FreeTheAI

Ethereum Name Service Proposes ENSv2 Upgrade Approval From DAO

NeutralMedium impact
ENSUSD$5.95 0.37%

Ethereum Name Service (COINBASE:ENSUSD) founder Nick Johnson has submitted a draft proposal seeking decentralized autonomous organization (DAO) approval to activate ENSv2 on the Ethereum mainnet. The proposed protocol upgrade would freeze new name registrations on the original registrar while allowing current domain owners to renew their existing names.

The ENSv2 upgrade brings a redesigned registry architecture that provides more flexible domain management and permissions. Following activation, ENS Labs plans to transfer its remaining administrative authority over the upgraded smart contracts directly to the DAO. Existing domain holders will not be forced to migrate, as their current .eth names will remain fully functional and are reserved for them on the upgraded platform.

To take effect, the proposal must advance to an onchain DAO vote requiring at least 1 million ENS votes, representing 1% voter participation, and a majority approval during a seven-day voting window. If passed, a minimum two-day timelock will occur before execution. During the transition, new registrations will be paused on both versions for several hours as records synchronize. An official voting date has not yet been set. ENS was trading at 5.993 USD, up 1.08% today.

Key points

  • Nick Johnson submitted a draft proposal to activate the ENSv2 upgrade on the Ethereum mainnet.
  • The upgrade introduces a redesigned registry architecture with flexible permissions and transfers remaining control to the DAO.
  • Existing .eth domain holders do not need to migrate immediately, as current names remain functional and reserved.
  • Passing the proposal requires at least 1 million ENS votes and a majority decision over a seven-day voting period.
  • New registrations will be temporarily paused for several hours during the synchronization process.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

How we writeDisclaimer

Questions and answers

What is the ENSv2 proposal?

The proposal by founder Nick Johnson seeks DAO approval to activate ENSv2 on the Ethereum mainnet, introducing a redesigned registry architecture with flexible permissions.

Will existing .eth domain holders need to migrate immediately?

No, existing domain holders are not required to migrate. Current .eth names will continue functioning normally and are reserved on the upgraded system for whenever users choose to migrate.

What voting rules apply to the ENSv2 activation proposal?

Approval requires at least 1% voter participation (1 million ENS votes) and a simple majority during a seven-day onchain voting period, followed by a minimum two-day timelock before execution.