Starname
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Starname
Starname is a name service built on top of the Cosmos-SDK and operates in a decentralized manner. This service is network-independent and allows each user to personalize their crypto-address and use a single address for all networks. Starname is based on the Tendermint Bond-Proof-of-Stake (BPoS) consensus. It is essentially the ENS you are already familiar with, but only in Cosmos.
*starname is a name you can use. It can be your universal username in the blockchain world.
The *starname allows you:
to receive cryptocurrencies;
store digital assets in an easily accessible form using your Starname profile;
transfer value in a fast, simple and cost-effective way using blockchain technology.
Project development
Starname was launched as a project in 2018 and already launched on mainnet in August 2020.
The company's accomplishments in 2021 include, but are not limited to, the launch of the IBC-backed Starname (IOV) network, the #2 pool on Gravity DEX and two incentivized pools on Osmosis.
Below you can see Starname's technical roadmap for Q4 2021 (the company's last published roadmap). It is divided into two sections: back-end and front-end.
Roadmap
I only found a roadmap from 2021, let's see what was going on there:
1 - Selecting the Proof of Stake (POS) model
In order to realize the Internet of Payments, a technology capable of managing transactions quickly was needed. The share proof model used, the Tendermint consensus and the Cosmos network were important milestones for the proposed technology. In addition, because the system is independent of Ethereum, Starname is not sensitive to the surge in network management fees.
2 - Starname application
At the heart of the Starname concept has always been the desire to send cryptocurrency as easily as sending an email. For this reason, Starname was created. It is a single username to manage all cryptocurrencies and all channels. While this functionality may seem simple, it is the key to mass adoption for the project.
In a few words:
Starname is agnostic, can unite all chains under a single umbrella and a single username.
Starname avoids mistakes and is easily recognizable.
Starname is multi-asset: there is no limit to the assets supported by the service, which means that all your cryptocurrencies can be linked to your Starname.
Starname can be used as a Whitelabel, you can access a high level of company customization (it's about binding an address to a company).
Starname is a profile that can be used by both individuals and companies.
3 - Uniswap listing
A token has been placed on Uniswap to unlock the proposed technology.
4 - Google Drive function
Access using Google's G-Drive and Google authentication to create an account have been opened. This should greatly expand the project's capabilities and help non-technical users to access Internet of payments in the future.
5 - Request Payment integration
Using Request functionality, all Starname users will be able to send payment requests along with invoices to complete their transactions.
6 - Stablecoin
Integration of USDC Stable coin was to be implemented in the second quarter of 2021 to allow Peer to Peer payments to become real. I did not manage to find out to what extent this point was realized. I did not find traces of Stablecoin.
7 - Internet Payments
The Internet of payments is still in its infancy. The goal for the future is to provide even greater integration with decentralized applications.
At the moment Starname is already integrating some cryptocurrencies, here are just a few of them: IOV, Bitcoin, Ether, ATOM, Kava, Secret, Polkadot, Iris, Stellar, Litecoin, Dash and many more.
The technical roadmap is also from Q4 2021:
$IOV and IOV SAS
IOV is both the name of the native Starname network token ($IOV) and the name of the company behind *starname.
IOV SAS creates a name service that provides *starnames and consists of providers, wallets and validators. IOV's mission is to make cryptoassets more accessible to the masses and promote universal adoption.
As an independent blockchain shaped by validators and people working with the service, Starname needs a token as a way to incentivize and continue to provide the service in the long run.
The IOV token is a usable token used in the sale of *starnames and in the execution of transactions on the blockchain. All of the turnover generated by the service is distributed between the holders and participants of starname, making it a fully decentralized project and aligning incentives. The activity of the starname service is directly reflected in the value of the token.
Tokenomics
Starname inflation is regularly reviewed to be adjusted based on the APY of the network. The blockchain revenue intended for delegators and validators is mainly determined by this inflation and product fees (starname sales). Starname blockchain APY (additional revenue generated from sales) can vary as it depends on the function of sold starnames, validators' commission, number of delegated tokens and total supply of tokens. You can find more information about APY here.
Latest news on the project
Medium is mostly peppered with news about selling names to other space networks, as well as launching the sale of 1,2,3 letter Star Names).
Gravity Dex will launch within a week, there will be an IOV.
Voting to create a Stimulus Pool for IOVs on Osmosis.
All who continue to steak - will receive airdrops as compensation for the temporary absence of APR. All who have withdrawn funds or just keep them for nothing.
Negotiations are underway with Akash to store future NFT data on their distributed storage. That is, it will be possible to create NFTs with Star Names, and it will be possible to upload a picture, gif, audio or video to the NFT. In parallel, the option of storing data from NFTs on IPFS is being considered.
Soon there will be a decentralized platform where you can put Star Names up for sale for IOV, and buy names already registered accordingly.
Satellite will soon implement putting registered Star Names for sale to 14 different tokens from the Cosmos Ecosystem. It will be possible to buy them to sell them both on Telegram and on the website.
In fact, once they start building NFTs with stellar names, there will be two NFT trading platforms.
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