Babylon Booster Grants: XRD Domains | The Radix Blog | Radix DLT

XRD Domains has secured the $15,000 Babylon Booster Grant.

What is XRD Domains

XRD Domains is a project developed to streamline domain management on the Radix network. It is the backbone of the Radix Name Service (RNS), a domain registry and trust layer. This platform is crafted to be user-friendly, making it accessible to both newcomers and experienced users in the Web3 space. The XRD Domains team is dedicated to enhancing the user experience on the Radix network through various key developments and milestones.

Recently, the team has achieved significant progress:

Successful Closed Beta Test: A cohort of 16 hand-picked applicants completed a closed beta test. Their valuable feedback and positive responses have given the team the confidence to launch the public Stokenet test.

Domain Minting Achievement: In just the first week of the test net going live, over 500 domains were minted by Stokenet testers, indicating strong interest and engagement from the community.

SDK Completion: The development of an SDK to enable seamless integration with other Radix projects, such as Shardspace and Radix Charts, has been completed. This SDK is a critical tool for fostering interoperability and enhancing the functionality of the Radix ecosystem.

Launch of XRD.Domains Public Stokenet App: The team has released the XRD.Domains Public Stokenet App. This application allows anyone to interact with and test the platform, providing a glimpse into XRD Domains’ capabilities and features before its full-scale launch.

Landrush Event: XRD Domains previously launched a landrush event in early January 2023, the result was that roughly 5000 domains were pre-registered, showcasing the sheer demand that the platform will receive once live. 

These milestones underscore XRD Domains’ commitment to delivering a robust and efficient domain management solution on the Radix network. With these achievements, XRD Domains is steadily moving towards becoming a key player in the Radix ecosystem, offering innovative and practical solutions for domain management in the Web3 space.

Key Features of XRD Domains

User Experience (UX): The platform offers a straightforward user interface. This design allows easy management of domains and integrations, similar to the functionality offered by Zapier. The goal is to provide a hassle-free Web3 experience where users can easily add integrations within their domain management panel.

Namelets: A unique feature of XRD Domains, namelets simplify domain record management. They act as widgets, removing the need for technical knowledge of record types and routing. This makes domain management more accessible, especially for those not technically inclined.

Genus Domains: XRD Domains introduces the concept of genus domains to combat the issue of dilution in traditional domain spaces. Genus domains allow primary domain holders to maintain the value and ownership of their brands without the risk of dilution due to new extensions. This feature empowers brands and domain owners by providing full control and financial benefits from their domain names.

Insignias and Trust Scores: XRD Domains enhances Web3 security with insignias and trust scores. These features are similar to SSL certificates in the traditional web, providing a way to establish trust for Web3 domains. They allow domain owners to verify the authenticity and authority of other domains, which is particularly important in DeFi. Insignias can also be used as collateral or for insurance purposes, adding an extra layer of assurance in Web3 transactions.

The RNS Foundation and DAO

XRD Domains has set up the RNS Foundation and a DAO framework with legal advisers to ensure the protection of DAO participants and compliance with legal standards. This structure aims to legitimize the operation and support long-term growth by addressing legal and operational challenges in the Web3 space.

So, what’s on the horizon? 

XRD Domains is actively focusing on enhancing its platform’s functionality and user experience. A key initiative in this direction is the implementation of a bug and optimization bounty program. This program is designed to gather critical feedback from users, which will be instrumental in refining and optimizing the platform. 

By involving the community in this process, XRD Domains aims to ensure that its platform not only meets but exceeds user expectations in terms of reliability and ease of use.

In terms of marketing strategy, XRD Domains is taking a multifaceted approach. The primary strategy involves building out namelets and integrations for the live dApps within the community. This approach is expected to facilitate inter-community awareness and promotion, leveraging a cross-pollination method to enhance user engagement. 

Additionally, the plan includes attracting communities from other networks as part of the RNS’s ‘substrate’ service. This expansion will involve offering domain credits to encourage social engagement, thereby increasing platform visibility and user interaction. Furthermore, the RNS Foundation is set to initiate an airdrop campaign, which will incorporate multipliers based on social engagement. More detailed information about this campaign is expected to be released in the new year.

Regarding the budget for these marketing initiatives, XRD Domains is well-equipped financially, thanks to the entire grant received from cohort 1 activities. Moreover, the RNS Foundation is expected to provide additional grants for marketing activities in the upcoming year, subject to successful proposal submissions.

On the development front, XRD Domains is planning significant enhancements to its service offerings. The roadmap includes the launch of a fully-fledged Decentralized Autonomous Organization (DAO) platform and the introduction of VPN/utility concept applications. These developments are aimed at broadening the platform’s capabilities and offering users a more robust and versatile experience.

In terms of regulatory compliance, XRD Domains has established a strong foundational structure to ensure decentralization and compliance with legal standards. The platform, functioning as a development arm, is distinct from the main DAO/foundational entity. 

Looking ahead, XRD Domains is preparing to navigate the regulatory landscape by exploring FCA regulation for the addition of token-specific elements to the platform next year. Plans are also in place to incorporate Instapass-enabled domains to meet Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements as stipulated by the Markets in Crypto-Assets (MiCA) regulation.

The Radix Advantage: A Founder’s Perspective

Reflecting on the advancements of XRD Domains, the team shared:

The experience of building on Radix has been very enjoyable indeed. Building in such an early-stage network brings so many advantages, such as a community that’s fully engaged with the tech at a core level along with utilizing this tech and developer experience to be a part of the journey.

In terms of the foundational stack, Scrypto has provided us with a myriad of benefits compared to that of solidity. The fact that we can sleep easy knowing that Scrypto DX is way more likely to be error free and much safer than a solidity equivalent. We have also stumbled across a few user flows and issues that would have been close to impossible to achieve with EVM constraints. 

We also love the asset-oriented approach and handling of tokens and are fully leveraging this by making our domains “feel” and “behave” very much like assets. Get ready for a swathe of gradient-laden QR code domain cards to hit the network!

Improvements are constantly being added to the Scrypto tooling and developer SDKs, and we look forward to leveraging anything Radix throws at us!

The Radix community is like no other – the level of support and enthusiasm we have received since inception really took me by surprise. I was again taken aback by the sheer level of quality feedback we received during both our closed bounty program and current stokenet release. Our supporters really did throw the kitchen sink at the platform and tested at the contract level. Over time, I’ve come to realize that most, if not all, members of the Radix community are here not just for the “gains”, however, but are here out of a collective excitement around how this technology can actually push the industry forward and want to be a part of the journey.

For more information on the project, head to the website, follow the project’s official Twitter account, or join the XRD Domains Telegram channel.

All information about XRD Domains was provided by the XRD Domain team and has not been verified by Radix Publishing, RDX Works, or their associated companies.

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