Bored ENS Yacht Club (BENSYC) is the first ENS 10k subdomain collection where the subdomain NFT is your membership to the club.
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BENSYC's primary purpose is to provide the ENS community with a light-weight, experimental ENS subdomain project that has sufficient features for the holders to form a sub-DAO within ENS. Upon reaching full functionality, BENSYC sub-DAO will enable the holders to vote as a single delegate within ENS DAO. In addition to ENS DAO education & voting, BENSYC aims to explore experimental ENS use cases - especially of ENS subdomains, and potentially support the ENS builders through BENSYC grants.
A collection of 10,000 Bored ENS Yacht Club subdomain NFTs (0-9999) with an array of name-bound features will be available to mint at a price of 0.01 ETH each on Sept 9, 2022 12:00 UTC.
BENSYC drop will consist of an NFT (including an avatar) + boredensyachtclub.eth subdomain + bensyc.eth subdomain that are all mutually name-bound. Name-bound tokens are similar to soul-bound tokens in the sense that tokens are bound to ENS names instead of wallets. The owner can freely sell/transfer the NFT and the two subdomains will automatically be transferred with the NFT to the new owner along with all the metadata (e.g. avatar, decentralized website).
BENSYC Community Treasury is the 3/4 multi-sig managed by the founders at the start of the project. In due time as project matures, the treasury will be migrated to the sub-DAO governor contract. 50% of all proceeds from the mint will be transferred to the community treasury and converted to ENS tokens to be delegated to BENSYC. The remaining 50% of all proceeds from the mint will be held as ETH in the community treasury for long term sustainability of BENSYC and ongoing development.
Yes, each BENSYC subdomain will have its own automatically generated decentralized website.
BENSYC is experimenting with the use cases of fractionalizing ENS domain ownership to create community tokens. 🦍coin.eth has been fractionalized into 1 billion $🦍 tokens and $🦍 tokens collectively own 🦍coin.eth. 🦍coin.eth can be purchased by anyone & will start with a purchase price of 10,000 ETH. Holders of $🦍 tokens will have a right to vote on the purchase price of 🦍coin.eth. Upon conclusion of BENSYC 10k subdomain mints, 50% of $🦍 will be airdropped to the BENSYC subdomain owners through a 'claim process' (similar to the ENS token airdrop) and 50% of $🦍 will go to the BENSYC community treasury. BENSYC subdomain holders may vote to use the community treasury as a source of grants for builders from the ENS community. If 🦍coin.eth is bought out, then $🦍 will become pegged to the purchase price and $🦍 holders will be able to swap $🦍 for the proportional share of ETH from the 🦍coin.eth buyout.
Pssss... Upon BENSYC 10k subdomain mints, the founding team might have an additional surprise 🧪. You didn't hear it from us.
