How domain registration work with auction system?

There is a simple scheme shows how bidding structure work with representation of blocks.

First someone need to check domain is not owned by anyone or already opened for auction. If there a auction already going on you can bid on that domain name but if domain name is owned you need to deal with the owner. For non registered ones you need to register the .neo domain. With that registration smart contract start the auction period which is 3 days. After that 3 days there is 3 outcome. If no one bid on domain domain contract aborted and return to main contract for another register to happen. Second outcome is after register people bid in first 2 days and no one bid on the last day of auction highest bidder win the bid and own the domain contract. Lastly after 2 days of bidding if someone bid on last day before auction ends auction goes to 3rd period of auction which is overtime bidding also show on image above. With this overtime bidding end time and date of auction is randomised and not shared publicly which totally counter last sec auction snipers. After these explanations lets see how to pass registration and auction process.

How to register a domain?

Disclaimer all of the images taken from testnet. Official release of NNS might be different than you see in these images. Sgas mentioned in article probably going to be replaced by Cgas which deployed by Neo yesterday for fill the need of easily usable gas for smart contracts.

1)Login to Nel wallet over wallet.nel.group

2) Exchange your gas in your wallet to Sgas over Sgas Exchange tab

3) Click on top up button under your auction account in NNS(.neo) tab.

4) Enter the amount you want to top up to your account and click on confirm.

5)Enter the domain name you want to buy. There is 3 possibility if the domain you search already owned by someone you can see the owner of the domain and details. I will start from in case domain opened by another one for auction and return to not opened to auction by anyone.

5.1)

As you can see if that name is already auction you get a writing indicating that and your button change to new bid so click on new bid.

You will get a window like this showing highest bid on that domain you can bid on that domain and increase your bid over here clicking bid. You can see your cumulative bid. In the end what matter is your cumulative bid on that domain name.

5.2)

You will see the start auction button so you can start the auction of that domain name right away.

After opening auction command mined by neo blockchain. That domain name going to be listed under your My Auctions click on bid for make a bid.

Same type of bidding screen waiting for you here since you started the auction just a seconds ago there will be no one bidding on that domain name. Don’t forget min bid amount is 0.1 gas.

6)After all this you just need to follow the auction from bar on that screen and make sure you win the auction. This process cat take up to 4–5 days and 3 days if no one bid on this domain.

7)After winning the auction head over to same page to claim your domain name.

8)After claiming your domain head over to Domain Management tab click on edit for corresponding domain.

9)Confirm the address resolver provided by NNC and add the neo address you want to redirect that domain. You can also deploy your own address resolver contract if you okay with spending 500 gas for that.

10)After 9 month of you having the domain if you like to keep the domain name you need to renew that domain come to same management page and click on renew.

11)Make sure renew process confirmed and see your new expiration date.

Don’t forget these dates are not corresponding real dates. They are set shorter for test purpose in testnet.

Please follow NNS socials:

NNS website: https://neons.name/index_En.html

NNS twitter: https://twitter.com/NeoNameService

NNS GitHub: https://github.com/NewEconoLab/neo-ns

NNS Telegram: https://t.me/forneonameservice