Approval of $300K Settlement Between ENS and Manifold Finance Regarding “eth.link” Domain

In a positive turn of events, the Ethereum Name Service (ENS) has emerged victorious in its 18-month legal battle against Manifold Finance. The recent settlement, approved by an overwhelming 88% of ENS DAO members, brings an end to the highly-watched dispute within the crypto community.

The settlement ensures that ENS retains ownership of the valuable eth.link domain. In a strategic move, ENS has decided to drop the lawsuit against Manifold Finance. Additionally, 84% of voters have approved a $750,000 refund to cover ENS’s legal expenses, providing much-needed financial relief.

The dispute began in September 2022 when the eth.link domain expired and was acquired by Manifold Finance through a Dynadot auction. ENS Labs took legal action against Manifold Finance, GoDaddy, and Dynadot, resulting in a court order that prevented the domain from being transferred outside of ENS Labs’ ownership.

ENS operates on the blockchain, similar to traditional DNS systems, allowing for seamless integration of domain names and IP addresses. The eth.link domain plays a vital role in the .eth ENS domain, bridging the gap between blockchain-based naming systems and the traditional web infrastructure.

This settlement highlights the importance of clearly defined ownership rights in decentralized systems.