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ENS Token

ENS Token

The ENS token is a governance token used to govern key components of the ENS protocol

Overview​

The ENS DAO was created in November 2021 with the launch of the $ENS tokenLearn more about the ENS token →, which serves as the governance token for the Ethereum Name Service (ENS) protocol.

Governance​

  • Delegation: $ENS holders can delegate their tokens to others (Delegates), who can then submit and vote on proposals related to ENS protocol changes and DAO treasury spending.
  • Voting: Each $ENS token represents one vote in the DAO.

Initial Distribution​

  • 25% (25 million $ENS): Allocated to core contributors, ecosystem partners, and community members. Tokens for core contributors and launch advisors are subject to a four-year lock-up and vesting schedule.
  • 25% (25 million $ENS): Available to be claimed as an airdrop by addresses that had registered a .eth second-level domain before the snapshot taken at midnight UTC on October 31, 2021.
  • 50% (50 million $ENS): Allocated to the DAO’s treasury. 10% of this was available at launch, with the remaining remainder unlocking linearly over four years from November 8, 2021.
Learn more about the initial distribution of $ENS here

Airdrop​

  • Eligibility: Based on .eth registration history and whether the address set a Primary ENS Name.
  • Airdrop Window: Opened on November 8, 2021, and closed on May 4, 2022.
  • Unclaimed Tokens: After the airdrop window closed, unclaimed $ENS tokens were transferred back to the DAO treasury.

DAO Treasury​

  • Initial Claim: 5 million $ENS (10% of the treasury allocation) was claimed at launch.
  • Unclaimed Airdrop Sweep: On May 5, 2022, unclaimed airdrop tokens were swept back to the DAO treasury.
  • Unlocking: The remaining 45 million $ENS allocated to the DAO unlocks linearly over four years and can be claimed by the DAO through governance proposals.

Minting Rights​

The ENS DAO has the right to mint up to 2% of the current total supply of $ENS per year. After minting, the DAO must wait one year before it can mint again.