In November 2021, the Ethereum Name Service airdropped ENS tokens to domain name holders. There is still time to claim them before the deadline approaches.
If you own or have ever owned an Ethereum-based domain name, you could be due some ENS tokens. The Ethereum Name Service airdropped such tokens to domain holders in early November 2021.
Anyone with an Ethereum domain name before November received the airdrop. Furthermore, those that previously held a “dot eth” name but had let it expire were also eligible.
The deadline for claiming the ENS airdrop is May 4, 2022. The long deadline was made so that recipients could avoid a gas price spike in the rush to claim the tokens.
$ENS has launched!
Eligible users can claim their $ENS governance tokens at: https://t.co/ZGGfGLhdhS
No rush: You have until *May 4, 2022* to claim your tokens. Claiming costs gas, so feel free to wait for favorable gas prices.https://t.co/TuheiI0w9i
Blog or 🧵 for more👇
1/— ens.eth (@ensdomains) November 9, 2021
How to Claim the Airdrop Tokens
Claiming ENS tokens is an easy process. Eligible recipients need to navigate to claim.ens.domains and connect their Ethereum wallet, such as MetaMask.
The next step is to click “get started” which will display a screen showing how many ENS tokens can be claimed based on historical activity. Furthermore, the average at the time was around 200 tokens, making it one of the largest crypto airdrops ever.
Clicking through brings up some screens explaining what ENS is and how the tokens can be used for DAO governance. The next step is selecting to delegate voting power to one of the delegates that have nominated themselves to help with ENS governance. Approving when prompted leads to the next screen which allows the submitting of votes, then another to select a delegate. Any delegate can be chosen, or you can create a custom delegate.
Finally, the claim screen comes up and you can claim the tokens. This will incur a network transfer fee, which can be high if gas prices are elevated. Once the “claim successful” screen appears, users will need to wait a few minutes until the tokens appear in MetaMask.
feb 2022 ENS stats:
– 67k new .eth registrations (total 739k names)
– ~$4m in protocol revenue (all goes to the DAO)
– 28k new eth accounts w/ at least 1 ENS name (total 319k)
– 21 new integrations, total at 500
– >99% of OpenSea vol for domains pic.twitter.com/ZD4nmuw7K5— ens.eth (@ensdomains) March 2, 2022
ENS Price Outlook
ENS tokens were trading flat on the day at the time of writing. As a result, they were changing hands for around $15.26, according to CoinGecko. ENS has currently lost 81.6% since its all-time high in November when many of them were instantly liquidated to markets.
Like most large airdrops, token prices have dumped heavily since they were launched on markets. However, there is a low number of them circulating (around 23 million) and there are real-world applications for decentralized domain names in Web3. Therefore, ENS prices are likely to increase in the future given this narrative.
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