What are the requirements for registering a .LY domain?

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• What are the requirements for registering a .LY domain?
• What is the minimum registration term allowed?
• Do you offer Trustee for this extension?
• Does this extension support third level domains?
• Is there an official whois server for .LY domains?
• Does .LY support IDN characters?
• What are the minimum and maximum length of characters?
• What characters .LY extension supports?