The Ethereum Name Service (ENS) project team has just announced it has switched to a decentralized governance model with community delegates and a governance token. It has reported:
"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."
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Under community control, the team intends to transfer existing and future project funds, as well as the pricing and registration mechanism for .ETH domain names. ENS said:
"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), with more details about it then."
According to the project developers, the delegation model is a "good start." While each community member will be able to vote independently, the team intends to encourage token holders to delegate their authority to the declared leaders.