ENS Multi-Sig Contract Unlocks $7.89 Million Worth of ENS

IconCryptoNewsTerminal Staff02 Jul, 2024

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ENS Multi-Sig Contract Unlocks $7.89 Million Worth of ENS

According to blockchain analytics platform Arkham Intelligence (ARKM), nearly 248,000 ENS, valued at $7.89 million, were unlocked from an Ethereum Name Service (ENS) multi-sig contract about an hour ago. The multi-sig contract is currently holding 4,377,000 ENS, valued at $139 million. The move comes as the ENS community is set to vote on a proposal to change the ENS token distribution parameters to attract new users and increase decentralization. The proposal, which was put forward by the ENS team, would see the percentage of ENS tokens distributed to users who register new ENS names increase from 25% to 50%. The change would also see the percentage of ENS tokens distributed to the ENS DAO decrease from 25% to 12.5%. The vote on the proposal is set to take place on July 15th, 2023. If the proposal is passed, the changes would go into effect in August 2023.

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