In recent days I’ve taken a further consideration regarding Harberger tax on ENS. My conclusion is that Harberger tax is a perfect matrix that max motivates the liquidity. It will definitely help ENS, if we can resolve below major aspects:
There are lots of users already paid huge $$$ to buy the names, with the assumption that renewal expense is always $5/160/640 which was announced by ENS official, after they yet paid hundreds ETH, then telling them changing rule of renewal fee is not fair.
People don’t change their names easily, same for companies, re-branding is always their last choice. When ENS been put on a Harberger tax, we can foresee companies’ cost for protect branding will increase, which slows down big orgs’ move towards ENS.
Crypto is open and free world, code is law, everything doable is legal. With Harberger tax in place, we just have one new way of bad faith: keep bidding on company names, because I know you won’t let go, a competitor or hater could do this simply let them pay more.
Trusted Trading Platform: Right now we have: Opensea, ENS.vision, x2y2… A long list of platforms that ENS can be traded on. Some user uses platform A, some prefers B, while offers on a name can be made on any platform even the name owner never use this one.
It will be unfair to implement Harberger Tax based on offer data coming from any 3rd party marketplaces, because ENS user ≠ opensea/looksrare user. The only convincing way is to have an ENS official marketplace in place prior to implementing Harberger Tax. Are we ready?
After we manage to find resolution to above cons, then it’s time to celebrate all the pros, because Harberger tax will bring incredible strong and healthy liquidity to ENS market, the great and charming game rule will make the game more sustainable.
No harm to existing user; Brands(trademark) aside; apply on rare names; trading on ENS official platform…
Maybe yet unreleased 1&2 char of ENS name is really the best fit of all these, it definitely worth a short, at least a dao proposal for vote. Your thoughts, frENS?
- Last but not least, Vitalik is Vitalik, Nick is Nick, you are you, everyone is equal here.
As long as your point makes sense, you can write your own proposal to ENS dao as well, the majority always support the proposal that best reflects common interest.
We are together