How does {ticker}.token work?

This partnership with @Rugcheckxyz will allow domain names to be registered by TOKEN teams aiming at long-term stability and building trust with their users! These domain names will serve as an on-chain identity for projects hosting all the associated information and links for the project on the domain's metadata.

There is a multitude of perks for your .token domain names:

• Token verification with automatic eligibility check via https://rugcheck.xyz

• The domain acts as a verification badge for the project’s mint address

• .Token domains can also hold associated metadata* i.e description, website, X, telegram, discord URLs

• Allows users to search explorers using {ticker}.token to view project funds and activity quickly without the need to locate and copy/paste addresses

You can also think of .token domain name verification as an authenticity certificate: Getting a .token domain name for your $TICKER will allow you to:

• Verify token ownership: Authenticate the identity of the token and check that the funds are safe

• Combat fake tokens: Reduce the risk of swaps between counterfeit versions of the token

• Build community trust: Signal users that the token is trustworthy and has a long-term vision

• Improve trust scores: Many protocols prioritize verified tokens. RugCheck will perform regular automatic audits of verified tokens. Should a token fail an audit or not be renewed, the token domain will be revoked

*Token Metadata Storage:

Alpha version (current): Web2 DB

Second version: On-chain Program that owns the Records for each Token’s Metadata. The authorities that can change the data will be @AllDomains_ and @Rugcheckxyz

Third version: Add a more complex ACL for managing the Metadata. This could be either multiple parties or a DAO.