Users of The Ethereum Name Service (ENS) we're rewarded upwards of five-figures in the form of an airdrop with their new decentralized autonomous organization (DAO) token, ENS. For those who don't know, Ethereum Name Service functions as a domain name system (DNS) for Web3 through the use of non-fungible tokens. Similar to how we interact with a website through a URL instead of an IP address, ENS allows users to receive and send Ethereum-based assets through a human-readable name, such as wealthwithcrypto.eth instead of the cryptic and hard-to-type crypto address.
ENS users received at least CAD$20k as the ENS token reached a high of $104.20 just 3 days after the airdrop.
ENS qualified users can claim the new governance token, which gives holders the right to vote on certain policies regarding the Ethereum Name Service. The qualified users are calculated based on a snapshot of owners before Oct 31st and other factors such as how long the address held the domain and the length of the domain registration
At the lower-end, users received an average of 200 ENS tokens with the higher tier receiving up to 1000. With the high of $104.2, that means domain holders received an instant pay-day of CAD$20k-$104k!
The release of the DAO token to the community is a positive step in decentralization. Besides allowing Ethereum Naming Service to continue funding it's operations, the token allows the community, the ENS users, to participate and vote on certain aspects of how the ENS protocol will function.
It is great to see early-adopters being rewarded, and it is not the first time either: Uniswap last September airdropped 400UNI tokens to users of its decentralized exchange. Continue to support the projects you believe in, as this certainly won't be the last time either as we see crypto adoption beginning to take off.
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