ENS Ecosystem Working Group Funding Request
Abstract
The ENS Ecosystem Working Group requests funding of 836,000 USDC to support operations through April 2025. This is the only funding request of Term 5.
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 | 836,000 | – | – |
Description
ENS Ecosystem Multisig Balances - As of October 4, 2023
The ENS Ecosystem Working Group multisigs:
| Multisigs | USDC | ETH |
|---|---|---|
| Main Multisig | 82k | 81.7 |
| IRL | 21k | - |
| Hackathon | 22k | 9.8 |
| Newsletter | 4k | - |
| Total | 129k | 91.5 |
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 100k for the bug bounty program. The actual spend will depend on what, if any, bugs are discovered.
| Initiatives | USDC | ETH |
|---|---|---|
| Hackathon | 300k | - |
| Grants | 200k | 10 |
| Library Support | 100k | - |
| Bug Bounty | 100k | - |
| Audit Support | 100k | - |
| IRL | 50k | - |
| Support | 15k | - |
| Reserved Total | 865k | 10 |
Reconciliation
| Initiatives | USDC | ETH |
|---|---|---|
| Current Balance | 129k | 91.5 |
| Reserved | (865k) | (10) |
| Buffer | (100k) | (81.5) |
| Total | (836k) | - |
Ecosystem WG is requesting 836,000 in USDC and zero ETH. This request ensures that there are sufficient resources to meet the expected future needs of the ecosystem working group. Buffer is an additional reserve to cover unforeseen expenses or opportunities.
Initiatives Description
| Initiative | Description |
|---|---|
| Hackathons | For our main partner, ETHGlobal, payments are made in December for the following calendar year. We anticipate participating in at least 7 events. |
| Grants | Grants consist of builder grants, Gitcoin rounds, and ENS subgraph subsidization. |
| Bug Bounty | Supports the official bug bounty program of ENS administered by immunefi. |
| Library Support | Support open-source libraries that ENS depends on, either directly or through a program such as drips. |
| Audit Support | Provide funding for auditing smart contracts that have significant prominence in the ecosystem or are expected to see widespread use. |
| IRL | Funding relates to events that coincide with conferences, such as ethCC & Devcon. |
| Support | Support mods for social platforms, technical and non-technical educational content and the newsletter. |
Historical Spending
For historical spending consult the spending reports for Q1 & Q2, which are released within 30 days after the end of each quarter.
This proposal was prepared by slobo.eth, Lead Steward of the Ecosystem Working Group.