The Ethereum Name Service (ENS) developer has reached a settlement with Manifold Finance regarding ownership of the eth.link domain after receiving approval from its decentralized autonomous organization (DAO) for a $300,000 settlement.
Approximately 88% of the DAO members approved the settlement, which entails ENS Labs dropping the lawsuit against Manifold and paying $300,000. Additionally, 84% of the DAO members voted to reimburse ENS Labs’ legal expenses with $750,000.
The settlement brings an end to an 18-month-long legal battle, with ENS Labs agreeing to pay $300,000 to Manifold while retaining ownership of the eth.link domain. The terms also include confidentiality and non-disparagement clauses.
The dispute originated from the expiration of ENS’s hold on the domain in July 2022, previously owned by Virgil Griffith. Manifold acquired the domain at auction in September 2022 after it expired, prompting ENS to file a lawsuit against Manifold, GoDaddy, and Dynadot.
Despite initial legal victories for ENS, including a court order to stop the domain’s transfer, months of legal proceedings followed. In July 2023, a court ordered Dynadot to unlock eth.link, allowing ENS to regain ownership.
Despite the legal dispute, ENS and GoDaddy have reconciled and recently collaborated to offer .eth ENS domain holders the option to link their domains with traditional domains for free.
ENS serves as the blockchain counterpart to the Domain Name System (DNS), enabling translation of domain names into IP addresses. The resolution of the dispute ensures continuity and stability in ENS operations.
The settlement marks the conclusion of a lengthy legal battle, allowing ENS to maintain ownership of the eth.link domain and continue its operations uninterrupted. The collaboration with GoDaddy signifies a positive step forward for ENS in enhancing its services and offerings.
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