Wrapped States
Taking the Name Wrapper into account, an ENS name can be in one of these possible states:
The name has not even been registered/created yet, or it has expired.
The name exists and has not expired (in the case of .eth second-level names). The Name Wrapper contract does not have ownership over the name. You own the name in the registry and/or .eth registrar.
The Name Wrapper contract has ownership of the name (in the registry/registrar). You are issued an ERC-1155 NFT in return, which proves that you are the actual owner.
You can unwrap the name at any time, which burns the ERC-1155 NFT, and returns ownership in the registry/registrar back to you.
If your name is a subname like sub.name.eth, then the owner of name.eth can technically replace the subname and transfer it to a different owner.
In addition, the parent owner can burn parent-controlled fuses on your name.
The owner of the parent name is no longer able to replace this name, or burn any additional fuses on it. All .eth second-level names (like name.eth) are automatically put into the Emancipated state when they are wrapped.
The name can still be unwrapped and rewrapped by the owner.
The name can no longer be unwrapped. The owner can now burn owner-controlled fuses on the name. Fuses for subnames of this name can now be burned as well.
