[5.22] [EXECUTABLE PROPOSAL] ENSv2 De...

Description

Summary

This executable proposal seeks to implement the revised budget stream to ENS Labs develop, maintain and audit ENSv2. The motivation, justification, budget breakdown, and development plan was previously detailed in a Temp Check request.

Background

With over 3 million .eth names and 20 million more ENS names registered by the likes of Coinbase, Uniswap, and Linea – ENS has become the standard for web3 identity. As Ethereum's roadmap evolves towards being rollup-centric, it's essential for ENS to adapt in parallel, ensuring it meets the needs of both the Ethereum ecosystem and its users.

To continue scaling and evolving ENS, ENS Labs is requesting an increase in its annual budget from $4.2M USDC to $9.7M USDC, and a one-time grant for future security audits of ENSv2. This revised funding is necessary for ENS Labs to develop, maintain, and audit ENSv2, a major upgrade that will enhance decentralization, flexibility, and scalability by leveraging Layer 2 solutions and redesigning the ENS protocol from the ground up.

Specification

This executable proposal will initiate a new daily stream of 15,075.33 USDC from the ENS DAO treasury to ENS Labs, starting on January 1, 2025. This will run in addition to the existing streaming contract of 11,500 USDC/day at 0xB1377e4f32e6746444970823D5506F98f5A04201, for a total of 26,575.34 USDC/day ($9.7M USDC/year).

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voted for
180.37K ENS

0x2b...7d12

voted for

136.25K ENS

I support ENS v2 funding as mentioned in the forums. I  also agree with the need for quarterly reporting. I don't mind voting for this as is, since if there is no reporting or if there is any other discrepancy the DAO can cut the funding.

This is a stream, not an one-time payment.

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abstained

127.71K ENS

I am abstaining due to a conflict of interest.

0x98...6744

voted against

123.33K ENS

I support this funding and ENSv2, but (as I said in the temp check) the text of the proposal must have a requirement for quarterly financial and progress reports from Labs. Yes, Nick has committed Labs to doing this, but "we commit to this" isn't the same as "the DAO has officially voted this as a requirement for the funding". Therefore, I vote AGAINST. If another funding executable proposal was submitted that was the same except that it had the quarterly reporting requirement added, I would vote FOR it.

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voted for

116.14K ENS

It is great to have the commitment from ENS Labs for doing quarterly reports on the progress: https://discuss.ens.domains/t/temp-check-ep-5-22-ensv2-development-funding-request/19762/24

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111.46K ENS
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voted for
100.51K ENS
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abstained
100K ENS
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80.43K ENS
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46.35K ENS

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voted for

36.95K ENS

We support with the proposal and also feel aligned with comments around the hope for increased accountability

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voted for

30.91K ENS

Expanding to L2 is required to scale ENS.

ENS Labs has demonstrated that resources allocated to them produce results.

Further comments:
https://discuss.ens.domains/t/temp-check-ep-5-22-ensv2-development-funding-request/19762/3

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27.99K ENS

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voted for

18.93K ENS

Proud to be a part of this historic moment in the ENS Protocol.

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17.9K ENS
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12.5K ENS
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voted for

11.44K ENS

ENS must scale. ENS Labs is the best team to execute on scaling. I support

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voted for
10K ENS

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