ENS DAO Newsletter #48 — 11/21/23

DAO-Wide Newsletter
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ENS DAO Newsletter #48 - 11/21/2023

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:warning: NOTICE:

We value the voice of our community and are always eager to hear from you. The ENS team actively encourages feedback on all updates to better our system and enhance user experience. Please share your thoughts, suggestions, or concerns at ens.canny.io.

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:sunny: Welcome!

Welcome to the ENS DAO Newsletter:

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:newspaper: Newsletter Roundup (tl;dr)

  • ENS Labs Update: EVM Gateway on OP Goerli, Patent Debate
  • Community Updates: Biennial, EAS, “The Goose”
  • Meta-Governance: Financial Report, Bylaws RFP
  • Public Goods: PG Panel, discussing DAO proposals
  • Ecosystem: Service Provider Nominations Open

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:spiral_calendar: Calendar

Refer to ENS DAO Calendar for ENS DAO working group calls and other events.

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:ballot_box: Recent Proposals

Proposal Discussion Vote
[EP 4.5] [Executable] Endowment permissions to karpatkey Open Passed
[EP 4.6] [Executable] October 2023 Working Group Funding Open Passed
[Social] Create Streams for new service providers Open Passed
[Social] Amend working groups rules to extend to a full year Open Passed

Ratification Update for DAO Delegates: The DAO has voted FOR the abovementioned proposals and will be implemented on or after November 10th. For a detailed review of the discussions and to track the implementation, delegates can refer to the respective proposal links. Thank you for your continued participation in ENS DAO Governance.

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Note: A minimum of 100k $ENS is required to submit executable proposals. Once a proposal gains momentum, the stewards will prioritize it for a vote during the designated voting window. See our Governance Docs for more information. To view the real-time distribution of voting power among delegates, visit votingpower.xyz.

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:cyclone: ENS Labs Updates

:chart_with_upwards_trend: ENS Stats: October 2023

In October 2023, ENS experienced significant growth; the service witnessed 56,000 new .eth domain registrations, bringing the total number of names to 2.4 million. This generated $1.2 million in protocol revenue, which was fully allocated to the ENS DAO. Additionally, the ENS ecosystem grew with 49,000 new Ethereum accounts that hold at least one ENS name, culminating in a total of 790,000 such accounts. The month also saw 47,000 primary ENS names being set, amounting to a cumulative total of 677,000. Furthermore, there was an increase in the personalization of ENS profiles with 11,600 new avatar records set, reaching a new high of 135,000 in total. — 11.02.23

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:hammer_and_wrench: Recent updates from the ENS Repository

Notice: Please be informed that the ENS Repository has been updated with new commits and actions in the past two weeks since our last newsletter. While we strive for accuracy, there may be instances of incompleteness or errors. For the most precise and up-to-date information, we recommend checking the ENS Repository directly. We appreciate your understanding and encourage your due diligence.

