GM domainooors, let’s rewind last week @ SNS;
→ pyusd.sol sells for 9.5K USD
→ Gearing up for Consensus HK
→ Dropped the Valentine’s Day limited edition background
→ SNS Townhall catch-up
→ Prepare for a big reveal soon™️
Read more here: https://t.co/zcU0foYuSG
GM domainooors, let’s rewind last week @ SNS;
→ pyusd.sol sells for 9.5K USD
→ Gearing up for Consensus HK
→ Dropped the Valentine’s Day limited edition background
→ SNS Townhall catch-up
→ Prepare for a big reveal soon™️
Read more here: https://t.co/zcU0foYuSG
Key Benefits of Owning a .sol Domain with @sns
1. Resale Value and Transferability:
A .sol domain is not just a personalized identifier; it is a transferable digital asset. Unlike standard wallet usernames, .sol domains can be sold or transferred between owners, adding a layer of utility and potential value. Thanks to @solkit_io for their tool that helps in evaluating the market value of your .sol domain.
2. Advantages over Phantom Wallet Names
While @phantom wallet names provide convenience, they are fundamentally different from Solana Naming Service (SNS) names:
-Non-Transferable: Phantom usernames cannot be sold or transferred as they are tied to your wallet’s seed phrase.
-Security Risk: Transferring your seed phrase to another user exposes you to significant risks, as the seed phrase controls all accounts linked to your wallet.
3. Enhanced Security with SNS
A Phantom wallet address is connected to a single seed phrase but can have multiple private keys. Sharing the seed phrase can inadvertently give access to all associated accounts, including newly created ones. SNS names, however, eliminate this concern, as they are distinct from the seed phrase and tied to your identity rather than the wallet itself.
4. Portability Across Wallets
With SNS, your .sol domain stays with you, no matter which wallet application you use. Transferring your domain is seamless:
-Example: Moving your .sol domain from Phantom to Solflare or Jupiter Exchange is straightforward. @sns allows you to manage your identity independently of the specific wallet app, providing flexibility and security.
With that being said, owning a .sol domain through SNS (Solana Naming Service) offers portability, resale potential, and security, making it a superior choice for managing your digital identity on Solana.
Phantom usernames vs @sns domains is like Facebook Login vs decentralised identity. While Facebook Login is convenient (one click, works everywhere), it means Facebook controls your digital identity. They can revoke it, change terms, track usage, or disappear entirely.
This is exactly why we're building web3 - to move away from having big companies control our digital lives. Centralised solutions like Phantom usernames recreate the same Web2 problems: relying on companies to "rent" us our identities instead of actually owning them.
A .sol domain, like decentralised identity, is truly yours. No company stands between you and your on-chain identity.
The real question is: are we building truly decentralised systems, or recreating the same centralised control we're trying to escape from? 🤔
The multi-chain username approach sounds convenient, but centralised wallet usernames go against crypto's core purpose:
• Self-custody: Your .sol name is truly yours - no company can take it away
• Decentralised by design - not controlled by any wallet service
• On-chain ownership vs usernames in a company's database
• True to crypto's core principle: eliminating trusted third parties
Having your identity controlled by a wallet service (even a great one like @phantom) means trusting a company that could change rules, revoke access, or get acquired. Just like Twitter can take handles away, any centralised service has that power.
Your domain is yours as long as you hold the keys - that's why we build on blockchains.