Coinbase Votes in Favor of Another Ethereum Name Service Airdrop
Crypto exchange Coinbase has voted in favor of another retroactive airdrop of Ethereum Name Service (ENS) tokens to even more users.
Key Points:
The U.S. crypto exchange, Coinbase has submitted it’s first ENS protocol vote. Coinbase was elected to be a DAO(Decentralized Autonomous Organization) delegate for the Ethereum Naming Service protocol.
When there are different proposals for a DAO put forth by the community, the delegates are the ones who are given governance tokens to represent others in the best interest of the individual delegating the tokens. Instead of individual ENS holders voting one by one on different issues, larger entities or sector experts can pool votes.
The ENS airdrop took place on November 8th, to users with an officially registered ENS name set, or one which ended with the suffix “.eth.”
Many users did, however, miss out on the “2x token multiplier” due to the design of the airdrop. The new proposal seeks to correct this by opening the criteria to any account that “owned a name that was used as the primary ENS name for an account,” the proposal reads.
When asked if this was indeed the first vote, Jesse Pollak, the firm’s senior director of engineering focused on DAOs, said, “I think so? Thanks for bearing with us as we get the wheels turning.”
What is the Ethereum Name Service?
The Ethereum NameService is an Ethereum-based service that offers a secure and decentralized way to identify crypto addresses using human-readable names. It’s very similar to the internet’s DNS system in that it helps users find information via names instead of a string of letters and numbers which may can be challenging for a human to read at first glance.
“In the last year or two, we’ve seen an explosion in innovation and experimentation with DAOs,” ENS Director of Operations Brantly Millegan previously told Decrypt.
“ENS isn’t a DAO-experiment project, it’s a naming project, and we thought that DAOs had matured enough that we could trust one with key parameters of the ENS protocol,” he added.
ENS token chart