Unstoppable Domains has partnered with one of the largest crypto communities on Reddit, r/EthTrader, to launch the .DONUT domain.
Once launched, the .DONUT top-level domain will provide r/EthTrader’s 2.3 million members with member-owned digital identities to expand the community’s presence in the blockchain ecosystem.
Unstoppable domains
Unstoppable Domains is the largest provider of on-chain domains and digital identities on blockchain.
Launched in 2018, the project offers on-chain domain names and a digital identity platform that works to integrate the world on the blockchain.
On-chain domains are minted onto the blockchain, giving their holders full ownership, unlike traditional domains that are effectively created and managed by a registrar.
Additionally, on-chain domains have no renewal fees after purchase.
Even on-chain digital identities are the exclusive and total property of their owners, giving full control of their digital identities directly to the people.
On-chain domains allow crypto address holders to replace long alphanumeric strings with an easy-to-read name, allowing them to access and transact on nearly 900 apps, wallets, exchanges and marketplaces.
Unstoppable Domains has been named the “Most Innovative Company” for 2023 by Fast Company and has been included in Forbes’ “America’s Best Startup Employers” list for 2024.
The community on Reddit: the .DONUT domain is coming
r/EthTrader is the largest community on Reddit dedicated to Ethereum, so much so that it has now reached a remarkable 2.3 million members.
It was one of the first crypto communities created on Reddit, and it was also a pioneer in implementing community points, thanks to the token DONUT.
r/EthTrader is also known for its innovative approach to distributed governance, weighted polling systems, and community-driven decision-making.
Thanks to its partnership with Unstoppable Domains, it is now launching on-chain digital identities for its members, connecting traditional social platforms to the blockchain infrastructure.
The .DONUT domain and the Reddit community r/EthTrader
The traditional .DONUT domain does not exist.
In addition to the classic domains .com, .org, .net, there are now many others, such as .bar, .beer, .coffee, .pizza.
Nowadays you can register traditional domains by choosing from hundreds of extensions, but there is no .donut among them.
DONUT is the dedicated token of r/EthTrader, and the on-chain domain .DONUT was created by Unstoppable Domains specifically for the members of r/EthTrader.
Please note that Unstoppable Domains’ on-chain domains have nothing to do with traditional website domains, and they are not even used for the same purposes.
.DONUT is Unstoppable Domains’ second TLD (top-level domain) based on a Reddit community, after .MOON was created for r/cryptocurrency’s 8.8 million users.
The .DONUT domain represents the community’s DONUT token, which has been an integral part of r/EthTrader’s governance and rewards system since its inception.
The sign DONUT
The r/EthTrader community’s DONUT token hit the crypto markets in 2020.
During the last major bull run, 2021, the price shot up from 3 thousandths to 93 thousandths in less than a month in January of that year, and has never returned to that level since.
Already in November of the same year, a sharp decline began, which took it from 8 thousandths to even below thousandths of a dollar during the subsequent bear market of 2022, before rebounding again in August 2023 to almost 30 thousandths.
The 2024 peak was reached in March, above 35 thousandths, but then collapsed again. Now, for example, it has fallen to below 5 thousandths of a dollar.
It is therefore a highly speculative token, which does not perform well in the long term, but sometimes shows wide and rapid increases, which can be useful for those who want to trade in it and know how to predict them.
The comment
r/EthTrader’s lead moderator, Marc Aurel, stated:
“The launch of .DONUT is a major milestone not only for r/EthTrader, but also for the entire Donut ecosystem. It’s another step forward as we continue to lead the way in innovation and scalability in the SocialFi sector. By partnering with Unstoppable Domains, we are giving members of our community the tools to establish their digital identities beyond Reddit, while maintaining the sense of connection and shared purpose we have cultivated over the years.”
Unstoppable Domains Chief Operating Officer Sandy Carter added:
“This partnership with r/EthTrader represents another important milestone in connecting established Web2 communities to blockchain infrastructure. The .DONUT domain extension will enable one of the most engaged crypto communities to expand its presence on the decentralized web while maintaining its distinctive identity.”
Credit : cryptonews.net
