Ethereum Name Service (ENS), an Ethereum-based, open-source platform for domain names, announced on Monday that it will use delegates and a dedicated token to decentralise its governance process.
The $ENS token was first announced in a blog post by the protocol’s creators, who said that they think that both ENS and the DAO space have matured enough that now is the time to transfer ENS governance over to the community via the development of a DAO and the $ENS governance token.
The group then proceeded to write: “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.”
There is currently no information on the distribution method or the number of $ENS tokens that will be produced. The team further said, “$ENS tokens will be opened for claiming a week from today (snapshot was made yesterday), with more details about it then.”
According to the blog post, the delegate-focused paradigm is “a terrific place to start,” but it may evolve or alter over time. The post also includes a link to nominate community members as delegates.
Finally, the team said, “We need individuals and groups who are dedicated to the growth and longevity of ENS. If you’re interested in taking an active role in ENS governance, now’s your chance.”
Earlier in August, the owner of a DNS integrated with ENS on Ethereum Mainnet. This integration helped the owner of a DNS domain to import it for usage on ENS.
