It does not cost $120/yr. ENS protocol fees are: - unlimited subdomains, free - importing DNS name into ENS, free - for .eth names, based on length: 3 character

It does not cost $120/yr. ENS protocol fees are: - unlimited subdomains, free - importing DNS name into ENS, free - for .eth names, based on length: 3 characters, $640/yr; 4 ch, $160/yr; +5 ch, $5/yr For .eth names, you can pay ahead as many years as you want, so you can pay once and forget it about it. The you likely got to $120 is that there is also Ethereum network gas fees to pay to registration a name. That's a one time thing and fluctuates a lot. Since you can register for many years at a time, you can pay the gas fee once and get the name for many years. We're also working on putting parts of ENS on L2s to cut down on gas fees dramatically.