The Ethereum Name Service (ENS), is an Ethereum-established, open-source protocol for domain names. It revealed on Monday that it will devolve its governance process using delegates and a committed commemorative.
The $ENS coins announced in a blog post, with the complete team behind the usual practice writing:
We believe that both ENS and the DAO space have developed 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.
The team went on to write:
It wants the ENS root multiset to hand up management of the existing ENS treasury, future funds, and the ETH registry contract that manages the price and registration of ETH names. The ENS and DAO will first need to explicitly request these from the ENS root multiset key holders. Starting today, anyone can become an ENS governance delegate.”
Information about the exact process for distribution or how many $ENS tokens will obtain is not yet clear. “The $ENS tokens will be available for reserving a week from today, followed by more details stated by the team.
The blog post noted that the delegate-focused model is “a good place to start” and suggested that this model could develop or change over time. The post also includes a link for community members to nominate themselves as delegates.
The team expressed that they are open to accepting the following:
We need individuals and groups who dedicates to the growth and longevity of ENS. If you have an interest in taking an active role in ENS governance, now’s your chance.