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Ethereum Name Service officially launches ENS tokens with a total token offering capitalization of $ 3.1 trillion

Ethereum Name Service (ENS) became debut ENS governance token is used today to further decentralize the popular domain service for Ethereum wallets.

The official announcements from ENS confirm that ENS tokens will be used to vote on a proposed constitution and regulate protocol parameters. The first topics that the owners can vote on in the new ENS DAO are the award oracle and the current and future allocation of municipal treasury funds.

Ethereum wallet users who have created ENS domains in the past are entitled to claim ENS tokens from the claim site until May 4, 2022.

Unclaimed tokens will be sent to the DAO Treasury. The ENS domain sorts readable names with the ending .eth (like “alice.eth”) into Ethereum addresses.

A quarter of the entire ENS token offering was made available to .eth domain owners. Each wallet receives a different number of ENS tokens depending on how long the domain was held, the expiration date and whether you have set a primary ENS.

At the time of writing, crypto data aggregator CoinGecko estimates that ENS ranks as the 332nd largest crypto asset with a market cap of $ 213 million and a massive total token supply cap of $ 3.16 trillion.

The token has seen extreme price volatility and nine-digit trading volume, most recently at $ 28.7 with a daily gain of 60% at press time.

Source: Coinecko

SushiSwap has moved to encourage users to add liquidity to their WETH / ENS pool and is offering SUSHI rewards.

The source: Twitter

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.