[Crypto projects](https://revain.org/projects/) › Ethereum Name Service

# 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

## Key facts

- **Ticker**: ENS
- **Official site**: [ens.domains](https://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

| 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

| 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

| 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

| Network | Contract address |
|---|---|
| Ethereum | [0xC18360217D8F7Ab5e7c516566761Ea12Ce7F9D72](https://etherscan.io/token/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

- Website: [ens.domains](https://ens.domains/)
- Docs: [docs.ens.domains](https://docs.ens.domains/)
- App: [app.ens.domains](https://app.ens.domains/)
- Source code: [github.com/ensdomains](https://github.com/ensdomains)
- Explorer: [explorer.ens.domains](https://explorer.ens.domains)
- Governance forum: [discuss.ens.domains](https://discuss.ens.domains)
- DAO: [ensdao.org](https://ensdao.org)

## 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

- [ENS — Home](https://ens.domains/)
- [ENS — About ENS Labs](https://ens.domains/about)
- [ENS — ENSv2](https://ens.domains/ensv2)
- [ENS Docs — What is the Ethereum Name Service?](https://docs.ens.domains/learn/protocol)
- [ENS Docs — Deployments](https://docs.ens.domains/learn/deployments)
- [ENS Docs — ENSv2 overview](https://docs.ens.domains/ensv2/overview)
- [ENS Docs — FAQ](https://docs.ens.domains/faq)
- [ENS Docs — DAO](https://docs.ens.domains/dao)
- [ENS Docs — Token and airdrop](https://docs.ens.domains/dao/token)
- [ENS Docs — ENS Foundation](https://docs.ens.domains/dao/foundation)
- [ENS Docs — Constitution](https://docs.ens.domains/dao/constitution)
- [ENS Docs — Bug bounty](https://docs.ens.domains/bugs)
- [ENS GitHub — ens-contracts README](https://github.com/ensdomains/ens-contracts)
- [ENS GitHub — ENSToken.sol](https://github.com/ensdomains/governance/blob/master/contracts/ENSToken.sol)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/ens/