After Token Launch, Cloudname Strengthens Its Operations

Cloudname, a domain trading platform that has introduced the non-fungible technology-enabled tokenization feature in the lucrative domain trading space has recently reported a successful listing on Gate.io and MEXC. The platform allows you to register, trade, rent and tokenize both traditional and blockchain domain names, apart from the feature that allows the creation of multiple Non-Fungible Tokens for a domain and consequently, the partial ownership of valuable domains.

What Does Cloudname Offer?

Cloudname’s CEO, Davide Vicini, has rightfully captured the vision of Cloudname in his description of the company as “a contemporary blend of innovation, digitalization, and investment that will bring untapped opportunities to the masses interested in exploring the world of domain trading." Indeed, it truly offers inclusivity in terms of its services.

Not only can big business owners and industrialists benefit from the services offered by Cloudname, anyone who is unable to buy a domain worth a fortune can now rent it through Cloudname’s domain renting feature. Besides this, Cloudname also offers integration of 20 different APIs with providers, empowering users to spot trends in the market before they get saturated and tools that enable discovery and display of pricing factors of domains, their analytics and predictions.

The Role of CNAME, Cloudname’s Native Token

The native token of the Cloudname platform, which also acts as a governance token, CNAME, has several roles that it fulfils in the Cloudname ecosystem. The token, apart from functioning as a metric system for determining the level of users, also empowers the holders with several benefits, such as free registration, fee discount, free sale promotion, participation in lotteries, access to the use of predictive algorithms and so on. The user-level system is determined using the CNAME tokens, wherein a larger stake of CNAME tokens gives your account a higher level and consequently unlocks and grants you more benefits.

The four user levels are:

• NEWBIE: users without any CNAME token holdings
• ROOKIE: users with 300 or more CNAME tokens
• PRO: users with 1500 or more CNAME tokens
• NINJA: users with 3000 CNAME tokens

A Hugely Successful IDO

The IDO or Initial DEX (or Decentralised Exchange) Offering of the CNAME token was extremely successful and ended on the 22nd of February. A total of 3.8 million $CNAME tokens, valued at around $22.8 million and accounting for about one percent of its total supply, were raised through the IDO on PancakeSwap, Polkabridge, Dodo and Synapse Network.

Moreover, Cloudname successfully listed its utility token CNAME on the centralized Crypto exchange (CEX) Gate.io, which is one of the top 10 exchanges globally. It has a 24-hour volume of $1.2 billion. Furthermore, Cloudname carried out a successful listing on the popular digital asset trading platform boasting of more than 7 million users, MEXC Global. Established way back in 2018, MEXC Global offers spot, margin, leveraged and derivatives trading as well as staking services and is reportedly seeing huge leaps in their graphs after the CNAME listing.

In short, following a very successful listing across platforms, Cloudname is hurtling towards achieving its mission of completely tapping into the domain trading market.