What is ENS token?

The ENS TOKEN is an ERC-20 token standard used for token delegation for its DAO and the governance of the ENS protocol’s key components like .eth pricing, the price oracle, etc. Early adopters of the Ethereum name service protocol could claim their ENS tokens through the official website.

What happens if I don't claim the tokens?

If you don't claim the tokens by May 4th, 2022, you will potentially lose access to the airdrop. According to the ENS website, tokens not claimed by this date will be sent back to the ENS DAO treasury. If you don't claim, you will not have any taxable event because you never gained dominion & control over the asset.

When can I claim $ENS?

ENS protocol allows you to claim $ENS until May 4th, 2022. There are couple of actions you can take to reduce and defer taxes on the $ENS airdrop. First, you can wait until the prices go down before claiming the token, if you think that they will. Going with the example above, assume you claim $ENS in December 2021 when the price is $20 per coin.

What is the en claim process?

In the claim process, you will be encouraged to delegate your voting power to one of the delegates that have nominated themselves to help with ENS governance. If you don’t plan on being an active governance participant, this is a great way to ensure the protocol continues to grow and develop in the right direction.