Proposal Title: Creation of a Native .sui Domain Marketplace on the SuiNS Website
Proposal Category: Technical Proposal
1. Problem Statement
Currently, the SuiNS ecosystem lacks a native platform for users to buy, sell, and trade .sui domains directly through the SuiNS website. Users are forced to rely on external platforms or secondary marketplaces, which can be inconvenient and may limit the potential for deeper engagement within the SuiNS ecosystem. This proposal aims to create a seamless and integrated experience for users by introducing a native .sui domain marketplace on the SuiNS website, allowing for direct trading of SuiNS-based .sui domains.
2. Proposed Solution
The solution is to develop a native .sui domain marketplace within the SuiNS website, which will allow users to:
- List and purchase .sui domains: Users will be able to list their .sui domains for sale and purchase domains directly from the marketplace.
- Support for SuiNS Domains: The marketplace will exclusively support the buying, selling, and transferring of .sui domains registered within the SuiNS ecosystem.
- Smart contract integration: Smart contracts will be used to manage domain transactions, ensuring security, transparency, and trustless interactions.
- User-friendly UI/UX: A clean, intuitive interface will be designed to make domain trading accessible, even for newcomers to the blockchain space.
- Wallet Integration: The marketplace will support popular cryptocurrency wallets (e.g., MetaMask, Sui Wallet) to facilitate payments and domain ownership transfer.
- Search and Filter Options: Users will be able to filter .sui domains by price, length, popularity, and other attributes.
- Transaction Fees and Royalties: A small transaction fee will be applied to each domain sale within the marketplace. Additionally, domain creators will receive royalties on secondary sales. Both the transaction fees and royalties will be directed to the SuiNS treasury, contributing to the long-term sustainability and growth of the platform.
3. Desired Outcomes
- Enhanced User Engagement: By providing an integrated marketplace, we will keep users within the SuiNS ecosystem, encouraging them to engage more deeply with the platform.
- Increased Domain Trading Volume: The marketplace will encourage the buying and selling of .sui domains, leading to more activity and growth within the ecosystem.
- Decentralization: Empowering the community by allowing users to trade .sui domains directly within the ecosystem, further promoting the values of decentralization.
- Sustainable Treasury Growth: The fees and royalties collected from marketplace transactions will go to the SuiNS treasury, which will fund future projects, governance, and ecosystem improvements.
4. Timeline for Implementation
- Phase 1 (Research and Design): 2 weeks
- Analyze existing marketplace models, create detailed design specifications, and plan wallet integrations.
- Phase 2 (Development): 6 weeks
- Build the marketplace infrastructure, integrate the necessary smart contracts, and develop the frontend UI.
- Phase 3 (Testing and Auditing): 2 weeks
- Test the platform thoroughly for security, usability, and performance. External auditing of smart contracts.
- Phase 4 (Launch and Marketing): 2 weeks
- Final bug fixes, marketing push to attract users to the new marketplace, and official launch.
5. Code and Technical Implementation
- Smart Contract Changes: New smart contracts will be developed to handle the buying, selling, and transfer of .sui domains within the SuiNS ecosystem. These contracts will include:
- Domain Registration and Transfer Functions: Allow users to list and transfer ownership of .sui domains.
- Buy and Sell Functionalities: Enable users to purchase and sell .sui domains directly on the platform.
- Royalty Payments: A royalty feature for domain creators to automatically receive a percentage of secondary sales.
- Transaction Fees: A small fee for each transaction, which will be routed to the SuiNS treasury.
- Frontend and Backend: The frontend UI will be built using modern web technologies, ensuring it’s fast, responsive, and easy to use. The backend will handle user data, domain metadata, transactions, and wallet integrations.
6. Conclusion
This proposal aims to improve the user experience and expand the functionality of the SuiNS platform by introducing a native marketplace for .sui domains. By providing a secure, decentralized space for users to buy, sell, and transfer .sui domains, we can create more value within the ecosystem, encourage greater adoption, and support domain creators within the SuiNS community. Additionally, the fees and royalties generated from the marketplace will be directed to the SuiNS treasury, ensuring the platform’s continued growth and sustainability.