PANews reported on May 28 that according to The Block, ENS Labs has proposed an ENS v2 upgrade to migrate services to the Layer 2 network. ENS Labs said that ENS v2 aims to enhance scalability and reduce gas fees by transferring core functions from the Ethereum mainnet to the Layer 2 chain. If the proposal is accepted, users will benefit from reduced transaction fees.

ENS Labs has not yet selected a specific stack or Layer 2 network for the migration. However, once the migration is complete, the network will become the new platform for users to interact with ENS. The upgrade also proposes a new "layered registration system" for more efficient management of .eth domain names, including the ability to manage subdomains and configure resolvers. ENS Labs explained that the release of Ethereum Improvement Proposal (EIP) 4844 was an important factor in promoting the ENS upgrade, which significantly reduced the cost of the Layer 2 network through blob transactions.