The Ethereum Proper noun Service (ENS) launched its governance token, ENS, on Monday, which will be used to further the decentralization of the popular domain service for Ethereum wallets.

The official annunciation on Mirror from Ethereum Name Service states that the ENS token volition be used to vote on a proposed constitution and govern protocol parameters. The first problems holders can vote on in the new ENS decentralized autonomous organization (DAO) are the price oracle and how to allocate existing and future customs treasury funds.

Ethereum wallet users who take created an ENS domain in the by are eligible to claim ENS tokens from the claims site until May 4, 2022. Unclaimed tokens volition be sent to the DAO treasury. An ENS domain maps like shooting fish in a barrel-to-read names that stop in .eth (similar "alice.eth") onto Ethereum addresses.

One-quarter of the unabridged ENS supply was made available to .eth domain holders to claim in total. Each wallet received a varying quantity of ENS based on how long it has held its domain, the expiry appointment, and whether it has set a Main ENS.

At the time of writing, crypto data aggregator CoinGecko estimates ENS to rank as the 313th-largest crypto asset with a market capitalization of $235 million and a whopping fully diluted valuation of $iii.16 billion.

The token has experienced extreme price volatility and nine-figure trade book, last change hands at $31.53 for a 75% daily gain equally of this writing.

SushiSwap has moved to incentivize users to provide liquidity to its WETH/ENS pool, offering SUSHI rewards to farmers.