Call for Nominees — ENS Foundation director

DAO-Wide General Discussion
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Call for Nominees: New ENS Foundation Director

Nominations are now open to appoint a new director of the ENS Foundation.

If you would like to nominate yourself to be a director of the ENS Foundation, follow the steps in the ‘Nomination Process’ section below. The nomination window closes at 9am UTC April 30.

Anyone who satisfies the eligibility requirements and completes the steps below will be included in the ballot for election.

The election commences at 9am UTC on May 1 and closes at 9am UTC on May 5.

Background

Brantly Millegan has communicated that he would like to resign as a director of the ENS Foundation (view post here). Brantly’s resignation will take effect following the appointment of a new director by the DAO.

The DAO may appoint a new director of the ENS Foundation pursuant to Article 15 of the Articles of Association of the ENS Foundation.

A single new director will be appointed following a nomination process and election. Details regarding the nomination process are outlined below.

General information

The ENS Foundation is a Cayman Islands incorporated foundation that represents the ENS DAO in the real world. More information about the ENS Foundation is available here.

The newly appointed director will be required to provide KYC information to Walkers Corporate Limited. Walkers Corporate Limited provides the registered office and secretary to the ENS Foundation in the Cayman Islands.

Please note that the full legal name and address of the newly appointed director will be publicly available.

Please seek independent legal advice before nominating yourself to be a director of the ENS Foundation.

Eligibility

Any person 18 years of age or older is eligible to nominate themselves to be a director of the ENS Foundation during the nomination window. There are no residency or nationality restrictions.

Nomination Process

Anyone who satisfies the eligibility requirements above and completes the following steps during the nomination window will be included on the ballot for election.

Step 1: Create your Snapshot nomination HERE

Create a new Snapshot proposal in this Snapshot space and populate it with a ‘Title’ and ‘Description’ based on the information set out below. Please answer all three questions.

Set the ‘End Time’ of the vote to April 30, 9am UTC. Snapshot will show the time in your local time, please be sure to adjust this to end at 9am UTC time.

Set the Title
[Your legal name] - ENS Foundation Director Nomination

Enter a Description: Copy and paste the template below into the description box.
Legal Name:
Twitter handle:
Are you 18 years of age or older? [Yes / No]
Are you a U.S citizen or permanent resident? [Yes / No]
Do you live in the U.S or one of its territories? [Yes / No]

  1. Why should you be appointed as a director of the ENS Foundation?
  2. How would you handle a request from the SEC for information about the ENS Foundation and/or the $ENS token?
  3. Is there any other information you would like delegates to know about you or your nomination?

snapshot-nomination
snapshot-nomination1348×928 56.6 KB

New Proposal screen in Snapshot

Step 2: Copy and paste your completed template into the nominees thread HERE.

Link to Snapshot nomination:
Legal Name:
Twitter handle:
Are you 18 years of age or older? [Yes / No]
Are you a U.S citizen or permanent resident? [Yes / No]
Do you live in the U.S or one of its territories? [Yes / No]

  1. Why should you be appointed as a director of the ENS Foundation?
  2. How would you handle a request from the SEC for information about the ENS Foundation and/or the $ENS token?
  3. Is there any other information you would like delegates to know about you or your nomination?
    Important: Please remember to link to your Snapshot nomination in your post.

Step 3: Get 100,000 votes on Snapshot to support your nomination

Important Dates

Nominations

Nomination window opens: 9am UTC on April 10
Nomination window closes: 9am UTC on April 30

Election

Election commences: 9am UTC on May 1
Election ends: 9am UTC on May 5

Questions?

If you have any questions, please ask in this thread or reach out to me (@futurealisha) on Twitter.

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Here is a demo video of how to post a nomination to the Snapshot space, as required in Step 1.

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Hi!

I have a few questions.

(1) I saw some discussion surrounding Director’s & Officer’s Insurance in an old thread from February 2022. Did this ever come to fruition?

(2) Is this statement from 2022 still accurate? “Presently there is no fixed compensation for the role of Director.”

(3) I think the interview question about “how would you handle a request from the SEC” is a fine way to underscore the seriousness of the role but at the same time seems to emphasize the legal risk that a director would be taking. I also assume that was a reference to the USA’s Securities & Exchange Commission but am not positive given how many people in the ENS community are not Americans.

It is my understanding also that the ENS Foundation has no bank account and that ENS Labs pays the Foundation’s expenses. In Feb '22, Nick.eth specifically said “the Foundation does not have a bank account these are currently paid for by True Names Limited (the nonprofit I direct that funds and organises most ENS development), and requested for reimbursement by the DAO after the fact.” If this is still the case, I wonder if this arrangement would create further legal liability for ENS Foundation directors since the Foundation would not have its own bank account in which to draw funds from to protect itself, i.e. if ENS Labs refuses to pay for the ENS Foundation, then the Foundation and its directors could be left holding the bag, no?

I apologize for bringing this up as I did search the forum but it keeps directing me to the Feb 2022 threads. I just want to make sure I understand the circumstances as some people know that I am interested in the role. Is this right?

  1. There’s no compensation for directors at present
  2. There’s no insurance for directors at present
  3. The entity has no bank account of its own to pay its own real-world expenses
  4. There is an awareness that securities regulators could serve the entity with inquiries etc.

What is the upside?

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I have requested more information from @nick.eth on this.

Yes, this statement is correct. In order to compensate directors, an executable proposal will need to be passed by the DAO. The amount requested should be enough to fund the Foundation to cover director compensation, legal expenses, insurance and any other expenses that may arise.

Yes, the reference to the SEC refers to the Securities & Exchange Commission. The SEC has a wide reach when it comes to anything that touches US citizens (such as the $ENS token), so non-US directors must also be aware of their responsibilities when it comes to being a director of the Foundation.

Anyone putting their name forward should seek independent legal advice to assess what personal legal liabilities may arise, if any. Potential liabilities may differ based on a person’s country of residence and/or citizenship.

The Foundation should request funding from the DAO so it is not reliant on ENS Labs or any other party to cover operational expenses. Foundation debts are owed by the Foundation and not personally by Foundation directors.

  1. Correct
  2. TBC by Nick
  3. Correct
  4. Correct

It is a position of responsibility, so any potential upside will be different for each person.

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Nominations to appoint a new director of the ENS Foundation have now closed.

Two nominees will be included on the ballot for election:

  1. Sean Murray (@3531)
  2. Alex Van de Sande (@AvsA)

The election opens at 9am UTC tomorrow, Monday, May 1 and closes at 9am UTC Friday, May 6.

The voting method used will be single-choice voting. Delegates will be asked to select one of the following options:

  1. Sean Murray
  2. Alex Van de Sande
  3. None of the above
  4. Abstain

In order to win the election, a nominee must:

  1. reach quorum of one million votes; and
  2. receive the greatest number of votes.

If a nominee reaches quorum and receives the greatest number of votes, the nominee will be appointed as a director of the ENS Foundation following the completion of mandatory KYC checks conducted by Walkers Corporate Limited.

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Voting is now live on Snapshot. You can vote here.
The thread related to the vote (EP 3.6) can be found here.

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