ENS DAO Newsletter #17 - 11/01/2022
Hello!
Hello and welcome to the Ethereum Name Service DAO Newsletter!
New editions are published on the 1st and 15th of every month.
This newsletter is available on the ENS DAO Governance Forum, Substack, and Twitter.
We encourage any feedback, questions, or comments!
Recent Proposals
No recent proposals to note. For details on the ENS DAO proposal process see our Governance Docs.
Ecosystem Updates
ENS DAO One Year Anniversary
The ENS DAO is celebrating its one-year anniversary with a POAP Paint Party! This interactive event will be a two-hour live stream event with guests from EthStaker, GitPOAP, and others. The event is scheduled for November 8th at 3 pm EST.
ENS Calendar
Keep up with important dates by subscribing to the ENS DAO’s calendar. The Working Group Stewards have restructured meeting times for Q4 2022:
| Working Group | Time | Day | Location |
|---|---|---|---|
| Meta-Governance | 7pm UTC | Tuesday | Google Meet |
| Ecosystem | 4pm UTC | Thursday | Google Meet |
| Public Goods | 5pm UTC | Thursday | Google Meet |
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ETH San Francisco
ETH San Francisco is a hackathon that enables teams to make something great in only 36 hours. The Web3 event brings together developers, industry experts, and companies from all around the globe and showcases the infrastructure and applications that will power the new decentralised web. ENS will have a presence at the event, with over $10,000 USD in prize money.
Alisha.eth: If anyone is hacking at ETHSanFrancisco, please jump into this thread if you’re interested in building a team, or have spots on an existing team, and hopefully we can connect some people who are interested in building ENS project.
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State of ENS - Q3 2022
Key Insights:
- Despite market weakness, ENS monthly active addresses remain robust. While down 33% from the May 2022 peak, monthly active addresses are still 2.5x higher year-over-year.
- ENS domain name registrations reached an all-time-high of 1.12 million in Q3 2022, up 71% quarter-over-quarter. Simultaneously, renewals grew 3x QoQ to over 100,000 in Q3 ’22.
- Revenue from ENS name registrations and renewals decreased 17% QoQ in USD terms (up 30% in ETH terms), due to a 27% decrease in registration revenue in USD terms.
- ENS treasury holds $185 million in unlocked funds and over $1 billion in locked tokens.
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ENSIP: Platform Source Parameter
Originally proposed by Slobo.eth and advocated by Avsa.eth, the Platform Source Parameter is an ENS Improvement Proposal that encodes which website registered a .eth name; for example: how many registrations were done through ensfairy.xyz
“This proposal suggests a social convention that generates the secret from a combination of taking the first 6 characters of a namehash, add another 6 characters for extra data and combines it with the appropriate number of random bytes.”
The ENS manager app(and other name registration apps), already generates this ‘secret’ parameter for the Step 1 commit transaction when registering a name. By utilizing the first 12 characters of the ‘secret’ parameter, it would enable platforms to label and track analytics on registrations by leveraging the existing registrar contract.
This improvement would also facilitate identifying creators within the ENS Ecosystem that have provably demonstrated added value. It’s important to identify creators who develop the ecosystem. Retroactive funding works because you can detect what has already demonstrated value, instead of Stewards having to make bets on what they think could happen. The ENSIP would allow for visibility of high value-add ENS Ecosystem developers.
Follow the conversation here.
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Grants Summary
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dWeb Services is a pinning service for ENS+IPNS .eth websites. DWeb Services aims to support the .eth web community in updating and pinning their websites faster, and easier, with no gas costs. All of this is made possible with IPNS technology. It offers an easy-to-use UX, making it possible even for non-technical people to update their websites for free. For big projects like the ones mentioned above, dWeb Services provides an API tailored to the needs of the .eth web.
- Steward Commentary: In consultation with .eth website subgroup, we have agreed on a grant of 5,000 USDC for dwebservices. This is becoming foundational infrastructure of the decentralized web with projects such as planetable.xyz, nimi.eth.limo, and predomain.eth.limo utilizing them. The grant is made to support dwebservices primary builder @tomlightning. Thank you for your continued efforts.
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Planetable.xyz is a native macOS app for building, browsing, and following dWeb content on IPFS + ENS. It’s a GUI consisting of a dWeb content reader, a two-column markdown editor, a static website generator, and a built-in IPFS node.
- Steward Commentary: Stewards are currently considering grants for Planetable.xyz
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Working Group News
Meta-Governance
The Meta-Governance Working Group hosted meetings on October 18th, 2022 and October 25th, 2022 at 7PM UTC.
Meeting minutes are linked below:
- Weekly Meta-Gov Meeting, October 18th, 2022 @ 7PM GMT
- Weekly Meta-Gov Meeting, October 25th, 2022 @ 7PM GMT
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ENS Endaoment Update
The submission period has closed and the DAO has since received eight proposals. All submissions have been posted on the forum by Nick.eth on the DAO Endaoment Submissions Summary.
