Registrations
To use the application, users must register .lz domain. A domain registration is an ERC721 NFT with some special properties:
Domain registrations always have expiry dates. To keep a domain, users must make sure to renew the domain before it expires.
Expired domains are sold at auction. Expired names that are not sold at auction can be registered by others.
The system allows for suspension & revocation of domains. Be sure to read about & understand these features.
The Domain Name Lifecycle covers all the stages a name will normally pass through. Of course, ERC721 NFTs can be transferred & traded on NFT exchanges.
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