🌐Introduction

Overview

IDEN Protocol utilizes NFTs (Non-Fungible Tokens) to represent each registered name, ensuring that every name is unique, secure, and immutable. These NFTs play a crucial role in the identity management process, offering various functionalities and benefits to the users.

Key Features of Name Service NFTs

1. Immutable NFTs

   • Each name registered on IDEN Protocol is minted as an immutable NFT, guaranteeing that the name cannot be altered or tampered with once created. This ensures the security and integrity of your digital identity.

2. Chain-Specific Prefixes

   • Names on the IDEN Protocol are prefixed with the chain name, such as .orai for Oraichain and .route for Routerchain. This allows users to easily identify the blockchain network associated with each name.

3. Single Wallet Address Resolution

   • Each registered name resolves to a single wallet address, simplifying the process of managing multiple blockchain addresses. This ensures that all transactions associated with a name are directed to the correct wallet.

4. Ownership and Transferability

   • The owner of a name NFT has full control over their domain. They can transfer ownership, sell, or list the domain on marketplaces. This flexibility allows users to monetize their names or pass them on to others as needed.

5. Yearly Subscription Model

   • Names on IDEN Protocol are registered on a yearly subscription basis. After the subscription period ends, users have a grace period of three months to renew their subscription. If the subscription is not renewed within this period, the name will be released back into circulation and available for others to register.

6. Domain Tiers and Rewards

   • IDEN Protocol categorizes names into three tiers based on their length:

     • 3-Letter Domains: The most rare and valuable.

     • 4-Letter Domains: Moderately rare.

     • 5+ Letter Domains: The least rare and most common.

   • Each tier will offer different levels of rewards and benefits in the future, providing additional incentives for users to secure shorter, more valuable names.

7. IDEN Transfer Page

   • Users can utilize the names to transfer tokens seamlessly on the IDEN Transfer page. This feature enhances the usability of names, making it easier to conduct transactions without needing to remember complex wallet addresses.