Nym.exchange - Grantee Update 1 (Mar 27)

Hello NEAR Community!

I’m excited to share a project we’ve been working on that will allow all NEAR users to trade, auction & transfer NEAR account names.
This project is called Nym.exchange!

What is Nym.exchange?

A simple interface for auctioning or trading NEAR account names.

Why is it called Nym?
The name is derived from the word: “Pseudonym” which means “fictitious or false name”, essentially all account names in NEAR are pseudonyms for a user or contract. Therefore, nym is our short way denoting the project in an easy to remember name.

A little back story & why we’re building this:
Back in August 2020, a colleague and I were building some PoC apps on NEAR, but kept finding reasons for poor UX. The common theme across all of the interactions and app overall experience forced the user to be in charge of finalization steps. This is clearly not ideal, especially in an asynchronous blockchain system where a user should not be in charge of workflow.

Progress Report

Here’s a recap of current progress:

  1. Escrow Contract: ~60% built, able to fully test deployment of deed contract, and keep track of accounts in escrow.
  2. Deed Contract: ~70 built, went through 10 iterations of this contract to get the transfer as trustless as possible. Found several ways that would be ever better, but require protocol features, might submit a new NEP on this later.
  3. Auction House: ~50 built, this contract is the main controller of the auctions and has been in progress for a while. Working on integrating the latest escrow logic in for testing this week.
  4. Website UI: Started this week, using vuejs, tailwind 2 & near-api-js. More updates next time!

Grant Funding
We are honored and humbled by the opportunity to build this utility for the NEAR ecosystem. The NEAR Foundation has accepted the Nym Exchange project proposal.


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