Punk Domains Announces Digital ID Domains Partnership With Flare

Summary:
• The partnership comes amidst a surge in SGB and .FLR domain extension registration, signifying increased interest in human-readable domains.

Web3 domain name protocol Punk Domains has announced a partnership with the Flare blockchain, and revealed thousands of registrations for the.SGB (Songbird Domains) and.FLR (flr.domains) domain extensions. Also, all Flare users will soon have an easier time minting names and transferring funds thanks to Punk names’ plans to incorporate the domains inside the Bifrost wallet.

Punk Domains and its web3 niche

Punk Domains is a permissionless, distributed domain name service that operates on several different blockchains. The Web3 project enables users to register a human-readable domain name that represents their usernames, profiles, and identities on the blockchain.

The domains can stand in for one’s login, profile, and identity in the rapidly expanding web3 environment, serving as human-readable labels for blockchain addresses. By delivering a domain rather than a long string of alphanumeric letters, users can use their web3 domains as social media handles, integrate data into them, and streamline the process of sending tokens.

The first-ever free, open-source decentralised social network, SGB Chat was developed by Punk Domains and launched on Songbird, the canary network for the Flare blockchain. In addition, the Flare Time Series Oracle (FTSO) will be incorporated to guarantee stable domain pricing regardless of fluctuations in SGB and FLR prices. FTSO provides highly distributed price and data feeds to Flare dapps, eliminating the need for third-party aggregators.

Domain services such as.smol in the Arbitrum-based Smolverse and.klima domains accompanying klimaDAO were launched by Punk Domains before.SGB and.FLR were introduced. Token swaps and other DeFi functionalities are accessible without leaving the network thanks to the built-in DeFi tools available to users.

SGB Chat has a content minting function that allows artists to monetize their contributions, which was developed in response to problems with web2 social networks including censorship and demonetization. Flare support is in the works, and content is saved on distributed storage systems to guarantee data integrity and lifespan.