Author | Qin Xiaofeng

Editor | Hao Fangzhou

Produced | Odaily

Author | Qin Xiaofenghttps://t.co/20UrtYY3rTEditor | Hao Fangzhou

Produced | Odaily

At 8 a.m. Beijing time today, Ethereum Domain Name Service (ENS) released its governance token ENS and opened airdrop claims. The airdrop collection address is:

;The ENS smart contract address is: 0xc18360217d8f7ab5e7c516566761ea12ce7f9d72.

After the application was opened, the Ethereum network was congested again, and the gas fee soared. Among them, the "Extreme Confirmation" fee was once close to US$400, and the average claim fee was 0.028 ETH, which is about US$135.

In addition, the number of ETH destroyed by receiving ENS token handling fees has also increased rapidly. Ultrasound.money data shows that half an hour after claiming, the amount of ETH destroyed reached 120; the current total amount of destroyed is 860 ETH, ranking third in the daily destruction list.

Long before ENS was officially claimed, OKEx, MEXC and other platforms announced the listing of ENS tokens. Today, the price of ENS on OKEx rose to 39 USDT, and that of MEXC reached 33 USDT. The current average price remains at around 32 USDT. Based on the calculation of 30% of the initial circulation (25% airdrop + 5% contributor unlock), the current market value of ENS is 960 million US dollars, which is close to the market value of dYdX (1.07 billion US dollars).

This valuation also far exceeded investor expectations. Previously, many people compared the token model of ENS to Gitcoin (GTC). The total circulation of both is 100 million, and the current market value of GTC is about 130 million US dollars. "The valuation of ENS is too exaggerated. I originally thought it would be benchmarked against Gitcoin, but I didn't expect to kill Gitcoin in seconds."

Although the price of ENS has soared, due to strict rules, this airdrop did not bring "huge" benefits to the wool party.

According to the airdrop rules, the weight of the airdrop is mainly calculated by the account rather than the domain name. The formula is 0.27 multiplied by the number of days holding at least one ENS domain name, plus 0.067 multiplied by the number of days before the domain name expires. If the account additionally sets reverse resolution , the above result will be multiplied by 2. Such rules also indicate that the original intention of ENS airdrops is to vote to real users of domain names as much as possible, rather than speculators who speculate on domain names.