ENS launches $ENS governance token with airdrop to .eth holders

On November 8, 2021, the Ethereum Name Service opened claims for its $ENS governance token, distributing 25% of supply to the 137,000+ addresses that had registered a .eth name before an October 31 snapshot. Claimants were required to vote on a constitution and delegate their voting power before claiming, handing control to a newly formed DAO. The token's market cap promptly soared past $500 million, and the exercise became a widely cited template for retroactive community ownership.