Here are 10 Facts about BNS that you need to know! 👀🤝
1⃣ BNS is one of the oldest blockchain name systems, it originated on
@Namecoin in 2014 and was then imported onto Bitcoin in 2015. It predates
#ENS by 3 years!
2⃣ BNS is currently only on 1 marketplace,
@trygamma on Stacks. Since the BNS collection was launched in Oct 2022 (14 months ago), BNS has done 1.4m
$STX (estimated $1.4m) in All Time Volume and is 2nd only to
@Megapont.
3⃣ The highest sale so far has been crypto.btc selling for 11,400
$STX ($12,882 at the time). Word sales make up the Top 5 sales, the others are wallet.btc, love.btc, loan.btc & apple.btc. The highest digit sale has been 93.btc at 20,000
$STX ($6,086).
4⃣ There are over 310,557 BNS names that have been registered, and approx. 621,114
$STX has been burnt (estimated $621,114). The main TLD .btc represents 86.4% of all registrations, with .id coming in 2nd representing 4.7%.
5⃣ BNS was written as a smart contract on
@Stacks, Bitcoin's L2 and the .btc TLD launched on 2nd June 2021. Smart contract functionally enables BNS to interact with dApps & DeFi platforms built on Stacks, much in the same way
#ENS does on ETH.
6⃣ The BNS Community was created in Sept 2022 (originally called BNS DAO) and there are around 1600 people in the discord server. Due to not having a fully functioning marketplace escrow trades took place in the server. Over 100 ETH ($120,000) in volume was generated over escrow.
7⃣ There's an active BNS Working Group involving dedicated community members that are committed to growing BNS into a leading name system. We gather every other Thursday to discuss BNS development and the community is welcome to listen and take part in these discussions.
8⃣ The BNS L1 Bridge was launched in Nov and enables BNS Investors to bridge their names from L2 (Stacks) to L1 (
#Bitcoin). When the L1 inscription is created the L2 name is held securely in a 'Bridge Contract'. BNS L2 names can be retrieved at any time by burning the inscription.
9⃣ BNS is getting an upgrade! The BNS V2 contract upgrade will be finalised before the Stacks Nakamoto upgrade in Q1 2024. The upgrade will likely support improvements such as many names to an address and preventing
$STX being burnt upon registration, instead allocating this to a BNS Treasury. SIP to be released soon.
🔟 BNS will be 10 years old next February 2024! 🎉