Coinspeaker
Web3 Domain Name Protocol Punk Domains Partners with Flare Network for More Domain Extensions
Decentralized domain name service Punk Domains has partnered with the Flare Layer-1 blockchain and has already received a few thousand registrations for its new domain extensions, including .FLR (flr domains) and .SGB (Songbird Domains).
Before the .FLR and .SGB extensions, Punk Domains had launched a few others, including .kilma in collaboration with klimaDAO, and .smol from the Smolverse NFT world based on Arbitrum. Other connected extensions include .dope, .giveth, . ppl, .pool, and .fantom.
Each domain functions as a label for a blockchain address. Anyone can use a domain to represent their profile, identity, or personal username. The domains may also function as representations of their social media handles. The option makes it easy for users to exchange all of this information or perform transactions without remembering or noting long blockchain addresses.
The Punk Domains and Flare partnership includes domain integration into the Bifrost wallet. This way, all Flare users can easily mint domains and transfer funds. In addition, Punk Domain will integrate Flare Time Series Oracle (FTSO) so that price fluctuations on SGB and FLR will not affect its fixed domain prices.
The FTSO functions by collecting external information sourced by independent data providers. These providers find data from crypto exchanges and related sources and pass the data to the oracle. The network then weighs each provider submission by its own stake, along with stake designated by holders of the Flare (FLR) token. The price estimates are then published on-chain.
Through this process, Flare ensures that all information eventually published is truly decentralized and impartial since Flare does not own or manage the providers.
Punk Domains and Flare’s Songbird
Punk Domains’ co-founders Techie.flr and Tekr.flr talked about the support received from Flare’s Songbird canary network. The duo is now anticipating more benefits of the partnership between Punk Domains, Flare, and Songbird.
“When we launched our protocol on Songbird, the community welcomed us warmly and with great excitement. Their support touched us deeply and inspired us to create even more tools in this ecosystem. We’re eagerly looking forward to what lies ahead as we continue building on Flare and Songbird.”
As part of its work with Songbird, Punk Domains launched a decentralized social network called SGB Chat. Built on Songbird, the open-source network allows users to access decentralized finance (DeFi) tools, including token swaps, right on the platform. In addition, users on SGB Chat can monetize their content without fear of censorship or demonetization. SGB Chat stores all content using decentralized servers to maintain data security and integrity.
About Punk Domains and Flare
Punk Domains provides users with registered, permissionless, and decentralized domain names across multiple blockchains. Each domain name is used as an identity in place of personal usernames, profiles, and long alphanumeric blockchain addresses. In addition, Punk Domains owns Songbird’s first decentralized social network, SGB Chat.
It’s also worth mentioning that Flare is a data-driven Layer 1 blockchain that provides developers with large-scale information. The network can offer cost-effective access to quality data with the ability to scale this access to meet developer needs. Flare also functions with a State Connector that pulls information from multiple blockchains and analyzes responses received.
Web3 Domain Name Protocol Punk Domains Partners with Flare Network for More Domain Extensions
