ENS Raffles

Raffle ENS names on Layer2

Why ENS need a layer2 raffle system

Ens names market isn't liquid, people need to wait years to sell a domain and have difficulty showing their domains to the market. Now, they can sell tickets to win a domain, instead of selling a domain.

With raffles on Layer2, people who still don't own an ENS name can buy tickets for 1 USD each and have the possibility to win a top tier ENS name.

When a ENS owner set up a raffle, the domain is locked in a escrow contract on Ethereum network. Then the raffle on Layer2 is created. People buying tickets are sending their money to an escrow. At the end of the Raffle, Chainlink randomly selects a winner. If the raffle doesn't reach the minimum target, all people who bought tickets get their money back through a claim process.

ENS Raffle is already available on testnet (Ethereum Goerli + Arbitrum Goerli).

The same raffle system has also been designed to raffle subdomains. This is interesting for big communities that want to give emancipated subdomains to their community.