4.2 Risks and Mitigations

Prior to accepting new ownership, users should verify the expiration date to avoid accepting an expired handle/subhandle, which would result in burning upon reclamation through the mint functions.

Users should exercise caution when transferring ownership. They are accountable for their crypto assets within their Token Bound Account (ERC-6551). Before initiating any trade or transfer with their handle/subhandle, users must ensure all assets are moved out of the Token Bound Account.
Monitoring the expiration date is the user's responsibility. Upon handle/subhandle expiration, users must transfer all crypto assets from the Token Bound Account to prevent them from being burned. Assets are burned when users reclaim ownership of the handle/subhandle by minting a new one. The reclaimed handle/subhandle receives a new token ID, while the old token ID is sent to the burn address. Retrieving assets from the TBA after they are sent to the burn address is not possible.

Users must ensure that registration/renewal or subhandle permission fees are accurate by utilizing the calculateHandleFee or calculateSubhandleFee function. Overpaid fees will be sent to the smart contract address, requiring users to contact the feeRecipient to reclaim the funds.
Sub-Handle Permissions will be set to off when the parent handle is transferred to another address while subhandle permissions are set to on. Therefore, please be mindful before activating the toggle switch, as there is a 0.0029 fee to turn it back on.
Registration and renewal fees are non-refundable.

The contract owner can mint handles ranging from 4 to 18 characters for free, each with a 3-year expiry. This feature is intended for minting handles for alpha participants. Users must trust that the contract owner will not exploit this privilege for personal gain. Renouncing ownership of the smart contract will forfeit this capability.

If we encounter a bug or glitch that is intolerable, we may have no choice but to perform a hard fork of the smart contract and airdrop everyone's handles. This would involve creating a new version of the smart contract that fixes the issue and redistributing the affected handles to their respective owners. This smart contract is built on a specific version of Solidity (pragma 0.8.24) for optimal performance and security and cannot compile with newer versions.

Last updated 3 months ago