Ethereum name services just aired its DAO ENS token and its price has increased 16% as we read more about it in our latest Ethereum news.
Twitter was on fire when the Ethereum naming services just released their DAO token, a new governance token in addition to the existing name registrants.
Most of the users are delighted as some of the name owners are making huge profits from the rapidly increasing value. Director of Operations at ENS Brantley.ETH announced and explained the recent airdrop and, on behalf of decentralization, stated that the team will transfer ENS governance to the company through their new governance token ENS delegate:
“Specifically, we would like the ENS root multisig to take control of the current ENS Treasury, its future funds and the .ETH registration agreement which is responsible for pricing and the registration mechanism for the name. ETH.”
$ ENS started!
Authorized users can assert claims $ ENS Admin token at: https://t.co/ZGGfGLhdhS
No rush: you have * 4. May 2022 * time to claim your tokens. Request the gas cost so don’t hesitate to wait for cheap gas prices. Https://t.co/TuheiI0w9i
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First /– ens.eth (@domain) November 9, 2021
People didn’t have to register to receive the airdrop, but the admin token was sent to those who bought at least one ENS domain. Brantley also encourages holders who do not intend to vote themselves to make their tokens available to delegates. He later confirmed on Twitter that over 137,000 accounts were eligible for the airdrop without investors cutting back. The token kicked off a week later and started trading at $ 18, but then rose steadily throughout the day, peaking at $ 54. However, when it rose to $ 47 while maintaining a 160% increase from its beginning.
To date, the token has a market capitalization of $ 627 million, meaning more than half a billion dollars have been given to eligible accounts and users on Twitter have started to celebrate the value of the token they received. For example, Toneyherrera.eth has said it will be eligible for more than 1500 tokens at launch, which is over $ 60,000. The Ethereum Domain Name Service was developed to append human-like names to cryptocurrency addresses, while ENS is supposed to be a Web 3.0-equivalent domain name service with various functions.
As recently reported, it was first announced in a Medium post published on October 17th that the service would allow enthusiasts to use an ENS name for all crypto wallets. It should be noted that the ENS user interface currently only supports Ether (ETH), Bitcoin (BTC), Litecoin (LTC) and Ethereum Classic (ETC) addresses and not all cryptocurrencies.
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