| Status | Draft |
|---|---|
| Voting | Targeting Oct 9th, 2024 |
| Authors | @simona_pop, @Coltron.eth, @vegayp |
ENS Public Goods Working Group Funding Request
Abstract
The ENS Public Goods Working Group requests funding to support operations until the next funding window in April 2025.
The Public Goods working group funds projects and builders improving the Web3 ecosystem. This funding stream is authorized in Article III of the ENS DAO Constitution. The funding supports initiatives related to open-source software, tooling, research and any practical implementations that broadly benefit a wide range of users of Ethereum and Web3.
The funds requested extends current need through to next term to ensure that next season’s stewards have some available funding before the next funding window available.
The total request in this proposal is 226k USDC to be transferred from the DAO wallet to the Public Goods Working Group.
Specification
This specification is the amount requested from the DAO treasury to the Public Goods Multisig to fulfill anticipated budgetary needs through the next formal funding window in April 2025.
| USDC | ETH | ENS | |
|---|---|---|---|
| Public Goods Main Multisig | 236,000 | - | - |
Description
Current Public Goods Balances (October 2nd 2024)
| Wallet | USDC | ETH | ENS |
|---|---|---|---|
| Main PG Multisig | 157.5k | 39.5 | 200 |
| Large Grants Multisig | 187k | - | - |
| Total Balance | 345k | 39.5 | 200 |
Reconciliation
| Wallet | USDC | ETH | ENS |
|---|---|---|---|
| Total Balance | 345k | 39.5 | 200 |
| Reserved for 2024 Initatives | (256k) | (10) | - |
| Total Rollover | 89k | 29.5 | 200 |
Of these funds, 256k is allocated to large grants builders and initiaves through to the end of 2024. This leaves approximately 89k USD and 29.5 Ether unallocated and available to be rolled into the next term.
Budget Requested through April 2025
| Funding Category | USDC |
|---|---|
| Builder Grants* | 245k |
| PG Perpetual Bounty | 20k |
| Events & Hackathons | 37k |
| Discretionary | 13k |
| Total Budget | 315k |
Note #1: To ensure grantees have consistency, the funds requested for this category carry the program to Q3 which is an exception from the other spending categories which plan only through April 2025.
Note #2: The PG Working group budget request is in USDC only; our balance of ETH will rollover to next term, but it will be left to future stewards discretion to swap it, keep it or return it to the treasury.
| Request Calculation | USDC |
|---|---|
| Total Budget | 315k |
| 2024 Rollover | (89k) |
| Total Request Amount | 226k |
Subtracting the 89k available to rollover from 2024, the unmet need is 226k USDC which is the sum total to be included as the specification of this funding request.
Spending Categories Explained
Builder Grants
This new category consolidates the exisiting Large and Small grants under one category and program title. The Public Good working group has been working with a provider to create a unified platform which will be announced during frENSday in Bangkok on 11/11/2024. To ensure grantees have consistency, the funds requested for this category carry the program through to Q3 which is an exception from the other spending categories which plan through to April 2025.
a) Small Grants
Multiple micro-grants will be distributed to builders via the Builder Grants platform to be launched. We have added the amount expected to spend in the next 5 months with the same amounts distributed in the last rounds.
b) Large Grants
Grants up to 50k USDC with applications accepted on a rolling basis throughout the term. Large Grants will continue in Q4. The working group will continue to focus on strengthening impact measurements accomplished by grantees during the previous Large Grants cycle.
PG Perpetual Bounty
Launched during ETHLondon in March 2024, this is a perpetual pool of funds that is available to builders who are developing projects which align with the principles of public goods in the web3 space.
This funding pool is available at any time, but also marketed specifically towards builders who are not eligible for ENS-related bounties during hackthons, but deserve support for their public goods mission.
Events and Hackathons
The working group provides support to Public Goods events and hackathons. These funds cover expenses related to event sponsorship, bounties, judging and other participatory support roles during events.
The current earmarked events are:
- ETHGlobal Bangkok
- Devcon
- ETHDenver 2025
This list is not set as several events are still in planning stages for Q1 of 2025. The PG stewards continuously assess opportunities for expanding the public goods conversation and collaborations.
Discretionary
The funds in this category are reserved for additional grant opportunities and expenses that arise during the term. Spending in this category is at the discretion of the working group stewards.