The Meta-governance working group would like to inform you of our intention to distribute 80,000 $ENS tokens from our steward’s wallet to two groups that have been previously approved by the DAO to contribute in unique capacities: Our ENS DAO Service Providers and ENS DAO Security Council members. This distribution aligns with our mission to further decentralize the protocol by expanding the pool of active voters with delegated voting power.
Background
These funds were allocated to the Meta-governance working group through previous funding requests, specifically earmarked for this purpose in EP 5.9.
Each of the 8 Security Council members will receive 1,000 $ENS.
Total distribution: 8,000 $ENS
All tokens will be deposited into 2-year, linear vesting contracts from Hedgey.
Note for Service Providers: Meta-governance can only distribute tokens to the address receiving the stream. However, our intention is that these tokens should cascade to team members where possible.
Rationale
Service Providers: These organizations and individuals were chosen through a DAO-approved process to provide ongoing services that enhance and evolve the ENS system. Their contributions are crucial to the technical development, maintenance, and improvement of the ENS ecosystem.
Security Council Members: The Security Council serves a vital governance function by protecting the ENS DAO from potential governance attacks. This distribution acknowledges their 2-year commitment to this critical role, which is not compensated in any other way.
This distribution supports our goal of increasing ENS DAO participation from key contributors while recognizing their ongoing commitment to the ecosystem’s growth and security.
No further voting is required for this action, as it falls within the scope of previously approved proposals and the Meta-governance working group’s mandate.
We welcome any questions or comments from the community regarding this distribution.
As a member of the security council and Metagov I abstained from any discussion on that topic before it was posted but I support it. Also, since I have already received ENS for being a steward I will recuse the second vesting, which I believe would be a good rule of thumb to apply to all.
The security council members have responsibilities that could be considered a burden, however small, and the DAO is recognizing that here.
Please remember that this initiative is also about getting more ENS voting power out onto the street to further protocol decentralization. You can delegate the full voting power in this contract to any DAO contributor, or you can distribute the contract entirely if you are aware of a worthy recipient.
Part of our mission is to get more votes into stakeholder’s hands to protect the protocol so that we are in a better position numerically when the Security Council expires in two years.
Thanks for posting this, Spence. I support it. It’s a step towards governance distribution and security.
As a service provider, I’ll make sure to get part of that distribution into the hands of the contributors inside blockful who are involved with ENS.
As a security council member, this component is present in other security councils, but it wasn’t here. It will bring more responsibility and commitment from all parties involved, aligning incentives for securing the DAO.
Please take this with a grain of salt because of the conflict of interest.
Please take no offense, but I do not believe that 8,000 $ENS ( valued at $135,000 USD ) has much of a purpose being distributed to ENS Security Council members. The members selected for the security council have a total of approximately 1,039,430 $ENS ( valued at 17,597,549 USD ) that has been delegated amongst all 8 members.
How many service provider team members already have delegated $ENS and or self-delegated $ENS in the range of 0-999; 1000-10,000; 10,001-50,000; 50,001 + ?
Again, all members have at least 100,000 $ENS delegated.
If the tokens being distributed to the service providers will just be passed down to the team members then what was the purpose of the lengthy discussion and somewhat heated debates about token vesting.
Thanks for posting this @5pence.eth. I remember the first time we discussed this and I’m as excited about it now as I was the then!
As a Service provider and a 2+ year long DAO member and a Delegate, I genuinely appreciate and welcome this. Not only that it further decentralizes the voting power in the DAO and increases its security, but it also gives ‘token-weighted’ legitimacy to people who have dedicated their careers to ENS.
I follow every proposal carefully and vote every time even though my voting power is minuscule. The reason I mention this is because at times it felt like, even though I have a lot of experience in the DAO and building on ENS protocol, my vote wouldn’t make much of a difference.
I know this topic had been in discussion for some time now, it’s great to see it come to fruition. Thank you @5pence.eth and the Metagov team for all your hard work and dedication to ENS!
We really appreciate the thoughtfulness and effort that went into this plan to increase the decentralization of DAO voting power. Thanks to @5pence.eth and the Metagov working group for your leadership here.
