# The unikname.network Tokens

The unikname.network blockchain runs with two tokens linked together with smart-contracts:

  • UNIKNAME Token: a NFT Token representing @unikname Identifiers.
  • UNIK Token: the protocol token used to secure the network and to rewards network players and users. This is the “fuel” of the network.

# The UNIKNAME Token

# UNIKNAME Token is a NFT Token

Every @unikname ID is secured by the blockchain. Once chosen, a smart-contract mints each human-readable identifier into the blockchain as a NFT Token. We name it the UNIKNAME Token.

There is as many UNIKNAME tokens in the chain as @uniknames IDs that exist.

UNIKNAME tokens belong to the owners of Unikname crypto-account. The private keys enabling access to UNIKNAMEs are the private keys of its related crypto-account.

The UNIKNAME token is based on Ark Core technology, and more precisely on its NFT specialized fork, available in the Github's project Ark Core NFT (opens new window). Ark Core NFT specifications are discussed in the standard Ark Improvement Process and are available in their dedicated AIPs issue (opens new window).

# UNIKNAME Token Remarkable Properties

Unique: The owner of a UNIKNAME has the guarantee that his identifier is unique and that no one can get the same within the same namespace. Every @unikname is represented by a single cryptographic hash code locked as a UNIKNAME token within the unikname.network blockchain.

Immutable: Once created and sealed into the blockchain, the name can’t be neither altered, nor changed.

Obfuscated: The internal string representing the @unikname identifier is obfuscated within the unikname.network blockchain. Thus, it can neither be read nor listed. Only people who knows it can make request on it.

Self-Sovereign Asset: Self-sovereign identifier is a concept where the individual or the entity has ultimate control over their identifier and is the final arbiter of who can access and use their data related to it. Every UNIKNAME token has its ownership rules coded within the unikname.network blockchain smart contract. Only UNIKNAME token owner has control over it.

Created and obtained for Eternity: Every UNIKNAME token is minted and sealed into the unikname.network blockchain. No subscription plan required, nobody can delete it.

# UNIKNAME Token Issuance

Only accredited nodes can mint UNIKNAME in the chain. These nodes belongs to Network Players owning a NFT Factory Licence, they're called NFT Factory Nodes.

# The UNIK Token

# UNIK token is a protocol token

UNIK token is a protocol token required to run the unikname.network. Executing every network operation requires UNIK Tokens:

  • to mint and sealed new @uniknames ID, new UNIKNAME
  • to update existing UNIKNAME, eg. transfer ownership
  • to update UNIKNAME registry
  • to unlock features or to extend UNIK capabilities
  • to vote for Network Delegates
  • ...

Most operations require to use a UNIKNAME in addition to spending UNIK.

# UNIK Token Issuance

Supply of UNIK utility token is dynamic and follows network adoption.

UNIK Tokens are issued in two ways:

  1. UNIK Tokens are minted by the protocol itself every 8 seconds for validation of block of transactions.
  2. UNIK Tokens are minted by the protocol for every UNIKNAME Issuance and activation. This design makes the token less prone to speculation and more stable.

The genesis block have supplied $UNIK 10M to enable start-up operations and to be used as a network reserve. These tokens have been allocated to wallet owned by the first network player : Unikname itself.

# Token name across networks

To prevent confusion and fatal errors, tokens are named differently between networks:

  • LIVENET: UNIK, for the live network
  • SANDBOX : SUNIK, for the the development network