Domains are purchased on the home page through Stripe. Once payment is received, we then purchase the domain using the Name.com API and give you control over it

Domains are purchased on the home page through Stripe. Once payment is received, we then purchase the domain using the Name.com API and give you control over it. This is similar to how Namecheap did things when they started (resold through enom), and how Amazon still does it (uses gandi.net). Unfortunately registering to become an actual registrar is quite expensive, so reselling is the only real way to get started. We haven't drafted a formal AUP for the beta (purely from lack of time), but you can expect something similar to what you'd get from other domain sellers.