Ethereum Name Service now fully decentralized as DAO takes control

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 numerous sources, 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 hooked up electronic mail said that the Decentralized Autonomous Group (DAO) of ENS, which is a governance group fashioned and managed by ENS token holders, voted unanimously to accumulate management of the mission’s root node.

He mentioned that, in response to these voting outcomes, he created a transaction to execute two actions that switch root management to the DAO handle (pockets.ensdao.eth). He wrote that this transaction transfers all remaining multisig duties to the DAO, thereby “retiring the multisig completely.” It’s unclear whether or not the opposite multisig homeowners 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 … in your service to ENS through the years.”

ENS governance can 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.

In line with the newest proposal, the DAO already has a number of possession duties however didn’t have management over the core ENS root title till now.

The DAO will achieve particular capabilities by controlling the ENS root. The possession change will permit the DAO to create, handle, and completely lock top-level domains aside from the everlasting and unchangeable .eth area. It’ll additionally permit the DAO to replace reverse resolutions that map addresses again to a reputation. The DAO may introduce major domains on layer-2 networks.

A snapshot signifies that voting concluded on Dec. 15, 2023. Nearly 100% of the staked tokens, or 1.9 million ENS, have 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 have been staked in opposition to the plan or have been used to abstain.