The ownership scheme in the name registry is as follows (from top to bottom):

1. Top-level domains are created by the administrative multisig and then transferred to the TLD registrar contract.

2. Second-level domains are in turn created by the TLD registrar on behalf of buying users and transferred to them upon creation. The users are then responsible for their management.

3. Third-and-higher-level domain creation and management is completely in the hands of the users.

Administrative Multisig

This is a formally verified multisig contract with keys held by well-known community members. It's needed for administrative actions like:

• creating new top-level domains,

• updating the TLD configuration,

• deploying new versions of contracts if a critical vulnerability is found.