The Ethereum Name Service (ENS) is nearing the launch of the ENSv2 update. Project founder Nick Johnson has submitted a proposal to activate the new naming system on the Ethereum mainnet through a DAO vote.
During the transition, new .eth registrations will be paused – this will take several hours, during which names cannot be registered in either the old or new system. Existing domain owners will retain their names and can renew them without mandatory migration. According to Johnson, if an .eth owner does nothing, the name continues to function.
The activation will occur in five stages: deployment of smart contracts, reservation of existing names, stopping the old registrar, synchronizing records, enabling the new registrar, and updating the Universal Resolver. ENSv2 contracts are already deployed on the mainnet, but the new registrar is not yet authorized to process applications.
After activation, ENS Labs will transfer the remaining administrative powers over the updated contracts to the DAO.
ENSv2 replaces the flat registry structure with a system of linked registries. Domain owners gain more control: they can choose their own registry and resolver implementations, and assign permissions through roles. For example, one user can be given the right to update a subdomain's resolver without the right to transfer ownership.
Expiration rules are also changing: in ENSv1, there is a 90-day grace period, while in ENSv2 it is reduced to 28 days. To keep the term the same, expiration dates for migrated domains will be extended by 62 days. Names whose grace period expired before migration will not be reserved – they can be registered anew.
The proposal is currently in draft form. Formal on-chain DAO voting is required for activation: a quorum of 1% of the voting ENS supply (1 million votes), majority approval, and a seven-day voting period. After adoption, a two-day time lock is in effect.
The executable project includes 15 smart contract calls executed in a single transaction. If issues arise before ENSv2 activation, the lock on the old registrar can be canceled with a new DAO proposal. However, individual user migrations cannot be reversed.
The voting date and exact activation date on the mainnet have not been announced.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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