Ethereum Name Service (ENS) airdrop will be released in a couple of hours at around 7 PM (US Eastern Time) on Nov 08. The token ticker will be ENS (no surprises there) and the contract has been announced as 0xC18360217D8F7Ab5e7c516566761Ea12Ce7F9D72 (don’t attempt to trade anything else!). Continue reading more to learn how to check eligibility and how to claim the token, once it launches in a short few hours.
Announced on Nov 02, it’s a significant event because a critical part of Web3 infrastructure, the domain system of the decentralized web, Ethereum built “Sign in with Ethereum” alternate login pioneer is releasing a token and transitioning into a DAO, allowing the users who held the .eth names at Oct 30 (date of the snapshot) to receive ENS tokens and decide on the future of the protocol!
There’s another reason to celebrate, Ethereum Name Service (ENS) team has been very careful and has taken extensive measures to ensure that the airdrop isn’t gamed. This coupled with a VC-free atmosphere and no unfair low-cost selling to any party guarantees that the protocol will continue to truly remain a pillar of the decentralized Web. Plus, the team allocations have a large vesting period, the community is receiving 25% of all tokens being airdropped and 50% is being reserved for community treasury. ENS value is likely to hit the ground running, upon its release.
You will have 6 months to claim the tokens before they are resent to the treasury, so there’s no need to hurry. Every account will receive it (regardless of the number of .eth domains contained) so squatters won’t have much luck out there. You will receive the same allocation for one Ethereum wallet address if it contains one or a couple of .eth domains. The calculation for the airdrop will be based upon the following formula:
How To Check Eligibility And Airdrop Tokens
Now, that we have established that Ethereum Name Service (ENS) airdrop is a big deal. What can you do to check, if you qualified for it? How many tokens would you receive? Fortunately, there’s a simple tool. Click here. Simply put your Ethereum address and it will display the number of tokens that you are eligible to receive or not.
How To Claim Ethereum Name Service (ENS) Airdrop
What follows in this section has been taken from this Youtube video from ENS’s official channel. Special thanks to alisha.eth for making this very informative video. For reasons of brevity, only the important steps are displayed in our picture-based claim tutorial. For an in-depth look, you can always watch the complete video.
Once the token has been airdropped, you would be able to claim it from here. It’s not live, at the time of this publication. Once you access the page, you have to connect the wallet, which is eligible for the claim. Click “Connect to Wallet” and choose from MetaMask, Portis, Coinbase, Torus, WalletConnect, and MEW wallet. Then, click Get Started, once the wallet has been loaded on the interface.
The interface will now display the tokens available for the claim, as well as the calculation as mentioned in the earlier formula. Click “Start your claim process” to proceed further.
Ethereum Name Service (ENS) has designed the website meticulously, it will now start displaying the token information, purpose, use, and distribution criteria. Click Next after reading.
But that’s not it. Since ENS wants to instill a sense of responsibility and pride in holding these tokens. The interface will now start displaying information pertinent to ENS draft constitutions including do’s and don’ts. Click Start after reading and continue clicking Approve at each constitution article being displayed in detail. Once you read and approve all, you will be presented with a Sign button.
The interface will now ask you to gaslessly sign the constitution that you just read, authorize the free tx through the MetaMask interface (or other wallet equivalents).
Now, you must delegate your token-based votes to a member, who will exercise voting power on your behalf. You can choose from the list or enter their ENS or Ethereum wallet direct address.
This brings us to the last step, you can now review your claim, see your delegate, and click Claim. This will open up a new window to authorize transactions via MetaMask by paying gas and claiming your tokens! Congratulations on receiving your valuable ENS tokens!
About Ethereum Name Service (ENS)
Ethereum wallet addresses are complex and human unreadable. This makes it difficult for users to work with them. For instance, if you send funds to an Ethereum wallet, the long random address needs to be typed incorrectly and checked multiple times to establish that it’s the right one. It’s easier to make mistakes there. Enter Ethereum Name Service.
Ethereum Name Service or ENS fixes that problem by using smart contracts, linking the complex human unreadable Ethereum addresses to a simple .eth (amongst other variants) domain. For instance, you can bind the address 0xb4b3351918a9bedc7d386c6a685c42e69920b34d to something.eth. Now, it’s easy to interact and work with.
You don’t have to copy/paste long addresses and hope that everything goes right. Just purchase a simple domain with low fees to start receiving cryptocurrency, assets, and NFTs. The ENS domains themselves are ERC-721 compliant NFTs, which can be traded too. You can read how to acquire an ENS name here.
ENS domains already are integrated with a large part of the crypto-ecosystem and growing day by day. Currently, it has compatibility with Coinbase, Rainbow, Trust Wallet, MyCrypto, MetaMask, Huobi, etc. The DApps supporting the domains are Uniswap, Etherscan, Tornado Cash, The Graph, Aavegotchi.
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