The monetary value of ENS is a good thing

💬 General Discussion
1

GM everyone,

Is very confusing, to say the ENS token having a monetary value is a bad thing for the project, ENS DAO has P/E = 19.42 (one of the best protocols in fact from an investment perspective), having a lot of ETH in the treasury, a really low price will attract whales and businessmen to acquire a big stake in the ENS, the treasury is getting bigger and bigger by the minute (~47M$ per year), I don’t see a way where the ENS has no value that will help the ENS project, that’s like saying drop ETH and this will help Ethereum networks to be cheap for people to use, POS has a security budget and it is the ETH price that helps secure the network form 2/3 attack, the same goes to ENS token, by having a monetary value is having a security budget to protect the DAO, having a marketcap of 10T means to: influence the DAO you need to acquire the 5T, having 50M$ Marketcap is saying that only 25M$ is needed to influence the protocle in the end.

Happy to hear your thoughts

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I think it is a good thing too and that it was inevitable for ENS to have a price and it’s inevitable for that price to go up in the future (given the network growth/adoption of Ethereum plus the tremendous utility of ENS).

This fact about ENS price – it is a fact – means the token can be leveraged in creative ways now within the protocol to enhance security in a similar way to a slashing mechanism for malicious actors on Ethereum network.

Devs and delegates cannot control ENS price as easily or directly as control the price of registration of names, which is why it makes more sense to me that governance is based primarily on a 1:1 vote basis per resolved name, and secondarily based on ENS token in some way (for example staking).