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The Ethereum Name Service (ENS) is preparing to launch an exciting new feature that allows domain holders to create subdomains with specific parameters. Through the ENS name wrapper smart contract, existing ENS domains can be converted into ERC-1155 tokens, which can then be utilized to generate subdomains. For instance, owners of xyz.eth can create a subdomain named abc.xyz.eth and even lend it to other users. The introduction of "fuses" provides two options, allowing both the subdomain and parent domain owners to set parameters or exclusively enabling parent domain owners to do so. These fuses have a permanent nature and only revert upon domain expiration. In conjunction with the name wrapper, an updated manager app will be launched to offer users a comprehensive experience. To ensure the security and stability of the new features, ENS is conducting a bug bounty program, with rewards offered to users who identify any issues. Additionally, ENS is assisting users who participated in the 2017 ENS auction in reclaiming their ETH using the Daylight tool. Presently, the smart contract contains approximately 62,310 ETH. Despite the bear market in 2022, ENS experienced remarkable growth as users registered a wide array of desirable alphanumeric combinations. Registrations peaked at nearly 440,000 in September 2022, contributing to $2.2M in fees from registrations and renewals in February. The 10K Club, consisting of numerical domains ranging from 1000 to 9999, generated a notable trading volume of 980 ETH over the past 30 days. Although ENS's governance token has declined approximately 7% in the same period, this drop was comparatively less than that of ETH, which fell by 3% according to The Defiant Terminal.