not yet.

#8

Thank you! I already have my ens, so I only had to complete one task!

Super easy 0.05 ETH and great way to promote ens! Now can we get xdns? :slight_smile:

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