Journalist
Posted:
- ENS DAO now manages the Ethereum Name Service.
- The number of name registrations on the protocol has decreased in the past month.
Ethereum name service [ENS] has achieved complete decentralization, with control now firmly in the hands of the token-holding community. This was recently confirmed in a message on X (formerly Twitter) by ENS founder Nick Johnson.
This move follows a proposal this was voted on unanimously, seeking to transfer ownership of the ENS root key from the multisig system to the ENS DAO.
Chainlink’s Sergey Nazarov, Metamask’s Dan Finlay, MyCrypto’s Taylor Monahan, Colony’s Aron Fischer, Jason Carver, and the Ethereum Foundation’s Martin Swende, along with Johnson and others, have all managed ENS’s multisig contract in the past.
According to the proposal, the ENS DAO will have control not only over the protocol’s root key, but also over the creation and management of top-level domains (TLDs). Although the “.eth” TLD is set and cannot be changed, the DAO can generate and monitor other TLDs.
The group of token holders has also been given the power to update and reverse resolutions. Additionally, the DAO, in collaboration with the Labs team, will explore and potentially implement primary domain names on Layer 2 solutions (L2s).
Decrease in the number of .eth name registrations since October
In October, the protocol recorded the highest monthly number of ENS name registrations since the beginning of the year. According to a Dune Analytics dashboard, the total number of .eth name registrations was 56,869 during that 31-day period.
However, this dropped in November as only 20,877 name registrations were made. This represented a decline of 63% from the year-to-date high. So far this month, ENS has registered 7,204 name registrations.
Source: Dune Analytics
While the number of name registrations soared in October, the monthly number of new addresses created on the ENS network also increased.
Information from the same data provider revealed that the protocol witnessed the creation of 49,000 new addresses in October. This also fell in November and has fallen further this month by 96%.
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Source: Dune Analytics
As for monthly revenue from new name registrations and renewals, it has declined since August.
Monthly revenue from new registrations fell by 64% between August and November. So far this month, sales have reached $349,000.
