A Decentralized Name System for the New Internet
Butterfly Protocol team is creating a decentralized autonomous organization (DAO) that will replace the DNS system and change the economics of domain ownership. Only by incubating a DAO Registrar with its own tokens can we create a lasting, self-sustaining economy that can replace ICANN. This ability to remove people and governments from the central control of the Internet is paramount to create a lasting uncensored internet. Top-Level Domain (TLD) sponsorship is the first step in our process with BFLY tokens used and then burned for sponsoring. Once a TLD is sponsored, it sets off a series of events such as the creation of tradable subBFLY tokens, auctions and more. As opposed to ICANN, once you acquire a domain under a TLD, you can own it forever and never pay yearly registrar fees again. And you can create your own ecosystem of dApps with its own token economy. You are in control so be prepared to take it.