Ethereum Name Service (ENS): how it works, supply and reviews

In short

Type: Naming protocol: maps names like alice.eth to crypto addresses, content hashes and metadata
Issuance: The DAO, as token owner, may mint new $ENS at up to 2% per year, at most once every 365 days
Risks and caveats: Names are leased, not bought: an expired name is released after the grace period (28 days in ENSv2, 90 days in ENSv1).
Checked: 31 October 2026

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Key facts

Ticker: ENS
Official site: ens.domains

Key facts checked on 31 October 2026 against official sources.

What is Ethereum Name Service

The Ethereum Name Service (ENS) is an open naming system on Ethereum that maps human-readable names such as alice.eth to addresses, content hashes and other records. It is governed by the ENS DAO through the $ENS governance token.

Network and consensus

Network and consensus — Ethereum Name Service
Parameter	Details
Type	Naming protocol: maps names like alice.eth to crypto addresses, content hashes and metadata
Runs on	Ethereum mainnet smart contracts; names are issued as tokens and ownership is secured by Ethereum
DNS integration	Existing DNS domains (.com, .xyz and others) can be imported using DNSSEC
Scale	Over 35 million registered names
ENSv2	New contract suite with per-name hierarchical registries and role-based permissions replacing Name Wrapper fuses
Fees	ENSv2 .eth registration: $8 per year for 5+ characters, $160 for 4 characters, $640 for 3 characters (as of 31 October 2026)

Supply and issuance

Supply and issuance — Ethereum Name Service
Parameter	Details
Issuance	The DAO, as token owner, may mint new $ENS at up to 2% per year, at most once every 365 days
Initial distribution	$ENS was airdropped to holders of an ENS name on 31 October 2021; no further airdrop is planned

What ENS is used for

Governance: $ENS is the only official governance token of the ENS DAO, used to vote on and delegate for DAO proposals
The DAO controls protocol settings such as .eth registrar controllers and the treasury funded by registration fees

Who develops and governs Ethereum Name Service

Developer: ENS Labs, a non-profit founded in 2018, leads core software development
Legal entity: ENS Foundation: a Cayman Islands foundation company limited by guarantee, incorporated 26 October 2021
Foundation directors: Nick Johnson, Kevin Gaspar and Alex Van de Sande; the DAO can appoint or remove directors
Governance: ENS DAO with a binding constitution; it may not take away names from owners or discriminate against them
Open source: Contracts are published on GitHub: ensdomains/ens-contracts (ENSv1) and ensdomains/contracts-v2 (ENSv2)

History

History — Ethereum Name Service
Date	Event
2018	ENS Labs, the core development organisation, is founded.
26 October 2021	The ENS Foundation is incorporated in the Cayman Islands as the DAO's legal entity.
31 October 2021	Snapshot date for the $ENS airdrop to ENS name holders.
—	ENSv2 contracts are deployed on Ethereum mainnet and the rollout of ENSv2 begins.

Security and audits

The .eth registrar contracts (ENSv1) were audited by ConsenSys Diligence in February 2019.
A bug bounty for ENS smart contracts and ENS Labs assets is run on Immunefi.
ENSv2 replaces fuses with role-based permissions and uses token IDs that change on security-relevant events to block stale permissions.

Security incidents

Incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so none is listed here.

Official ENS contracts

Official ENS contracts
Network	Contract address
Ethereum	0xC18360217D8F7Ab5e7c516566761Ea12Ce7F9D72

$ENS is an ERC-20 token on Ethereum at token.ensdao.eth; the docs say this is the only official ENS governance token.

Risks and caveats

Names are leased, not bought: an expired name is released after the grace period (28 days in ENSv2, 90 days in ENSv1).
Loss of the owner's private key means loss of control over the name.
Tokens sent to the null address or a mistyped address cannot be recovered.
Fake airdrop notices circulate; ENS says there are no plans for another airdrop.

Official links

Questions and answers

What is the Ethereum Name Service?

ENS is an open naming system on Ethereum that maps names like alice.eth to crypto addresses, content hashes and other records; over 35 million names are registered.

What is the ENS token used for?

$ENS is the governance token of the ENS DAO, which governs the ENS protocol and treasury. It was airdropped to ENS name holders on 31 October 2021.

How much does an ENS name cost?

Under ENSv2 pricing, a .eth name with 5+ characters costs $8 per year, 4 characters $160 and 3 characters $640, with multi-year discounts.

Who develops ENS?

ENS Labs, a non-profit founded in 2018, leads development; the ENS Foundation in the Cayman Islands is the DAO's legal entity.

What happens if I do not renew my ENS name?

After expiry there is a grace period (28 days in ENSv2) during which the name can be renewed; after that it is released for others to register.

Sources

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Page updated: 2026-10-31