Injective Labs and Space ID have just kicked the door wide open as the two companies announced their pioneering collaboration to launch Injective’s first-ever native Web3 domain name, ending with the suffix “.inj,” alongside a highly-anticipated pre-registration event that promises to bring more opportunities to the Web3 domain name services.
Injective Launches Personalized Domain Names
Injective Labs, in collaboration with Space ID, is gearing up to launch the industry’s first-ever native .inj domains. The much-anticipated pre-registration event, which is drawing near, promises to be a game-changer in the crypto market.
Over the past month, partners within the Injective ecosystem have been hosting a unique series of quests designed to offer participants exclusive access to pre-register their personalized .inj domain names.
INJ ID is in the process of developing a revolutionary domain name service on the Injective platform, utilizing the advanced SPACE ID 3.0 infrastructure. This aims to create a decentralized name system that will become the default solution seamlessly integrated across the rapidly expanding Injective ecosystem.
Soon, individuals will have the opportunity to own their first native INJ domain names, which can be utilized across a variety of platforms, including wallets, websites, decentralized applications (dApps), and more. Ownership of these INJ domain names comes with a plethora of benefits. Users can establish their personal Web3 brand identity, replace complex wallet addresses with short, memorable domain names, and facilitate easier transactions of crypto, NFTs, and other digital assets through custom .inj domains.
SPACE ID is crafting a comprehensive name service network that offers a one-stop platform for web3 domain discovery, registration, trading, and management, complete with a Web3 Name SDK & API for cross-blockchain developer support. Meanwhile, Injective is a high-speed, interoperable layer-one blockchain designed for top-tier Web3 financial applications, offering developers robust modules for creating unparalleled decentralized apps (dApps).
INJ’s Rules Of Pre-Registration Event
To create a whitelist of pre-registered users, the company recently wrapped up a series of quests and giveaway campaigns called “INJ ID Quests,” offering active participants in the Injective ecosystem an exclusive chance to register one .inj domain name for each Quest Badge or giveaway win they secured.
Each participant can earn the opportunity to register up to five .inj domain names during the pre-registration stage. However, the maximum bid quota for each address is set at five domains, regardless of the number of badges or giveaway campaigns won by that particular address. The INJ domain pre-registration comprises two stages to ensure a fair and bot-free environment: an auction stage and a first-come-first-serve (FCFS) registration stage.
The auction stage will begin with a five-day auction where only whitelisted addresses can participate. During this stage, participants can place new bids or continue bidding on existing names without affecting their maximum bid quota. The minimum increase for a new bid has been set at 105% of the preceding bid.
Participants can either continue bidding after being outbid or opt for an immediate refund, in which case they forfeit their opportunity to recover that bid quota. Winning bidders will be able to register their domain names for a minimum of one year, with the first-year registration fee already covered by the auction. Pricing for the auction stage starts at $180/$40/$4.5 worth in INJ for domain names with 3, 4, or 5+ characters, respectively. Various discounts are also available for early adopters.
Following the auction, a five-day FCFS phase will commence, allowing auction winners to register their chosen .inj names. Remaining quotas will also be available for other participants to register names on a first-come-first-serve basis.
The .inj domain names have specific format requirements, including a minimum length of three characters and restrictions on special characters. Notably, a selection of domain names will be exclusively reserved for partners and decentralized applications within the Injective ecosystem. With this multi-faceted pre-registration event, Injective Labs aims to accelerate the adoption of .inj domain names and significantly enhance the overall Web3 experience for its growing community.
