ENS’ director of operations says that DAO-based governance ‘has always been the plan’

Read the full article by Ornella Hernandez here

Brantly Millegan, AKA “Brantly.eth,” discussed the rise of DAO governance, ENS’ new constitution and community voting rights following the protocol’s major ENS token airdrop.

“ENS is an open public protocol. The core components of ENS are decentralized and self-running (e.g., no one can take away another person’s .ETH name), but there are a few things that require some human discretion.”

WHen users claim ENS tokens allocated in the airdrop, the protocol requires you to vote to ratify the proposed ENS constitution and to authorize the DAO to take over the functions of the multisig.

“The ENS DAO will [be] one-token-one-vote, but we’ve chosen distribution rules that favor egalitarianism and users over speculators.”

DAOs are going to change the way we organize as groups, allowing users to vote on key decisions practically seamlessly. Some say the $ENS airdrop was a gift of “free money” but some would argue that they airdropped responsibility to it’s users.

He explained that the nonprofit allocated tokens based on how many days an individual has held even a single ENS name, rather than by the number of domains an individual has registered.

Users who paid renewal fees up to eight years into the future are scheduled to receive an additional cache of tokens in the airdrop, and for folks who have their primary ENS name set, the number of tokens they are otherwise entitled to is multiplied by two. Participants on the protocol’s Discord and Twitter are eligible for additional claims as well.

Within 24 hours of its launch, the new ENS governance token had already reached a fully diluted valuation of $3.16 billion. One day later, at the time of publication, this number has topped $8 billion and continues to rise.