  1. Repository: ensdomains/ens-app-v3
  2. Repository: ensdomains/docs-v2
  3. Repository: ensdomains/content-hash
    • TateB pushed: feat: remove multiformats Pull Request #14, Draft, aiming to merge 3 commits into master. Key details include: Commit 5c23e9f by TateB, involving 2 changes in the package.json file, specifically 1 addition and 1 deletion.
  4. Repository: ensdomains/ensjs-v3
  5. Repository:ensdomains/ens-contracts
  6. Repository: ensdomains/offchain-resolver
  7. Repository: ensdomains/ensdomains-landing-v2
  8. Repository: ensdomains/ccip-rust-gateway
    • Lucemans introduced initial project: b165e2d
  9. Repository: ensdomains/thorin
    • jakim929 & gskril commit: Update installation instructions to include.., d37dc4f updates the installation instructions to specify the inclusion of peer dependencies styled-components and react-transition-state, which were previously not listed in the initial install instructions.
  10. Repository: ensdomains/evmgateway
    • makoto and Arachnid pushed: Crosschain delegatable resolver (#11), Commit e6147d9
    • makoto pushed: Added instruction on subname registrar CI #196, Commit 383a3d2
    • makoto pushed: Add base deployment CI #195, Commit f841a7e
    • makoto pushed: Update bun CI #194, Commit b6c37f4
    • makoto pushed: Fix wildcard for subname CI #193, Commit 10c8dee
    • makoto pushed: Add getaddr CI #192, Commit 75373f7
    • makoto pushed: Add setup script CI #191, Commit 408df76
    • makoto pushed: Update deployment readme CI #190, Commit 3f9587d
    • makoto pushed: Add deployment script CI #189, Commit 738bedc
    • makoto pushed: Merge branch ‘feature/crosschain-resolver-with-reverse-registrar’ CI #187, Commit c579177
    • makoto pushed: Recreate bun.lockb CI #186, Commit e142a7b
    • makoto pushed: Update ens-contracts on crosschain-reverse-resolver CI #185, Commit 6e725f6
    • makoto pushed: Commit bun CI #184, Commit 8240df8
    • makoto pushed: Resolve conflicts CI #183, Commit 4de68ed
    • makoto pushed: Crosschain reverse resolver with L2ReverseRegistrar CI #182, Commit 0af483b
    • makoto pushed: Resolve conflicts CI #181, Commit 5ef2612
    • makoto pushed: Update bun CI #180, Commit 7fad46a
    • makoto pushed: Resolve conflicts CI #179, Commit 35b91ee
    • makoto pushed: Crosschain delegatable resolver CI #178, Commit e6147d9

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Debate: Patents in Open-source Ecosystems

In a nuanced situation, Unstoppable Domains (UD) has made strategic moves that have stirred the waters with ENS Labs. UD, having secured a patent and actively pursuing others, positions itself protectively within the Web3 domain. They have extended an invitation to ENS Labs to join the Web3 Domain Alliance, an initiative led by UD, which ostensibly champions open innovation.

Nick Johnson of ENS Labs has publicly expressed concern about this direction. ENS, a proponent of open-source and open standards, seems to feel that UD’s actions could potentially stifle innovation in the Web3 naming space. There is an implication that ENS Labs sees the requirement to join the Web3 Domain Alliance as a form of strong-arming, given UD’s patent activities.

ENS has suggested an alternative: a legally enforceable patent pledge from UD to the entire Web3 community, ensuring open-source access and preventing potential litigation against innovators in the space. However, UD’s response indicates a belief in the protective power of patents and a preference for managing these issues within the alliance framework they lead.

The discourse suggests a tension between two philosophies: one that believes in an unencumbered commons for innovation and another that sees strategic patenting and alliances as necessary for defending against threats, particularly from Web2 incumbents. ENS Labs stands firm in its position, willing to challenge the patent if they believe it encroaches upon their innovations. Meanwhile, UD holds that their approach with the alliance and patenting is in the best interest of Web3’s future, implying that their methods provide a safeguard for the community.

Both parties appear to remain open to dialogue, although their stances on how best to foster innovation within Web3 are at odds. The resolution of this conflict could set a precedent for how intellectual property is handled in the emergent and rapidly evolving Web3 space. — 11.16.23

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EVM Gateway | Scaling ENS on L2

ENS Labs has unveiled the EVM Gateway; it is designed to enhance interoperability across Ethereum Layer 1 and Layer 2 networks, paving the way for a new era of seamless blockchain integration. By facilitating secure and efficient cross-chain interactions, the EVM Gateway serves as a cornerstone for the next generation of Layer 2 resolvers. Its modular architecture empowers developers to either set up their own gateways or leverage existing ones, ensuring a versatile and user-friendly experience. Already making waves, the EVM Gateway has been adopted for early use on the Optimism Goerli Testnet, marking a significant milestone in ENS Labs’ Layer 2 roadmap. With the potential to revolutionize communication between smart contracts and decentralized applications, the EVM Gateway is poised to foster a more connected and efficient ecosystem. — 11.15.23

