This afternoon, Twitter and the group suddenly fired up ENS, saying “all 3 digits and 4 digits are registered”, “be careful someone replaces 1 with lowercase L” and so on everywhere, and the transaction volume of ENS is also increasing in a straight line. Lift.
I checked the information and found that it was because an ENS domain name club called 10kclub suddenly started to register ENS domain names consisting of 3-digit and 4-digit numbers in large numbers. Taking a closer look, it turns out that a project called Linkkey is going to send airdrops to ENS users.
Taking this opportunity, let’s take a look at what Linkkey does?
Introduction to Linkkey
Linkkey is a Web3 open source social protocol where users can operate their own personal NFTs and community NFTs. It is based on the underlying domain name protocol of SNS, which is a fork on ENS. It integrates application scenarios such as cross-chain, multi-chain registration, and NFT social networking, and there is no annual fee. At the same time, LinkKey is also a DAO organization without any sponsors or investors, and uses KEY as the governance token.
Linkkey will be deployed on the Polygon chain first, and will be compatible with more ecosystems such as BSC and Solana in the future. At present, the SNS domain name contract is still based on the Ethereum ERC-721 standard, and the KEY Token adopts the ERC-20 standard. Additionally, data in the Linkkey ecosystem is permanently stored using the IPFS protocol.
In Linkkey, each user can issue up to 150 NFTs, and each community can issue up to 1500 NFTs. These NFTs symbolize the value of your different social behaviors. Like ENS, the sooner users join, the more valuable domain names they can get.
As you can see in the official Demo, Linkkey will provide a browser plug-in that integrates on-chain information such as wallets, personal NFTs, and social NFTs. Click the chat button to the right of the personal information to open the chat room. Through API and plugin integration, Linkkey chat rooms can be used in most dApps and websites, and users holding the same personal or community NFT will automatically form a secure and private group chat.
Token economic model
The initial distribution of KEY does not set an upper limit, but depends on the development of the entire community, determined by the number of registered users. The value of LinkKey’s community NFT and personal NFT represents the overall value of LinkKey. When a user registers the KEY domain name, 150 KEY Tokens will be generated, of which 75 will be used for airdrops, 60 will be used for user incentives, and the remaining 15 will be used for user incentives. Coins are used for internal team rewards. It should be noted that the KEY Token issued by the registered domain name will not be airdropped immediately, but will be airdropped every other cycle.
Linkkey currently only supports the use of Matic Token to register SNS domain names. The initial registration fee is 10 Matic. For every 100 registrations, the fee will increase by 3%. In the future, if users use KEY Token to register, 70% of the KEY used to register SNS will be destroyed. Linkkey will also support mainstream Tokens such as TRX, BNB, USDT as payment methods, and manage registration fee income through DAO, but this operation will initially be managed by the team and investors.
In addition, KEY can also be used in some of the following scenarios:
- Buy virtual goods from the community. Such as user-generated expressions, avatars, etc.
- Pay for advertising and destroy KEY.
- Pledge to obtain voting rights and participate in Linkkey community governance.
The distribution ratio of KEY Token is 40% for liquidity support, 20% for investor dividends, and 40% as team operating expenses.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/what-is-the-linkkey-that-makes-everyone-madly-brush-ens/
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