Sedo issued a proposal for the auction of one letter .COM domains in order to avert an increase in ICANN fees.
Sedo proposes that the proceeds from the auction of uniquely valuable domains go directly to bolster the ICANN budget, offsetting the proposed new ICANN fees. The company estimates that the sale of the remaining 23 one-letter .com names would generate approximately $2 to $5 million.

• Original Press Release
• Full proposal

[via The Whir]