Fuel Nomen is a name service on Fuel Network that implements a novel ownership mechanism to disincentivize domain squatting and optimize economical efficiency. Fuel Network pioneers the modular blockchain paradigm with its lightning-fast FuelVM and Sway language.

We published our research on namespace market design and Nomen’s approach in this article. TLDR; Nomen model is a compound of Vitalik’s capped demand-based recurring fee model and harberger taxation. This optimized compound model provides a smooth user experience and economical efficiency.

However, it depends on fine-tuning of model parameters that cannot be changed after the launch. The parameter choice requires heavy research and simulation testing of different parameter combinations. We propose a two-staged roadmap to implement the Nomen model.

The first stage is the launch of Fuel Nomen with a simple model. This will allow the team to focus on the mainnet launch and the integrations. The only difference is the Simplified model doesn’t have a bidding mechanism. Let’s have a look at an example explaining how the Simplified Nomen Model works in practice. Alice registers “alice.fuel” and assesses a value, the domain goes into a harberger period where anyone can forcibly take over the domain by paying Alice the value she assessed. After 7 days from the registration, the domain stabilizes and the last owner’s fee is determined by the domain’s value. In contrast to the Simplified Nomen Model, in the Nomen Model, anyone can change the value of “alice.fuel” by bidding on the domain. The second stage is the transition to the Nomen model with social consensus in the mainnet period.

Our primary goal is to build a namespace that is usable across the ecosystem and provides real utility to users. The Simplified Nomen Model will allow us to focus on this goal. Once we achieved a working and well-integrated namespace, then the time for the Nomen model will come. We are committed to building a smooth user experience for all. We are here to stay.