During ENS Twitter spaces celebrating the ENS 5th anniversary and reaching 1 million registered names, a couple of people asked “What’s the next big milestone?”
The next big milestones will be 1000 integrations and 1 million owners. I would like to address how we achieve that and what key metrics we should keep an eye on.
We’re pleased to announce the launch of $ENS, the governance token of ENS.
Here’s what you need to know.
The claim site is now open: claim.ens.domains.
We have the highest trust in the core ENS team at True Names LTD. Nonetheless, in preparation for the DAO and $ENS token launch, we explicitly discussed the expectation that no one would misuse insider information to unfairly profit from the upcoming airdrop, for themselves or others.
This also applies to all the work we do, e.g. no one privy to insider information due to working for True Names LTD should be using it to give themselves an advantage with ENS names sales.
Several weeks ago, we worked with our lawyer to produce the ethics policy below.
We’re sharing it publicly to demonstrate our commitment to these principles. We encourage other blockchain projects to consider producing and publicly sharing similar statements.
Since we announced that ENS would be launching a DAO and $ENS token to govern key components of the ENS protocol, we’ve had a lot of inquiries as to how the DAO will be structured and what the token airdrop to community members will look like.
Here’s an overview of what we have planned.
The core components of ENS are decentralized and self-running (e.g., no one can take away another person’s .ETH name), but there are a few things that require some human discretion.
ENS has always been an open public utility that belongs to the community. The core components of ENS are decentralized and self-running (e.g., no one can take away another person’s .ETH name), but there are a few things that require some human discretion. We believe that both ENS and the DAO space have matured enough that now is the time to pass ENS governance over to the community via the creation of a DAO and the $ENS governance token.
Specifically, we wish to have the ENS root multisig pass over control of the existing ENS treasury, its future funds, and control of the .ETH registrar contract that is in charge of the pricing and registration mechanism for .ETH names. The first order of business for the ENS DAO will be to formally request these from the ENS root multisig key holders.
Starting today, people may nominate themselves as ENS governance delegates. $ENS tokens will be opened for claiming a week from today (snapshot was made yesterday). Here is more information about the token distribution.