Ethereum Name Service (ENS) Exchange
Looking to exchange ENS? Swapzone compares live offers from partner exchanges by rate, speed and KYC label. No account, no custody, 0% platform fee. ENS is an ERC-20 token on Ethereum, the governance token of the Ethereum Name Service.
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What is ENS?
About Ethereum Name Service
ENS is the governance token of the Ethereum Name Service, the decentralized naming protocol that replaces unreadable hexadecimal wallet addresses (like 0x742d35Cc6634C0532925a3b844Bc9e...) with human-readable names like “alice.eth.” Launched in 2017 and co-founded by Nick Johnson, ENS operates through a set of smart contracts on Ethereum that handle three core functions: the Registry (tracks domain ownership and subdomains), the Resolver (translates .eth names into wallet addresses, IPFS content hashes, multi-chain addresses, text records, and avatars), and the Registrar (manages .eth domain registration and annual renewals). ENS is a widely used decentralized naming system in Web3, with millions of registered .eth domains and integration across wallets (MetaMask, Rainbow, Coinbase Wallet), dApps, and DeFi protocols. The protocol supports cross-chain address resolution (mapping a single .eth name to BTC, SOL, and other chain addresses simultaneously) and DNS name integration, allowing traditional domain names to be used on-chain. Registration fees for .eth names are paid in ETH and flow directly into the ENS DAO treasury, creating a self-sustaining funding model for protocol development without reliance on token emissions or external grants.
ENS tokenomics
ENS has a fixed total supply of 100 million tokens with no inflationary minting. The vesting schedules have completed, so no further vesting events add supply. CoinGecko lists about 42.3 million ENS in circulation as of November 2026, according to CoinGecko, with much of the rest held in the DAO Community Treasury.
Total supply — 100,000,000 ENS (100 million, fixed)
Circulating supply — approximately 42.3 million ENS (about 42% of total) as of November 2026, according to CoinGecko
Market capitalization — approximately $207 million as of November 2026, according to CoinGecko, with a fully diluted valuation of about $488 million
Allocation — 50% DAO Community Treasury (governed by ENS token holders), 25% airdrop to .eth domain registrants (distributed November 2021 based on registration history), 25% contributors (core contributors 18.96%, select integrations 2.5%, future contributors 1.25%, and smaller allocations for advisors, keyholders, and translators)
Governance — ENS holders vote on protocol upgrades, treasury spending, domain pricing changes, grant allocations, and ecosystem development through delegated governance where token holders entrust voting power to community delegates
Revenue model — .eth domain registration and renewal fees (paid in ETH) flow to the DAO treasury; the protocol generates recurring revenue without token emissions
ENSv2 (upcoming) — major upgrade; in February 2026 ENS Labs dropped the planned Namechain Layer 2 and said ENSv2 would deploy directly on Ethereum mainnet
What determines ENS's value
ENS's value is tied to the adoption of .eth names as the default identity layer for Web3. Every new .eth registration generates ETH revenue for the DAO treasury that ENS token holders govern. As Web3 wallets, dApps, and DeFi protocols increasingly display .eth names as the default user identity, the total registered domain count and renewal rate drive treasury revenue growth.
ENSv2 is the main upcoming catalyst. ENS Labs dropped the planned Namechain Layer 2 in February 2026 and moved ENSv2 to Ethereum mainnet, pointing to lower base-layer costs, and its Q1 2026 report describes ENSv2 as moving toward launch. Lower registration costs could widen the audience from crypto-native early adopters to mainstream users, which would lift the registered domain count and treasury revenue. The fixed 100 million supply with no inflation means ENS's price is a function of demand against a known supply.
How to Exchange Ethereum Name Service on Swapzone
How to Choose an Ethereum Name Service Exchange
Ethereum Name Service (ENS) Price Analysis
Frequently Asked Questions About Ethereum Name Service (ENS)
The Ethereum Name Service replaces long hexadecimal wallet addresses with readable names such as alice.eth. It resolves names to wallet addresses, other-chain addresses, IPFS content hashes, text records, and avatars.
Three core contracts handle it: the Registry tracks ownership, the Resolver translates names, and the Registrar manages .eth registration and annual renewals.
ENS is a governance token. Holders, directly or through delegates, vote on protocol upgrades, treasury spending, domain pricing, and grants.
Fees for .eth names are paid in ETH and flow to the ENS DAO treasury, so the protocol earns revenue without token emissions.
The total supply is a fixed 100 million ENS. About 42.3 million ENS were in circulation as of November 2026, according to CoinGecko.
50% to the DAO Community Treasury, 25% as an airdrop to .eth registrants in November 2021, and 25% to contributors.
A major upgrade. In February 2026 ENS Labs dropped the planned Namechain Layer 2 and said ENSv2 would deploy directly on Ethereum mainnet.
No. The vesting schedules have completed, so no further vesting events add supply.
Open swapzone.io/exchange/ethereum-name-service, enter the amount, and compare offers from partner exchanges by rate, time, and KYC label. Paste your Ethereum address, send ENS to the deposit address, and track the order.
No. An .eth domain is an NFT-based name you register. The ENS token is a separate governance token.
Demand depends on .eth adoption and the success of ENSv2, and the token is a governance token with no direct revenue claim. The price is a function of demand against a known supply.
Why Exchange Ethereum Name Service with Swapzone?
24/7 live chat support at every stage of your ENS swap.
Non-custodial aggregator: you send ENS to the partner's deposit address and receive funds in your own wallet, never through Swapzone.
Live None offers from exchange partners side by side.
Swap ENS with 1,600+ cryptocurrencies.
Reviews from TrustPilot
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