Summary
ENS Labs settled a dispute over the eth.link domain with Manifold Finance for $300,000 after legal battles. ENS domains are not recognized by traditional DNS, so eth.link acts as a bridge. The domain was originally owned by imprisoned former Ethereum developer Virgil Griffith. Manifold Finance sniped the domain in an auction, leading to a legal battle that ended with ENS paying a settlement. The DAO approved the settlement and reimbursement of legal expenses.
Key Points
1. ENS Labs received approval from its DAO to pay Manifold Finance a $300,000 settlement to end a dispute over the eth.link domain.
2. ENS domains are not recognized by the traditional Domain Name System (DNS), but utilize the eth.link domain as a bridge to enable access through standard internet protocols.
3. Manifold Finance “sniped” the eth.link domain on an auction site after it expired, leading to a legal battle that ended with a settlement of $300,000 and reimbursement of $750,000 in legal expenses.