Unstoppable Domains has partnered with one of the largest crypto communities on Reddit, r/EthTrader, with the goal of launching the .DONUT domain.
Once launched, the top-level domain .DONUT will provide the 2.3 million members of r/EthTrader with digital identities owned by the members themselves, to expand the community’s presence in the blockchain ecosystem.
Summary
Unstoppable Domains
Unstoppable Domains is the largest provider of on-chain domains and digital identities on blockchain.
The project was launched in 2018, and provides on-chain domain names, and a digital identity platform that works to integrate the world on the blockchain.
On-chain domains are minted on the blockchain, thus giving their holders full ownership, unlike traditional domains that are effectively created and managed by a registrar.
Furthermore, on-chain domains have no renewal costs once purchased.
Even on-chain digital identities are of exclusive and total ownership of their owners, thus giving full control of their digital identity directly to the people.
Thanks to on-chain domains, crypto address holders can replace long alphanumeric strings with an easily readable name, with which they can access and make transactions on nearly 900 apps, wallets, exchanges, and marketplaces.
Unstoppable Domains has been awarded as the “Most Innovative Company” by Fast Company for 2023, and has been included in the “America’s Best Startup Employers” list by Forbes 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 the remarkable figure of 2.3 million members.
It was one of the first crypto communities to be founded on Reddit, and it was also a pioneer in implementing community points, thanks to its token DONUT.
r/EthTrader is also known for its innovative approach to distributed governance, weighted polling systems, and community-driven decision-making.
Now, thanks to the collaboration with Unstoppable Domains, it launches on-chain digital identities for its members, thus connecting traditional social platforms with 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 among these, there is no .donut.
DONUT is the specific token of r/EthTrader, and the on-chain domain .DONUT was created by Unstoppable Domains specifically for the members of r/EthTrader.
It should be remembered that the on-chain domains of Unstoppable Domains have nothing to do with traditional website domains, and they are not even used for the same purposes.
.DONUT is the second TLD (top-level domain) from Unstoppable Domains based on a Reddit community, after .MOON created for the 8.8 million users of r/cryptocurrency.
The .DONUT domain represents the DONUT token of the community, which has been an integral part of the governance and rewards system of r/EthTrader since its inception.
The token DONUT
The DONUT token of the r/EthTrader community landed on the crypto markets in 2020.
During the last major bullrun, the one in 2021, its price skyrocketed from 3 thousandths of a dollar to 93 thousandths in less than a month, in January of that year, and since then it has never returned to those levels.
Already in November of the same year, a strong decline began that took it from 8 thousandths to even below a thousandth of a dollar during the subsequent bear-market of 2022, only to bounce back in August 2023 to almost 30 thousandths.
The peak of 2024 was reached in March, above 35 thousandths, but afterwards it collapsed again. Now, for example, it has fallen back below 5 thousandths of dollars.
It is therefore a highly speculative token, which in the long term does not perform well, but sometimes marks wide and rapid rises that can be useful for those who want to trade it and know how to predict them.
The comment
The main moderator of r/EthTrader, Marc Aurel, stated:
“The launch of .DONUT is a significant milestone not only for r/EthTrader, but also for the entire Donut ecosystem. It is another step forward as we continue to lead innovation and scalability in the SocialFi sector. By collaborating with Unstoppable Domains, we are giving the members of our community the tools to establish their digital identities beyond Reddit, maintaining the sense of connection and shared purpose that we have cultivated over the years”.
The Chief Operating Officer of Unstoppable Domains, Sandy Carter, added:
“This partnership with r/EthTrader represents another significant milestone in connecting established Web2 communities with blockchain infrastructure. The .DONUT domain extension will allow one of the most engaged crypto communities to expand its presence in the decentralized web while maintaining its distinctive identity”.