Voting period:
10 days
Categories:
Social Proposal
Request for Action
Constitution Amendment
Abstract:
This proposal introduces a rapid auction strategy for 1-character (1D) Tezos domain names through a series of traditional ascending-price auctions. The approach aims to monetize these premium domains within a 60-day period while allowing the market to determine appropriate pricing.
Rationale:
The initial fixed-price offering of 1D names at 3000 tez has shown no market traction. With these premium domains currently listed on Objkt.com without any sales, a market-driven auction approach is needed. This proposal aims to find the true market value through competitive bidding while ensuring the DAO captures maximum value within a compressed timeframe
Details:
After proposal P-014 failed to sell any names, I posted a message for all TED Delegates to try to think of ways to monetize 1 character names that are currently listed on Objkt for 3000 tez, as per P-014. Unfortunately there has been no activity toward that goal in the past few weeks. We have a limited time period to sell these names for something, before they expire for the year and become available again via https://app.tezos.domains.
It’s the intention of this proposal’s author is to use the prices for which 1 character names sell in order to propose an overall change in 1/2/3/4/5+ character names, which better aligns with the user-base utilizing the Tezos Domains service.
Auction Mechanics
This proposal introduces a three-wave auction approach within a 60-day window:
Phase 1: Primary Auction Period (Days 1-30)
All 36 domains (a-z.tez and 0-9.tez) will be auctioned with the following parameters:
- Auction Type: English Auction (Highest Bid)
- Starting Bid: 100 oXTZ (NOTE: 1 oXTZ = 1 tez = 1 XTZ)
- Minimum Bid Increment: 5 oXTZ
- Duration: 7 days per auction batch
- Platform Fee: 5% marketplace fee
- Referral Fee: 5% (to incentivize promotion)
- Four auction batches of 9 domains each
- New batch starts every 7 days
Here is an example of the auctions:
(note: ignore domain name provided as it’s just an example of the auction interface)
Phase 2: Fixed Price Period (Days 31-60)
For any unsold domains from Phase 1:
- Days 31-45: Fixed price at 100 tez
- Days 46-60: Fixed price at 75 tez
- Any remaining unsold domains will be held by the DAO
Implementation Timeline:
- Days 1-3: Marketing preparation
- Days 4-31: Four consecutive auction batches
- Days 32-60: Fixed price period
Success Metrics:
- Primary Goal: Sell at least 75% of 1D names within 60 days
- Secondary Goal: Achieve average sale price above 150 tez
- Tertiary Goal: Generate minimum 2000 tez in total revenue
Marketing Strategy:
- Leverage 5% referral bonus for community promotion
- Daily social media updates for active auctions
- Partnerships with Tezos platforms
- Regular updates in Tezos Domains Discord
- Batch announcement strategy to maintain interest
Risk Mitigation:
- Lower entry barrier with 100 tez starting bid
- Small bid increments to encourage participation
- Weekly batch releases to maintain momentum
- Clear fixed-price fallback strategy
Cost Analysis:
- No upfront costs as Objkt.com fees are success-based
- 10% total fee only applies to successful sales
- Marketing costs covered through referral system
Specification:
Day 1 of execution starts about one week after the proposal is officially accepted, allowing for 2 days wiggle room, meaning Day 1 may start as soon as 5 days after the passing of the proposal and as late as 9 days. The exact date will be announced by the CM team.
- Pass this proposal (SoG)
- Announce Day 1 start (CM)
- Marketing campaign preparation (3 days) (CM team)
- First batch auction launch (CM)
- Weekly batch releases (CM)
- Transition to fixed price phase (CM)