The token manager program is a wrapper protocol that allows for peer-to-peer rentals. A holder of given token can instantiate a new token manager with their desired rental parameters and issue the token into it. Once claimed from escrow, the renter will hold the token for the specified duration after which it will be returned to the issuer.
The namespaces protocol is a layer built on top of token manager that allows for on-demand rentals and subscriptions. It was created to facilitate use cases that involve more automation and aim to allow users to claim rentals constructed from a templated, pre-determined set of parameters.
A short post can be found here