Originally posted on my Publish0x blog.
Today [Nov 15] is the day, dear reader! Unstoppable Domains is initiating layer 2 (L2) upgrade as part of their ongoing upgrade to Polygon network from Ethereum main net. This upgrade includes new and existing users, to allow for free minting and claiming of NFT domains. You read that right. Removing traditional costs associated with gas fees opens the door for Web3 architecture. Best part is - there are no subscription fees, no renewal fees, and your domain ownership is minted on a public blockchain. Yours to keep forever (unless you decide to sell later).
What is an NFT domain you ask? It is a domain which is useable with web wallets such as Metamask. A standard website can be published, along with the capability to access crypto payments directly. This means that a long hash is no longer necessary to receive crypto. Give them your plain text NFT domain name, and receive any cryptocurrency [on supported list] deposited directly to your wallet. Need to interact with smart contracts? Unstoppable can handle this request as well. Interacting with the DAO [Decentralized Autonomous Organization] This means that you now have a centralized web3 wallet, minted permanently, with the ability to interact with everything web3 has to offer. The possibilities are limitless.
What's more.. your domain is useable as a universal login. One address can be used as a global login identifier to access apps without the need for numerous password combinations. Important to note that this is in beta as of writing.
We are currently in Phase 1 of the upgrade process. Here is the timeline of integrations according to the official upgrade schedule:
Phase 1, November 15th (Claiming onto Polygon)
Users can now claim domains on Polygon (ETH and Matic addresses will be auto assigned)
Option to move previously claimed domains from Ethereum to Polygon will be available in phase 3 (not yet)
Domain management will become available in Phase 2 (not yet)
.zil domains won't be claimable on Polygon until Phase 4
Phase 2, Late November (Managing on Polygon)
Users will be able to manage domains on Polygon
Users will be able to connect to wallet addresses for 275+ cryptocurrencies, build websites, nft galleries, etc
Note: After Phase 2, new domains will be fully manageable and claimable on Polygon. Phase 3 and 4 focus on migrating older infrastructure to work on the new Polygon system.
Phase 3, est. December - February (Moving claimed domains from Ethereum to Polygon)
Users will be able to move previously claimed domains from Ethereum to Polygon
Users will be able to move previously claimed domains from Zilliqa to Polygon
Phase 4, est. end of Q1 2022 (Moving claimed domains from Polygon to Ethereum)
Users will be able to move domains claimed on Polygon to Ethereum
Be sure to reserve your Crypto/NFT domain.
Posted Using LeoFinance Beta