Buyers register new domains and renew existing ones for which they pay a fee (revenue).

Ethereum Name Service (ENS) is an extensible naming system built on Ethereum with similar goals to the Domain Name System (DNS). ENS was founded by Nick Johnson and launched in 2017.

ENS token holders own and govern the protocol. They currently take the full share of all registration and renewal fees.

governance

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Infrastructure

Ethereum Name Service

# Ethereum Name Service Maximum token supply Methodology

## 1. Overview

The ENS token supply maximum metric represents the total maximum number of ENS governance tokens that can ever exist according to the protocol's tokenomics design. This is a static protocol parameter that was established at the ENS token launch and represents the hard cap on token supply. The metric answers the question: "What is the theoretical maximum supply of ENS tokens?" and provides this as a constant value across all time periods since the token launch.

## 2. Data sources

This metric is derived from:
- **Protocol specifications**: The ENS tokenomics design documents and governance proposals that established the maximum token supply
- **Smart contract parameters**: The ENS token contract specifications that enforce the maximum supply cap
- **Launch parameters**: The official ENS token launch date and initial distribution parameters

Unlike most Token Terminal metrics, this does not require blockchain event data, transaction logs, or external price feeds since it represents a fixed protocol constant.

## 3. Step-by-step calculation

### Component A: Protocol constants definition
- **Purpose**: Establish the fundamental tokenomics parameters for ENS governance tokens
- **Logic**: The maximum supply is set to exactly 100,000,000 ENS tokens based on the protocol's tokenomics design. The launch timestamp is set to November 9, 2021 at 00:00:00 UTC, which corresponds to when ENS governance tokens were first distributed to users
- **Key fields**: The `token_supply_maximum` field contains the constant value of 100,000,000, and the `timestamp` field marks the beginning of the token's existence

### Final aggregation
- **Combining components**: Since this is a single static value, no aggregation across multiple data sources is required
- **Currency conversion**: Not applicable as this represents a token count, not a monetary value
- **Time aggregation**: The metric uses daily grain (`timestamp_grain` = 'day') and applies a fill-forward strategy, meaning the same maximum supply value of 100,000,000 is repeated for every day since the token launch
- **Final calculation**: The final metric value is simply the protocol-defined constant of 100,000,000 ENS tokens for all time periods since November 9, 2021. The `finalize_metric_token_supply_maximum` macro ensures proper formatting, project identification as 'ens', and consistent time series structure across Token Terminal's infrastructure

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

Ethereum Name ServiceENS

Maximum token supply

Maximum token supply

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