Update
ENSv2 Migration Proposal for .eth Names
Ethereum Name Service (ENS) has proposed a major overhaul of the .eth domain system, moving to ENSv2 without requiring existing .eth domain holders to migrate. Holders who migrate to ENSv2 will permanently transfer management of their domains to the new system, with no mechanism for returning their original tokens. The proposal remains subject to approval by the ENS decentralized autonomous organization (DAO). ENSv2 would introduce discounts for longer registrations and changes to registration costs, including a 60% increase for names with five or more characters to $8 per year, and a 44% reduction for six or more years. The proposal also extends registration expiry dates by 62 days, and introduces a 28-day grace period for migrated names, while maintaining the 90-day grace period for ENSv1 domains.