Proposal: Whitelist Wrapped Handshake (WHNS) with 250k Co-Investment

Proposal: Whitelist Wrapped Handshake (WHNS) with 250k Co-Investment

This proposal is expected to appear on Snapshot for voting on TBD. (Awaiting Etherscan contract verification)


  • Whitelist WHNS
  • Bancor would have the vast majority of WHNS liquidity, it is basically non-existent across any other DEX/AMM on Ethereum (See below for details on Uniswap V3 liquidity).
  • 250,000 BNT Co-Investment from Bancor DAO, to bring depth to the WHNS/BNT pool out the gate, allowing for size to be traded. LP’s will have no choice but to come to Bancor if they want to trade HNS on Ethereum as WHNS, Bancor LP’s will benefit greatly.
  • HNS network has proven to be secure, operational, and integral to decentralized Web 3.0.
  • HNS has a strong community to build with, and Namebase has been very welcoming of being the go-to source of liquidity on Ethereum.

Product Site: +

Contract Address: 0xA771b49064Da011DF051052848477f18DbA1d2Ac


Handshake protocol allows true ownership of TLDs (Top Level Domains) by storing the data in a distributed and decentralized PoW blockchain. It allows open participation in the system by giving an option of running a full node for mining or a light client for validating. Handshake is integral to the web 3 stack because it allows anyone to validate and secure the root zone, making it uncensorable from third-party gatekeepers such as ICANN. ICANN charges high evaluation fees with no guarantee of getting accepted, controlling TLD ownership with the ability to shut them down at their whim. Contrast this to Handshake where TLDs are won through public auction, with no prior pre-mining of names, and secured by decentralized proof of work miners and a distributed node network. Handshake allows TLDs to be verified by browsers without the need of centralized certificate authorities. Currently when a browser requests to interact with a website, 3rd parties are needed to secure and validate the connection, these 3rd parties can be compromised and sometimes are. Handshake removes this security risk by moving the root of trust to its blockchain. As crypto grows it needs a free source decentralized web to grow with, HNS is part of that future. A more in depth overview is provided by Namebase here; About Handshake - Namebase Learning Center

Project Statistics Overview: Stats | Namebase

Token Security

HNS is used to transfer, register and update domain names. It is also needed by the network to prevent sybil attacks, aiding in making the network secure. HNS has a max supply of 2,040,000,000. 2/3 of the initial supply (½ of the fully diluted) was made available by airdrop to open-source software organizations, giving it a wide and fair distribution. The first halving of mining rewards will occur after 3.25 years, after 5 years 60% of the total supply will have been minted. Of the initial supply, 7.5% was given to founding members, an additional 7.5% was sold to investors in exchange for $10.2m USD. No founding member or investor controls more than 1.5% of the supply. Losing bids are returned to bidders while the winning HNS bid is burned, making HNS deflationary. For up to date statistics on burn rate and bid data please refer to this dashboard by Shakestats;

Token Economics: HNS coin economics - Namebase Learning Center

Information regarding current token holders below, current holders of WHNS total to 46, as HNS holders need to wrap their HNS via Namebase, before being composable with Ethereum.

Market and Trading Data

  • HNS current price as of writing is $0.24
  • ATH: $0.85
  • ATL: $0.075
  • Price 90 days ago: $0.22
  • 24 Hour Trading Volume: $929,722
  • Circulating supply: 421,539,620
  • Total supply: 2,040,000,000
  • Circulating market cap: $101,413,101
  • Main source to buy HNS is currently Namebase

Co-Investment Reasoning

Being the go-to source of liquidity on Ethereum is no small feat, it is one of the most unique opportunities for Bancor to gain leverage on trading for a specific asset. The co-investment requested from the DAO is 250,000 BNT (~$900,000). Between Namebase, and larger investors alone, there is ~2.5m WHNS (~$600,000) that is earmarked for deposits into the Bancor WHNS/BNT LP, making Bancor not only the largest source of liquidity by a landslide, but the only option for WHNS trading and liquidity provision on Ethereum. Below, stats on Uniswap V3 which was the only other contract with WHNS:

Community & Communication

Handshake has a strong community who support the network and constantly make strides to improve and iterate upon it. For example, Namebase is active on Twitter and provides a wonderful hub for anything and all things Handshake. They have streamlined the process of bidding and maintaining Handshake TLDs making it easier for people, who may not be crypto native, to get involved in a decentralized web. They also have a wonderful database of information to learn more about Handshake, and a discord for the community to get together. Another active community contributor, Shakestats, has made an elegant dashboard for users to easily digest the data on Handshake ( The community is hosting an online conference September 22-24th, NamesCon, where Handshake users and applications will be discussed as well as the future of the project. This is just a small example of the dedication and belief that the community has for the project.


Reddit: Telegram:

Grants and Sponsors: Handshake

Namebase Discord: Namer Community

Benefits for Bancor + Handshake

  • Bancor would become the literal go-to source of liquidity for HNS on Ethereum (as WHNS) and would get the lion’s share of trading volume. Currently liquidity is not deep enough to allow for big trades, this can limit the amount of interest a project may get because traders/investors do not have liquidity to enter and exit the market.

  • With a Bancor whitelisting, more volume can come into HNS via WHNS, driving more bids and auctions on Namebase, which will further the growth of Handshake and benefit everyone participating in the decentralized web.

  • Namebase, as well as large holders have committed to pooling 2.5m WHNS, when including the BNT co-investment, this becomes a $1.5m LP pretty much immediately, this doesn’t include speculation of pool growth once cross promotion for Namebase + Bancor begins. The Handshake community will recognize Bancor as the go-to source of liquidity and are able to pool without risk of impermanent loss, this is a game changer for those that might/might not be familiar with IL.

  • Further establishing a home for dWeb (Decentralized Web Infrastructure) communities on Bancor as a safe haven to stake their tokens and earn “safe” yield on their tokens.

Vote FOR: To whitelist WHNS & co-invest 250k BNT

Vote AGAINST: Do NOT whitelist WHNS & do NOT co-invest 250k BNT

Proposal created by @0xUST & @YoniBologna

Thank you for your consideration and time.


Proposal looks good to me. Thanks for bringing this up and looking forward to seeing this on snapshot.

1 Like

Thanks Glenn, unfortunately it looks like the token is not yet technically eligible to be whitelisted (YET!) so we’ll have to revisit (then vote) on the proposal soon, when the Namebase team is able to help fill all requirements.