Ethereum Name Service Announces Launch of a Governance Token
Main page News, Ethereum

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."

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

Read also:
Please describe the error