Ethereum Name Service will launch a token for project management

Ethereum Name Service (ENS) domain name project developers will launch a voting token. This will help make project management more decentralized.

In an article on the ENS blog, the developers noted that the ecosystem of Ethereum and decentralized organizations has become more mature, and the project itself has developed to such an extent that it is now possible to transfer control into the hands of the community. For this, a $ ENS token will be created, the holders of which will vote on proposals for the development of the project.

“In particular, we would like to transfer control over the existing assets to ENS and its future funds. Control of the .ETH name registration contract, which sets prices and handles name registrations, will also be transferred. Already, people can apply for participation as delegates to manage the ENS, ”the developers write.

It is not yet known how many $ ENS tokens will be issued, and the distribution model has not been disclosed. However, the developers reported that the release of tokens will begin in a week. The system of delegates has been chosen as a starting point and in the future may be changed or transformed into a different management system.

“We need people who are committed to the growth and prosperity of ENS. If you would like to take an active part in the management of our ecosystem, then now is your chance! ”, Concluded the project team.

In August, American beer maker Budweiser bought the domain name Beer.eth through the Ethereum Name Service. The cost of the domain was 30 ETH, which at the exchange rate at the time of purchase was $ 94,000.