🌐TDNS
ADDRESSING
The tDNS system is tomi’s alternative to the DNS governed by ICANN. tDNS is governed by the tomiDAO. DAO technology provides a significant improvement over the US-based ICANN which is limited to a small number of nodes, mainly under US jurisdiction, who determine the functioning of the DNS system. Domain names in the tDNS are minted as an NFT and are completely owned by their owners, although a royalty in the amount of 5% of the sale price will be payable to the project, as set forth below.
By creating a core DNS service governed by a DAO comprised of thousands of members, tomiNet eliminates the possibility of censorship, capture, or corruption.
The tDNS solution allows anyone to bid on any domain name they want at the standard price set for the domain names. Once a bid has been set, the domain is up for auction for 48 hours, and anyone who wants can make a bid on the domain within that time. The winner of the auction will receive the domain name for the price requested.
The initial minting will carry a minting fee payable by the initial minter, and the initial minter, even if out bided and did not gain ownership on the domain, will be entitled to a compensation calculated as a percentage of the sale price royalty payable upon any sale of the domain, forever.
The initial sale price and the royalty fee will be divided between the initial minter (25% of the fee), the core team (35% of the fee) and the tomiDAO (40% of the fee).
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