After the Ethereum Name Service protocol distributed an airdrop for the new ENS DAO token, nonfungible tokens that double as Ethereum addresses, early adopters of cryptocurrency markets were once more rewarded.
Many holders received a five-figure instant payday as a result of the airdrop. There are also holders who registered multiple ENS addresses to multiple wallets. Some holders have a six-figure cash-in.
It was widely anticipated that there would be an airdrop for members of the ENS community. This is especially true since the tactic has become more popular throughout 2021. Currently, the token trades for $85 on a variety of cryptocurrency exchanges. ENS distributed 25,000,000 tokens to domain owners.
ENS token distribution chart. Source: ENS
The claims process for ENS tokens started at 7 p.m. Monday, Nov. 8 and qualified domain owners have until May 4, 2022 in order to claim their tokens.
The calculation used to calculate the number of tokens that each qualified user will receive is based on how long an address has held the domain, as well as the length and duration of the domain registration. There is a cutoff of 8 years.
The lowest tiers receive an average of 200 ENS tokens while the middle-level tier gets 500 ENS. Active participants earn 1,000 ENS.
The domain holder must also participate in the claiming of tokens. He or she must vote on the four articles in the ENS governance constitution that will help the new autonomous decentralized organization get off to a strong start.
Before they can access their tokens, users must delegate their voting power. Coinbase is a leader in early voting.
Votes for the top 5 ENS delegates Source: Tally
Similar: Ethereum Name Service’s latest token has an already fully diluted cap at $3.1B
ENS total claims and price action
According to CoinGecko data, ENS’s price ranged between $17.63 (Nov. 9), and $84.78 (Nov. 10), meaning that the lowest tier of airdrop is now worth approximately $17,000
1-hour chart of ENS/USD Source: CoinGecko
Dune Analytics data shows that there are 137.689 addresses eligible for the airdrop. Of these, 62.634 have completed the process and received 49.72%.
ENS airdrop statistics. Source: Dune Analytics
This ENS airdrop is one of the biggest token drops of the year, behind the dYdX Airdrop. It gave the most active users the decentralized derivatives exchange a six-figure payout as the token’s price soared after its release.
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