If we accept expiring account names as core naming infrastructure, we undermine trust in the entire space at its most basic level.
ENS replicated the web2 domain model: names expire, must be renewed, can be sniped when you forget, and can be traded. That may be fine for websites. It is not acceptable for the identifiers people use to receive money.
Stele exists to fix this with permanent, non-transferable names that put users first: one name, one address, forever. No governance, and 80% of every fee burned.
Not another naming system.
A foundation for payments.
Permanent ownership
Identity is not a subscription. Pay once and the name is yours forever.
Non-transferability
Focus on secure value routing, not speculation. One name, one address.
Simplicity
One contract, one mapping. No governance or configuration overhead. No governance token.
ETH-aligned
80% of every fee is burned. Value accrues to ETH holders, not to a token.
Stele vs ENS.
ENS is fundamentally broken. Names function like expiring bank account numbers: if you forget to renew, the number can be reassigned to someone else, and incoming payments may be redirected without notice. Stele replaces this broken model with permanent ownership.
| Feature | ENS | Stele |
|---|---|---|
| Ownership | ✕Names expire and must be renewed | ✓Names are permanent — no expiration, no renewal |
| Transferability | ✕Names can be transferred & traded, incentivizing speculation and squatting | ✓Names are bound to one address forever — no speculation, no squatting |
| Safety | ✕Expired names can be sniped — funds may go to a stranger | ✓No expiration means no sniping risk |
| Pricing model | ✕Annual rent, character-based pricing (3-char names cost $640/yr) | ✓One-time fee, same price within a namespace regardless of length |
| ETH alignment | ✕Governance token ($ENS) with no value accrual to ETH | ✓80% of fees burned — directly benefits ETH holders; no valueless governance token |
| Namespaces | ✕Single global namespace (.eth), creating artificial scarcity and forcing users to compete for short names | ✓Many first-class namespaces — users can choose expressive domains and avoid scarcity by design |
| Smart contract naming | ✕Unsuitable — subscriptions for immutable systems | ✓Permanent identity for immutable contracts |
| Complexity | ✕High: ~12 interacting contracts, commit-reveal, resolvers, wrappers | ✓Low: Single contract, simple mapping |
| Character set | ✕Unicode-heavy names enable homoglyph and zero-width character attacks | ✓Limited to a-z, 0-9, and hyphens — no lookalike or invisible-character tricks |
| Oracles | ✕Names priced in USD — depends on an oracle for ETH conversion | ✓Everything priced in ETH — no oracle dependency |
| Governance | ✕DAO governance can change rules, fees, and direction over time | ✓No governance — rules are fixed in the contract |