Beldex is excited to announce that the BNS Marketplace, a decentralized and private secondary marketplace for BNS name trading, is now LIVE!
The BNS Marketplace is a peer-to-peer platform that enables users to buy, sell, and trade BNS names directly with one another.
BNS (Beldex Name Service) was built to simplify interactions across the Beldex ecosystem by providing human-readable identities that users truly own. Instead of relying on long wallet addresses, complex BChat IDs for messaging, or illegible BNS addresses for private domain hosting, BNS introduces an intuitive identity layer for BChat and Beldex wallet-linked interactions, as well as BelNet’s domain-style functionality across the ecosystem.
With the launch of the BNS Marketplace, users can now buy and sell BNS names, register new names, manage transfers, receive transaction updates, and oversee ownership, all through a single connected platform.
But how does the BNS Marketplace work, and what can users expect from the experience?
In this article, we’ll explore how users can buy, sell, and trade BNS names, transfer ownership, track marketplace notifications and transaction timelines, and register new names directly within the marketplace.
Buy & Sell BNS Names: https://bns.beldex.io/marketplace
Sell Your BNS Name With Verified Ownership
One of the key features of the BNS Marketplace is the ability to list and sell owned BNS names directly to other users through a peer-to-peer marketplace.
Before listing a BNS name for sale, users must log in or create an account. New users can sign up by connecting a supported wallet such as MetaMask or Trust Wallet.
After connecting a wallet, enter a username, select an avatar, and click ‘Sign Up’ to create your account.
To list a BNS name, select the Sell option and enter the name you wish to sell. You can then set a listing price in BDX based on the value you assign to the name.
Before the listing can be published, ownership of the BNS name must be verified. As part of the verification process, a small amount of BDX will be sent to your Beldex wallet. This transaction serves as proof that you control the wallet associated with the BNS name being listed.
Once the transaction is received, enter the exact amount of BDX you received and copy the transaction hash from your Beldex wallet and submit it in the marketplace's verification field.
Once verification is successful, you can either publish the listing immediately or save the verified name under the My BNS section and list it at a later time.
Buy BNS Names Through Secure Marketplace Trading
Buying a BNS name through the marketplace ensures that both ownership transfer and payment settlement are handled securely via automated escrow.
Users can browse available BNS name listings from the homepage or search for a specific BNS name they wish to purchase. Once a listing is selected, the process begins by clicking the ‘Buy Now’ option.
Buyers must provide ownership details that determine how the BNS name will be configured after the transfer. This includes an Owner Wallet Address and a Beldex Wallet Address to receive BDX. Users may use the same wallet for both purposes or choose separate addresses.
Buyers can also optionally provide additional details, such as a BChat ID, BelNet domain address, and ETH address, to associate the BNS name with supported services across the ecosystem.
Important:
- A refund wallet address must be provided before the purchase can proceed.
- If the ownership transfer is not completed within the required timeframe, the transaction will expire, and any funds held for the purchase will be automatically refunded.
Once purchase details are submitted, the seller receives a purchase request notification. After the seller accepts the request, the buyer receives payment instructions and can proceed with the payment.
However, the transaction is not finalized immediately. The BDX payment is temporarily held in escrow while the ownership transfer process is completed.
The seller is then guided through updating the values like Beldex wallet address, BChat ID, and BelNet domain address in the Beldex Electron Wallet by entering the buyer's information and submitting the required verification on the marketplace.
Once the submitted values are updated and verified, the ownership transfer is then initiated and subsequently confirmed on completion.
After the transfer is successfully completed, the escrowed BDX is released to the seller, and ownership of the BNS name is transferred to the buyer.
At this stage, the seller will be notified that the ‘Transfer is Complete and Sold.’ On the other hand, the buyer will be notified that the ‘Purchase is Completed.’
Note:
To ensure efficient marketplace operations, the entire ownership transfer process must be completed within four hours. Any incomplete transactions will automatically expire once this timeframe has elapsed.
Register a BNS Name Directly On the BNS Marketplace
Alongside buying and selling, users can also register new BNS names directly on the BNS Marketplace.
Users can search for a preferred BNS name and check whether it is available to register. If available, they can continue with the registration by selecting a preferred ownership duration such as 1 year, 2 years, 5 years, or 10 years.
Now the user needs to enter a wallet address and optionally enter the values for private identity-linked services such as BChat ID, BelNet domain address, and ETH address.
Once the registration details are submitted, the BNS marketplace generates a payment request. Send the specified BDX amount to the address shown on the screen using the Electron Wallet to complete the payment.
Payments for new registrations must be completed within one hour, after which requests expire automatically.
After successful payment confirmation, ownership is assigned, and users can track the status of their names through the My BNS section in the BNS marketplace as well as on the Beldex Electron Wallet.
Private and Decentralized Names
BNS names are more than identifiers; they represent a user-owned digital identity that can be used across the Beldex ecosystem. As adoption grows, they are becoming an important part of how users manage identity, ownership, and interactions across Beldex services.
The BNS Marketplace simplifies participation in this ecosystem by bringing name registration, buying, selling, listing management, and escrow-protected transactions into a single platform.
Unlike traditional naming systems, where ownership and control are often dependent on centralized providers, decentralized naming allows users to own, manage, and transfer names directly without intermediaries.
With the BNS Marketplace, Beldex takes another step toward making decentralized digital identities more accessible, practical, and interconnected across its ecosystem.
Listen
back to blog