Dear Bankless Nation,

The Ethereum Name Service (ENS) announced its intentions to further decentralize with the $ENS token last week. Yesterday, they finally released it to the public.

Anyone that held an ENS domain by November 1st is eligible for this airdrop.

Congratulations to all those on the web3 frontier—you’ve been rewarded again.

Here’s what you need to know about the ENS airdrop. 🚀

- RSA

P.S. Did you miss this one? ENS was #16 on our Ultimate Guide to Airdrops we published a couple weeks ago! I’d check the other 24 so you don’t miss another.

ALPHA ALERT: Claim your $ENS airdrop

Claim your $ENS Token Airdrop

• Alpha: Claim your ENS airdrop
• Asset: ENS
• Eligibility: Held an ENS domain name
• Distribution: 25% of the total supply
• Details: Claim your ENS airdrop, A Call for Delegates, ENS Token Allocation
• ROI: Depends!

ENS is taking a major step forward in its decentralization. Ethereum’s most popular domain service is launching a native governance token, ENS, to everyone that has ever held one of its domain names.

What’s unique about ENS is that they have no investors. A quarter of the allocation is distributed to the contributors that built that protocol with another quarter to the users. The remaining 50% is vested into a community treasury.

Importantly, with the ENS airdrop, users will be required to sign The Constitution. This constitution clearly outlines the ENS social contract on how certain aspects of the protocol should be governed, requiring each user to accept or deny a handful of amendments.

Equally as interesting, all revenue generated by domain registrations will be directed to the ENS community treasury in addition to an existing $40M treasury of ETH and USDC from past fees. These funds will be used to help grow the domain service into a universal standard for the crypto ecosystem.

All of this culminates into one of the most interesting launches we’ve seen to date.

Here’s how to get involved.

How to get this Alpha:

😰 If gas fees are an issue, don’t worry! There’s no rush to claim tokens. You have until May 4th, 2022 to claim your ENS.

Below is a step-by-step guide on how to claim your ENS tokens. The ENS team also released a detailed video walkthrough with all the steps and nuances.

You can watch that here. Otherwise, here’s a quick written walkthrough:

1. Head over to claims.ens.domain, connect your wallet, and click “get started”.

   

2. You’ll be able to view your airdrop statistics on the next page.

   

3. Once you’ve reviewed your eligibility, you can begin your claims process. First, you’ll learn about the decentralization of ENS and the encompassing details.

   

4. Next, you’ll help shape the future of ENS by signing the ENS Constitution and a few key amendments that establish the ENS social contract. The constitution touches on how ENS name ownership, intentions of registration fees, how the treasury should be used, and more. Run through this and make sure to “Approve” or “Deny” every article! Voting is gas-free and is conducted off-chain on Snapshot so you won’t have to pay for gas fees.

   

   5. Once you’ve voted on every article, click sign and your Metamask will be prompted to sign and ratify your votes!

   6. Next you’ll be required to delegate your tokens to a governance participant to help steward the ENS protocol forward. This is important! You can view the top delegates on Tally.

      

   7. That’s it! Once you hit next, you can go ahead and claim your ENS tokens and finalize your delegation. Congratulations on helping shape the future of ENS.

Considerations

• Why did you get this alpha? Because you subscribed to Bankless and made an effort to level-up by using DeFi protocols. This is the frontier! There’s risk…but there’s also reward! Today you were rewarded…congrats.

• What if you missed this alpha? Keep leveling up on the Bankless program. Start using projects that might have future airdrops. Spend time each week learning something new. Connect with the community. You’re still early…this is a marathon not a sprint!

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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