ENS Ecosystem Working Group Funding Request
Abstract
The ENS Ecosystem Working Group requests funding of 409,000 USDC to support operations until the March 2024 funding window. This is the only funding request of this term.
The ENS Ecosystem Working Group is responsible for growing and improving the ENS Ecosystem by funding builders and projects that are ENS-specific or ENS-centric.
This social proposal is submitted to satisfy the requirements set out in Rule 10.1.1 of the Working Group Rules (EP 1.8). If this proposal is passed, the funding request will be included in a collective executable proposal put forward by all three Working Groups.
Specification
| USDC | ETH | $ENS | |
|---|---|---|---|
| ENS Ecosystem Main Multisig | 409,000 | – | – |
Description
ENS Ecosystem Multisig Balances - As of October 18, 2023
The ENS Ecosystem Working Group multisigs:
| Multisigs | USDC | ETH |
|---|---|---|
| Main Multisig | 215k | 157 |
| Builder Grants | 157k | 38 |
| Grants | 141k | 3 |
| IRL | 21k | 9 |
| Hackathon | 68k | 19 |
| Support | 74k | 19 |
| Bug Bounty | 14k | 0 |
| Merch | 39k | 4 |
| Newsletter | 14k | 0 |
| Total1 | 741k | 249 |
1Amounts do not foot due to rounding (739k vs. 741)
Reserved for Initiatives
Ecosystem reserves amounts to make sure we can cover initiatives that are important. Reserving is not the same as spending it. For example, we are reserving 250k for the bug bounty program. The actual spend will depend on what, if any, bugs are discovered.
| Initiatives | USDC | ETH |
|---|---|---|
| Grants | 300k | 115 |
| Bug Bounty | 250k | 0 |
| Hackathon | 150k | 50 |
| Audit Support | 100k | 0 |
| IRL | 75k | 0 |
| Newsletter | 25k | 0 |
| Reserved Total | 900k | 165 |
Reconciliation
| Initiatives | USDC | ETH |
|---|---|---|
| Current Balance | 741k | 249 |
| Reserved | (900k) | (165) |
| Buffer | (250k) | (50) |
| Total | (409k) | 34 |
As result, Ecosystem WG is requesting 409,000 in USDC and zero ETH. This request ensures that there are sufficient resources to meet the expected future needs of the working group.
Grants Breakdown
| Item | USDC | ETH |
|---|---|---|
| eth.limo1 | 85k | 10 |
| ensgrants.xyz | 0.0 | 55 |
| Fellowship | 60k | 0 |
| Discretionary | 155k | 50 |
| Total | 300k | 115 |
1 Expected to be paid in Q1 2024.
Initiatives Description
| Initiative | Description |
|---|---|
| Grants | Grants support ens small grants funding, builders such as eth.limo, unruggable, library support, and other builder centric bounties |
| Bug Bounty | Supports the official bug bounty program of ENS – soon to be managed by immunifi. |
| Hackathons | Sponsorship costs and prize money for hackathons and conferences |
| Support | Support mods for social platforms, technical and non-technical educational and archival content |
| IRL | Funding In Real Life events that coincide with the existing Ethereum event schedule |
| Merch | Subsidizing the cost of creating and shipping physical ENS merchandise including shirts, hats, and pins |
| ENS Fellowship | Supports exceptional developers actively creating and contributing to the ENS ecosystem with a 6 month Fellowship |
This proposal was prepared by slobo.eth, lead steward of the ENS Ecosystem Working Group.