Base Introduces Basenames: Simplify Your Onchain Identity with ENS Subnames

Tired of those long, complicated hexadecimal addresses in the crypto world? Base, the Layer 2 network incubated by Coinbase, is rolling out Basenames – a simpler, more human-friendly way to represent your onchain identity. Think of it as your web3 username, built on the robust foundation of the Ethereum Name Service (ENS).

What are Basenames?

Basenames are essentially subnames within the ENS system. They allow you to create a readable name (like `yourname.base.eth`) linked to your cryptocurrency wallet address. Base believes Basenames will be “a core onchain building block that enables anyone to establish their identity on Base.”

Here’s a simple breakdown:

• ENS Domain: Think of this as the main website domain (e.g., `base.eth`).
• Subname (Basename): This is like a subdomain, created under the main domain (e.g., `yourname.base.eth`).
• Ownership: The owner of the main ENS domain (in this case, `base.eth`) controls the creation and management of subnames.

So, if Bob wants a Basename, he could register `bob.base.eth`, making it easier for others to find and interact with him on the Base network.

Why are Basenames Important?

In the often-opaque world of blockchain, Basenames offer several key advantages:

• Simplified Transactions: No more copying and pasting long, error-prone addresses. Just use the Basename.
• Enhanced Identity: Establish a recognizable identity within the Base ecosystem.
• Improved User Experience: Makes interacting with decentralized applications (dApps) and other users much easier.
• Building Blocks for Web3: Basenames are envisioned as a fundamental component for building and participating in the decentralized web.

How to Get Your Basename: The Dutch Auction

Base is launching Basenames through a Dutch auction. This means the price starts high and gradually decreases over time. Here’s how it works:

• Starting Price: The auction begins with a premium fee of 100 ETH.
• Price Decrease: The price decreases steadily over the first 12 hours, eventually reaching 0.39 ETH.
• Fair Launch: This approach aims to give everyone a fair chance to acquire their desired Basename.
• Post-Auction: After the initial 36-hour Dutch auction period, no premium fee will be applied.

Base announced the auction details on Twitter.

When Can You Get Yours?

According to Jesse Pollak, Base’s lead, Basenames are scheduled to launch on Tuesday. He stated on X, “We’re going to make basenames the easiest way to get started building (or living) onchain.”

What’s Next?

Basenames represent a significant step towards making blockchain technology more accessible and user-friendly. By simplifying onchain identities, Base is paving the way for broader adoption and a more seamless web3 experience. Keep an eye on Base’s official channels for the launch announcement and get ready to claim your Basename!