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How To Mint And Transfer Blockchain Domains For Free

11 June 2022 | 0 comments | Posted by Claire Wouters in Geek Chic

Mint blockchain domains for free

If you've wanted to create a blockchain domain for yourself and your business, you're managing these NFT domains on behalf of clients, or you're simply a domain reseller, you'll realise that the gas fees on Ethereum have become a bit of a pain. The increase in on-chain costs has made purchasing domains less viable as they either increase the price to take over ownership on-chain, broadcast changes to the smart contract or transfer the domain to other wallets.

As the gas fees on Ethereum show no sign of reducing, we've seen certain domains become less attractive to own due to their value being eaten away by gas fees. Increased fees eat into profits from domain management, and reselling is passed to miners instead. As the cost of gas fees rises, it makes blockchain domains less attractive to use, but there are workarounds in place, and savvy users will be able to bypass paying Ethereum gas fees or reduce costs with clever management.

If you're looking to reduce blockchain domain fees, you may consider minting it onto an alternative chain like the Polygon network.

What is Polygon (MATIC)?

Polygon is a "layer two" or "sidechain" scaling solution that runs alongside the Ethereum blockchain. It uses the same EVM chain, and you can use your same wallet and addresses to manage your Polygon minted assets.

Since Polygon is a different chain, it allows for speedy transactions and low fees; MATIC is the network's native cryptocurrency for fees, staking, and more.

How to use Polygon?

To mint your domain on Polygon, you'll need to have a MetaMask wallet set up the same way you would with Ethereum. Once your MetaMask is set up, you'll have to add the details to communicate with the Polygon network.

Click [Add Network] in your MetaMask and then input the following details:

Network namePolygon
New RPC URLChoose any of the following: https://polygon-rpc.com
Chain ID137
Currency SymbolMATIC
Block Explorer URLhttps://polygonscan.com/

Once added you'll be able to connect to the Polygon network and sign transactions with your Metamask wallet.

Note: You will need a small amount of MATIC in your wallet so you can manage fees not covered by your domain minting provider, but since Polygon fees are so low, 1 - 10 MATIC should be all you need to manage all your transactions.

How to mint domains on Polygon

Now that Polygon is set up on your Metamask, it's time to manage and mint your domain.

  • Step 1: Sign in to your Unstoppable Domains account
  • Step 2: Go to the My Domains section of our website.
  • Step 2: Find the unminted domain you'd like to mint and click "Free Mint" next to the domain and then "Continue" on the pop-up window that appears. (Domains that have previously been minted to Ethereum will not display the option to mint to Polygon as that feature is not available yet)
  • Step 3: Choose and approve which wallet you'd like to mint your domain to take custody. You'll either be prompted to sign the connection if you are connecting with a browser extension wallet, or if you have a different wallet, be asked to open up your wallet to approve the transaction using a QR code or other verification method.
  • Step 4: Then check the box next to I understand, then click on Confirm to mint the domain.

That's It!: You're done! Once the mint process is complete, you can click on Track Progress and then click on tx_id_0000 next to the domain to view the transaction on the Polygon network. You can also repeat the process for any other unminted domains you own in your Unstoppable Domain account.

What if my domain is already on Ethereum?

If you've purchased and previously minted a domain to Ethereum but don't want to deal with the gas fees, the ability to bridge those domains to Polygon will be available.

Bridging an asset allows users to move the domain on Ethereum to or from Polygon back to Ethereum if they so desire.

Currently, Unstoppable Domains are encouraging users to use Polygon instead of Ethereum and will be covering gas fees for all Polygon transactions.

While any transactions made on the Ethereum Blockchain will still be your responsibility to move to Polygon will always be available.

To move a domain that has previously been minted to the Ethereum blockchain to the Polygon blockchain, you will need to pay a final one-time Ethereum gas fee. Once on Polygon, you can take advantage of Unstoppable Domains fees subsidy, and they will cover all gas fees on Polygon after that, giving you access to hundreds if not thousands in savings per year.

Managing your domains on Polygon

Now that you can mint and manage domains on Polygon, you'll be able to purchase cheaper domains, while the more expensive Premium NFT domains can be managed on Ethereum, where the fees may be a small amount versus the value of the domain, and you can safely profit from purchases.

As for those who are actively managing domains, broadcasting changes like connecting wallet addresses to a domain, then Polygon will make those changes far more economically viable, and you can make changes without paying an arm and a leg.

You can also sell NFT domains using Polygon, and with those low fees, you can entertain a more competitive bidding market.

Suppose you've got domains on Unstoppable Domains and have yet to take custody of them because of Ethereum fees. You now have little to no excuse for not taking full custody now that you can manage them on a cheaper chain, so what are you waiting for? It's time to take control of your assets.

Reserving your domain

Now that you know how decentralised domain registration works, will you be getting one? Do you own one already? If not you can purchase one today at Unstoppable Domains.

If you have any questions, let us know in the comment section down below.

Contact us

If you're having trouble getting started with purchasing the right domain then feel free to contact us and let's see how we can help you get a domain to get started.

Are you looking to promote your business?

South African Business owners can create their free business listing on nichemarket. The more information you provide about your business, the easier it will be for your customers to find you online. Registering with nichemarket is easy; all you will need to do is head over to our sign-up form and follow the instructions.

If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles. 

Recommended reading

If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts about website domains.

Tags: Blockchain, NFT

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