Upcoming Update to Our Ethereum Gas Fee Policy
May 30, 2021
When we started Unstoppable Domains in 2018, we set a goal to provide 3 billion + people across the world with decentralized identities that are 100% user-owned and controlled and work across apps, wallets and browsers on Web3.
Central to this idea was a commitment that we would never charge renewal fees to our customers. When you buy a domain from us it is yours to keep, forever.
Earlier this year, after Ethereum prices had grown close to 10x from where they were the year before, we introduced a temporary "claim credits" policy to cover the cost of gas prices until we were able to build and launch our service on Layer 2 of Ethereum, which would bring prices down for all transactions.
Updating our policy based on your feedback
Over the past few months we have heard from many of you that the claim fee policy was confusing and not the best solution - especially as gas prices have fluctuated so much recently.
To simplify the process, and avoid overcharging of gas fees during times of low transaction volume, we will be retiring the use of claim credits on our site starting on Friday, 4 June 2021. In its place users will need to pay their own transaction fees for minting and managing their domains. This change will be temporary until we are able to Launch our L2 solution, which is now scheduled to happen later this year.
This change gives people much more direct control over the price they’re willing to pay and lets them wait for good opportunities to make changes to their domains. Also important to note once again, that these user-paid-fees are temporary. When we move to the L2, Unstoppable Domains will cover transaction costs again.
What about claim credits you have already purchased?
For those of you who have already purchased claim credits, not to worry, you’ll still be able to use your purchased claim credits after this change.
As before, you will have the choice to either wait to claim/update for free when the Layer 2 is ready, or claim/update now by paying the transaction fee. Starting on Friday, 4 June 2021 if you do decide to claim your domain or make changes on the blockchain, you will now sign the transactions with the amount of gas you are willing to spend to be mined.
When will Layer 2 be available?
We are aiming to have a working Layer 2 solution later this year, and will provide an update on our progress later this summer. We appreciate your support and patience as we build a new internet together.
- The Unstoppable Team
Curious to Learn More About Gas Fees?
If you would like to know a little bit more about gas price, here is an explanation video. You can also check out https://support.unstoppabledomains.com/ for more guides, tutorials and support knowledge.