Readers can view submissions highlights below:
| Applicant | Target Size | Performance Fee |
|---|---|---|
| Metix | $900,000,000 | 5% |
| Avantgarde | $100,000,000 | 12.5% |
| Karpatkey | $58,000,000 | 10% |
| Llama & Alastor | $80,000,000 | 0% |
| Fyde | $50,000,000 | 0% |
| Mimic | $75,000,000 | 4% |
| MaiCAP | $50,000,000 | 10% |
| AntAlpha | $70,000,000 | 10% |
The meta-gov stewards intend to meet and decide on a shortlist of finalists, who will be presented to the DAO for a vote to select the final fund manager. The vote will begin no later than November 7, the end of the RFP selection period.
Update: The meta-gov stewards have decided to extend the deadline for selecting a winner to the 18th of November, in order to give us more time to consult and negotiate with the authors of submissions. By the 18th we will select finalists and propose a DAO social vote on the shortlisted proposals for approval by the whole DAO.
ENS Agora
The DAO Tooling pod is allocating funds to create an engaging and accessible delegation platform. The goal is to improve both the $ENS delegation experience and tools to help Delegates establish themselves in the role of a Delegate.
Yiton Zhang is developing a delegation platform that puts decision making in the hands of qualified and engaged actors in the ecosystem. Their hypothesis is that focusing on making delegation low friction and transparency is one of the highest leverage things to invest in. Early mock up below.
ENS Dashboard
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ENS Town Hall
The Quarterly ENS Town Hall was hosted on October 27th, 2022. A separate article will be published to cover the event and its implications in detail. Presenters included members from ENS Labs, ENS DAO and the ENS Community. The next Town Hall will be held at the start of December. If you are interested in participating/presenting, send Alisha.eth a message.
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Ecosystem
The Ecosystem Working Group hosted meetings on October 20th, 2022 and October 27th, 2022 at 4PM UTC.
Meeting minutes are linked below:
- Weekly Ecosystem Meeting, October 20th, 2022 @ 4PM UTC
- Weekly Ecosystem Meeting, October 27th, 2022 @ 4PM UTC
Project Highlights
Winners from ETHOnline hackathon presented during the Ecosystem call:
- ENSEverywhere - Presented by David Mihal, Kalle Moen and Charly Martin. Their project is a revision of the ENS registrar contract that allows bulk registration and saves up to 34% on gas fees.
- Sublettuce - Presented by Kai. Sublettuce enables subletting or name rentals using the ENS Name Wrapper and fuse features. Kai is looking for contributors to help him with this project; please reach out to him on his Twitter.
- Kola Labs is working on expanding ENSIP12 to include multimedia support for music and videos. This expansion allows users to share music and video across dApps using the ENS metadata records. They will submit a proposal to expand ENSIP12 to the ENS DAO Governance Forum.
- ENS SNAP - Daniel Mueller presented ENS SNAP, a project that helps you track expiring names that you want to register with an open-source Jupiter notebook.
- SheetsNS - z80 presented SheetsNS, a spreadsheet API that automatically updates text records from user inputs on an external spreadsheet.
- Gates.wtf - Oscar Mörke presented gates.wtf, a tool that provides an easy way to verify users via their decentralized identities with custom condition logic.
- Unblock Receipts - BT presented for Unblock Receipts, which provides a way to quickly generate receipts for Ethereum Mainnet transactions.
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Public Goods
The Public Goods Working Group hosted meetings on October 20th, 2022 and October 27th, 2022 at 5PM UTC.
Meeting minutes are linked below:
- Weekly Public Goods Meeting, October 20th, 2022 @ 5pm UTC
- Weekly Public Goods Meeting, October 27th, 2022 @ 5pm UTC
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Protocol Development
ENS is partnering with UTUtrust, a trust infrastructure for the internet for a more human friendly and trustable web3. This partnership supports the resolution and reverse resolution of ENS names, and enables users to suggest ENS domain names for resources in the UTU protocol.
For more on the partnership, read here.
Get Involved
- Follow the ENS DAO and ENS DAO Newsletter accounts on Twitter.
- Join our Governance Forum!
- Join on our Discord to chat about ENS or speak to a moderator.
- Visit our Governance Docs.
ENS Stats
October 2022 stats for ENS:
- 174k new .eth registrations (total 2.75m names)
- 25k new eth accounts w/ at least 1 ENS name (total 594k)
- 8,173 avatar records set (total 58k)
- 1,851 DWeb content records set (total 15,685)
- $2.9m in protocol revenue (all goes to the DAO)
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Thank you very much for reading! Take care.
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