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Ethereum Name Service Governance Token



The Ethereum Name Service's governance token is finding its way onto crypto exchanges - bringing it to an enormous, fully diluted market capitalization.

Ethereum Name Service (ENS) launched its own governance token on November 8th. The "$ ENS" should help to promote the decentralization of the popular platform.


With the Ethereum Name Service, users can provide their Ethereum wallets with short and concise URL addresses that end in “.eth”. The project is designed as a DAO (decentralized autonomous organization) and is therefore essentially controlled by algorithms. Yet here too there is a need for human decision-making. With the ENS token, the owners can first vote on a constitution for the platform as well as on certain protocol parameters and the use of funds from the community treasury.

Ethereum Name Service Token celebrates its market premiere

Everyone who has a wallet that is linked to an ENS domain is entitled to the governance token. The ENS can be requested until May 4, 2022. The exact amount of tokens depends on factors such as the period of use. Overall, the team behind Ethereum Name Service made a quarter of the total amount of tokens available to domain owners.

Shortly after the launch, the token sparked a great deal of interest in the market. While the trading volume for the past 24 hours was around $ 490,000, its fully diluted market cap was a whopping $ 2.4 trillion. This key figure indicates the market capitalization that would apply if the current price were applied to the theoretically maximum available amount of ENS tokens.

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