.Net registry asks for permission to release short domain names.

VeriSign has asked ICANN (pdf) to allow it to release one and two character .net domain names.

In its proposal, VeriSign says it will auction the domain names in an English style auction with no end date. The auctions will continue until no further bids are received for a specific period of time.

Once won at auction, these domains will act basically like any other .net domain names, with an important caveat: if it expires and goes to pending delete, VeriSign won’t let the domains drop. Instead it will re-auction the domain name and keep the proceeds.

VeriSign says it will use the revenue from the auctions to promote general awareness of .net.

Like in other Verisign proposals, the company is starting with .net instead of .com to test the waters. In its request for one and two character .net domains, VeriSign says a release of one and two character .com domains would be handled differently than for .net and proceeds from that would be used for the “benefit of the general Internet community”.

Some one and two character .net domain names, including q.net, were registered prior to current restrictions and have been grandfathered.