Ethereum Title Service (ENS) has achieved decentralized governance, in line with a message from the mission’s creator on Dec. 14.
ENS is a naming system for the Ethereum blockchain that provides human-readable names to varied assets, together with crypto wallets and web sites. Till now, the mission’s root node was managed by members of the Ethereum group.
Nick Johnson, ENS founder, endorsed the change in possession. He wrote on X:
“[This is] actually the tip of an period. Right here’s the message I simply despatched to the ENS root keyholders, requesting the switch of the final of their powers to the DAO.”
Johnson’s connected e-mail acknowledged that the Decentralized Autonomous Group (DAO) of ENS, which is a governance group fashioned and managed by ENS token holders, voted unanimously to amass management of the mission’s root node.
He stated that, in response to these voting outcomes, he created a transaction to execute two actions that switch root management to the DAO deal with (pockets.ensdao.eth). He wrote that this transaction transfers all remaining multisig obligations to the DAO, thereby “retiring the multisig completely.” It’s unclear whether or not the opposite multisig house owners have accredited the transaction.
People who beforehand managed ENS’ multisig embody Chainlink’s Sergey Nazarov, Metamask’s Dan Finlay, MyCrypto’s Taylor Monahan, Colony’s Aron Fischer, the Ethereum Basis’s Jason Carver and Martin Swende, and Johnson himself. Johnson addressed these people in his message, writing: “Thanks a lot … on your service to ENS through the years.”
ENS governance will probably be extra open
ENS’ DAO is a governance group comprising token holders that vote on choices and points associated to the mission by staking tokens.
Based on the most recent proposal, the DAO already has a number of possession obligations however didn’t have management over the core ENS root identify till now.
The DAO will acquire particular capabilities by controlling the ENS root. The possession change will enable the DAO to create, handle, and completely lock top-level domains aside from the everlasting and unchangeable .eth area. It would additionally enable the DAO to replace reverse resolutions that map addresses again to a reputation. The DAO might also introduce major domains on layer-2 networks.
A snapshot signifies that voting concluded on Dec. 15, 2023. Just about 100% of the staked tokens, or 1.9 million ENS, had been staked in favor of DAO possession. Johnson was one of many largest voters, staking 155,000 ENS in favor. Lower than 17 ENS tokens had been staked in opposition to the plan or had been used to abstain.
