Early Ethereum Name Service (ENS) adopters rewarded with a hefty five-figure airdrop

After the Ethereum Name Service protocol distributed an airdrop for the new ENS decentralized autonomous organisation (DAO), token, early adopters in cryptocurrency have been rewarded once more for their bravery, exploration, and bravery.

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 an airdrop would be in the works for members ENS, particularly 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 pm Monday, Nov. 8. Qualified domain holders have until May 4, 20,22 to claim their tokens.

The number of tokens that each qualified user gets is determined by a calculation that considers how long an address has been a domain owner as well as the length and duration of the domain registration. There is a cutoff of eight 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 of 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

Chart for 1 hour 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 the second largest token drop of the year. It follows the dYdX, which gave the most active users the decentralized derivatives exchange a six-figure payout as token value soared after its release.

com. You should do your research before making any investment or trading decision.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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