Ethereum Name Services Have Just Airdropped Its DAO Token-ENS

Ethereum Name Services Have Just Airdropped Its DAO Token-ENS

The Ethereum name services have just airdropped its DAO token ENS and its price increased by 16% as we are reading more about it in our latest Ethereum news.

Twitter got on fire as Ethereum name services have just airdropped its DAO token, a new governance token on the existing name registrants. Most users were excited as some name holders raked in huge gains from its fast appreciating value. The director of operations at ENS Brantley.ETH announced and explained the recent airdrop and in the name of decentralization explained that the team will pass ENS governance over to the company via their new governance token and since then, a lot of community members could start applying to become ENS delegates:

“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.”

People didn’t need to apply to receive the airdrop but the governance tokens were airdropped to those that purchased at least one ENS domain. Brantley also encouraged the holders which had no intention of voting on their own to offer their tokens to the delegates. Over Twitter, he confirmed later that over 137K accounts were eligible for the airdrop with no investors having to make the cut. The token launched a week later and started trading at $18 but then began a steady climb over the day with it peaking at $54. however, since it went to $47 while maintaining a 160% increase from where it started.

So far, the token has a market cap of $627 million which means more than a half of billion dollars have been awarded to the eligible accounts and the users on Twitter already started celebrating the value of the tokens that they recieved. Toneyherrera.eth for example said that he was eligible for 1500+ tokens upon launch which is equal to over $60,000. The Ethereum Name Service is designed to attach human-like names to crypto addresses while ENS is meant to become the web 3.0 equivalent Domain Name service with plenty of different capabilities.

As recently reported, First unveiled in a Medium post published on October 17, the service will allow enthusiasts to use one ENS name for all of their cryptocurrency wallets. It is noted that the ENS user interface right now supports only Ether (ETH), Bitcoin (BTC), Litecoin (LTC), and Ethereum Classic (ETC) addresses and not all of the encodings.

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