Ethereum

Manifold Finance

when

Ethereum Name Service

<p>After an 18-month-long legal dispute, the Ethereum Name Service (ENS) developer has settled with Manifold Finance over ownership of the eth.link domain. The settlement, approved by the ENS decentralized autonomous organization (<a href="https://www.cryptopolitan.com/how-the-dao-proposal-steers-the-course/" rel="noopener noreferrer nofollow">DAO</a>), entails a $300,000 payment to Manifold Finance, allowing ENS Labs to retain domain ownership. Additionally, the DAO approved a $750,000 reimbursement of ENS Labs’ legal expenses.</p>
<p>The saga began when ENS Labs filed a lawsuit against Manifold Finance and domain registrars GoDaddy and Dynadot in an Arizona District Court, seeking to prevent the domain transfer. The lawsuit followed the expiration of ENS Labs’ hold over the domain in July 2022 after early contributor Virgil Griffith, the domain’s owner, could not renew it due to legal constraints.</p>
<h2 class="wp-block-heading" id="legal-battles-and-court-orders">Legal battles and court orders</h2>
<p>Manifold Finance acquired the eth.link domain at auction on Dynadot in September 2022, leading to months of legal proceedings. Despite initial setbacks, including the domain’s expiration and a court order in favor of ENS Labs, the legal battle continued.</p>
<p>In July 2023, Arizona District Judge John Tuchi ordered Dynadot to unlock eth.link, enabling ENS to transfer ownership. The resolution of the dispute culminated with the recent approval of the settlement by the ENS DAO.</p>
<h2 class="wp-block-heading" id="ens-terms-of-settlement-and-future-collaboration">ENS terms of settlement and future collaboration</h2>
<p>The settlement terms, as outlined by <a href="https://snapshot.org/#/" rel="noopener noreferrer nofollow" target="_blank">ENS</a> founder Nick Johnson, include a $300,000 payment to Manifold Finance, alongside confidentiality and non-disparagement clauses. Despite the financial settlement, ENS Labs retains ownership of the eth.link domain.</p>
<p>Moreover, after resolving the dispute, ENS and GoDaddy have reconciled and even collaborated. Earlier this month, the two entities partnered to offer .eth ENS domain holders the opportunity to link their domains with traditional domains at no cost.</p>
<p>The settlement between ENS and Manifold Finance marks the conclusion of a prolonged legal battle over the ownership of the eth.link domain. Approved by the ENS DAO, the settlement includes a $300,000 payment to Manifold Finance, enabling ENS Labs to retain ownership while also reimbursing legal expenses.</p>
<p>The resolution of the dispute paves the way for future collaborations, exemplified by the partnership between ENS and GoDaddy to provide enhanced services to domain holders. As the Ethereum Name Service continues to evolve, such settlements and partnerships are integral to ensuring the stability and functionality of the decentralized ecosystem.</p>

ENS settles dispute over eth.link domain after DAO approval

Table of Contents

Cryptopolitan_News

Other articles published on Feb 27, 2024

Convex Finance Price Prediction: Will CVX Reach the $10 Mark?

Australia Tightens AI Regulations Amid Privacy Concerns

Top 5 Lesser-Known Altcoins That Might Explode in March!

US Senators Move to Prohibit Central Bank Digital Currencies

Ultimate Crypto Trading Software: Zent Launches Innovative Platform For All Institutional Needs

Unveiling the Best No KYC Exchanges of 2024

Join our free newsletter for daily crypto updates!