ENS jumps 180% as Ethereum Name Service transitions to DAO governance |

After a long delay, the Ethereum Name Service has finally transitioned to DAO governance. The jump in value for all ENS names is said to be due in part to this transition, but speculation about the future of the project remains high.

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The “ENS jumps 180% as Ethereum Name Service transitions to DAO governance” is a news article about the transition of ENS from a centralised organisation to a decentralised one. The article includes information on how this will affect the future of the project and what it means for users.

The protocol’s governance token, ENS, has been formally introduced by Ethereum Name Service. .eth domain registrants have been given a quarter of the total ENS supply, which they may claim until May 4th, 2022.

$ENS is now live!

At https://t.co/ZGGfGLhdhS, eligible users may collect their $ENS governance tokens.

There’s no need to rush: To collect your tokens, you have until *May 4, 2022*. Claiming costs petrol, so you may save money by waiting for lower gas prices. https://t.co/TuheiI0w9i

1/ Blog or for further information

November 9, 2021 — ens.eth (@ensdomains)

The token’s price increased by almost 180 percent after the announcement of the airdrop, hitting an all-time high of nearly $51.

The Ethereum Name Service will be governed by the newly airdropped ENS currency.

With the debut of its governance token, ENS, decentralized name operator Ethereum Name Service has seen its popularity soar. The service, which was founded in 2017, formally launched the cryptocurrency on Monday and said that a quarter of its supply would be allocated to.eth domain proprietors.

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Following the airdrop, the price of ENS jumped by more than 180 percent, from $17.63 to an all-time high of $51.

ENS-jumps-180-as-Ethereum-Name-Service-transitions-to-DAOOn November 9th, a screenshot of the ENS price chart was taken (Source: CoinGecko)

The amount of ENS provided to each wallet will vary based on how long it has had its domain, when it expires, and if it has a Primary ENS, according to the official release on Mirror. Users will have until May 4th, 2022 to claim ENS tokens from the claims address, after which time all unclaimed tokens will be delivered to the DAO treasury.

Users who claim their tokens will be able to vote on the proposed ENS Constitution, which comprises a set of regulations for the ENS DAO, the following week. The protocol declared earlier this month that it would be shifting to a completely decentralized system, claiming that the DAO and the organization have matured sufficiently to entrust the governance process’ basics to the community.

Users will be invited to transfer their voting power to one of the delegates who have nominated themselves to assist with ENS governance throughout the claiming process. Around 300 potential delegates have signed up so far, with corporations like Coinbase joining the campaign to promote the DAO.

To support the future of ENS, we’re participating actively in the @ensdomains DAO.

We anticipate a positive reaction from the community and want to contribute our combined experience to promote a decentralized identification standard. You may delegate us here: https://t.co/7hC7RW1hR3

November 8, 2021 — Coinbase (@coinbase)

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