The official discussion for the Remove name registration fee proposal. With this post, the proposal has entered the second phase of the governance process. Please review the drafted proposal and contribute feedback by Friday, November 26th.
Nassar Hayat - @nas | nas#9634
Cloudhead - @cloudhead | cloudhead#2904
We’d like the radicle name registration fee to be removed. The goal of this initiative is to support the adoption of Radicle Orgs by reducing cost and effort when onboarding.
In order to register a name on radicle it cost 10 RAD:
Currently, registering a name costs 10 RAD. Though in itself, the amount is high in $ terms, another issue is that we require all users to buy RAD before registering a name. This means they have to go on Uniswap and exchange some ETH or USDC for RAD, before being able to register a name.
Since name registration is integral to creating an identity on Radicle as well as creating an Org, and is part of the onboarding process, any friction there will slow down growth of the network.
I propose that we set the registration fee to
0, which will no longer require users to hold RAD, and focus on the other areas (eg. Radicle Funding) to drive demand for the token.
- This fee was originally set as a way to create utility and drive demand for RAD alongside usage. The business models of p2p networks have evolved and it is no longer necessary to charge for the creation of a radicle name.
- Gas prices are also high right now it adds far too much cost, which results in major drop-off when onboarding.
- The radicle network benefits from network effects and thus shouldn’t create blockers for users joining
This proposal will make it easier and less expensive for new users to onboard which we believe will help support long-term adoption of Radicle features.