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Constellation Connect | Keynote: The EVM Gateway

At Chainlink’s Constellation Connect in London, Matoken.eth delivered a presentation on the EVM CCIP-Read Gateway. This event marked the first public unveiling of this scaling technology developed by ENS Labs. The presentation covered various aspects, including ENS’s offchain strategy, the intricacies of the EVM L2 Gateway, and its applications beyond ENS. Matoken.eth also introduced practical components like the Offchain Resolver Starter Kit and the EVM Gateway Starter Kit. Review the presentation and visit the repository. — 11.08.23

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Devconnect | Keynote: The ENS Canon

At Devconnect, @matoken.eth and tanrikulu.eth (@mdt) presented a comprehensive overview of “The ENS Canon.” This presentation explored the intricacies of ENS and its multifaceted utilities in Web3. Key highlights of the presentation included an in-depth explanation of what ENS is, its integration examples, and its role as a Web3 username. The speakers delved into three levels of building on ENS: reading ENS data, writing ENS data, and utilizing the EVM Gateway. They demonstrated the practical use of ENS in various scenarios, such as reverse lookups and avatar text record examples. The discussion also touched upon advanced concepts like the EVM Gateway’s role in verifying Layer 2 data on Layer 1, emphasizing its importance in a trust-minimized gateway. This presentation not only informed the audience about the technical aspects of ENS but also highlighted its significance in improving user experience in the Web3 ecosystem. — 11.17.23

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ENS Labs Appoints Alex Urbelis as New General Counsel and CISO

ENS Labs has announced a significant new hire for their team, bringing on board Alex Urbelis from Crowell. Alex will serve as the General Counsel and Chief Information Security Officer (CISO) for the organization. With a track record of international recognition as a technology attorney and cybersecurity expert, Alex’s previous roles include serving as CISO at the NFL and substantial work with ICANN and DNS. His expertise encompasses threat intelligence, digital asset protection, and cybersecurity practices, and he is noted for his unique multidisciplinary approach to legal issues. ENS Labs has expressed their enthusiasm for Alex joining their team, underscoring the valuable addition he will make with his breadth of experience and depth of knowledge in the field. Welcome, Alex! — 11.09.23

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:radio: ENS Media Alerts

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:globe_with_meridians: Community Updates

ENS DAO Observes Biennial Anniversary

The ENS DAO is observing its biennial anniversary by reflecting on the significance of its Constitution and the core values and principles it established for decision-making. There is a call to revisit the five foundational articles that guide the governance of ENS. The Constitution serves as a bedrock for the community, guiding aspects beyond the scope of DAO smart contracts to ensure legitimacy and alignment with the community in discretionary decisions. This anniversary marks a milestone of over 84,000 voters who ratified the Constitution two years ago, underscoring the active participation and engagement of the ENS community in the governance process. — 11.16.23

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Onchain Attestations with Coinbase

Coinbase has integrated Ethereum Attestation Service (EAS) to enable users to verify their account and country credentials directly on the Ethereum blockchain, a process fully authenticated by Coinbase. This feature allows users to confirm the legitimacy of their trading accounts and, if desired, their country of residence, linking these verifications to their self-custodial Ethereum wallet addresses, which are not transferable. Additionally, Coinbase leverages ENS subnames, particularly through verifications.coinbase.eth, to further underscore its commitment to trust and reliability, demonstrating the effective application of ENS subnames in enhancing user security. — 11.09.23

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6529.eth custodies “The Goose”

6229.eth recently secured “The Goose” artwork, at thegoose.6529.eth. This move not only showcases the artwork’s unique identity but also underscores the growing trend of utilizing ENS subnames for digital asset management. ENS subnames serve as a simplifying layer, offering memorable and personalized addresses for complex blockchain identifiers. — 11.10.23

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Devconnect Panel: Public Goods

The Public Goods Working Group hosted a panel during ITU Blockchain’s event “notDEVCON”; the talk featured a retrospective on ENS DAO’s Public Goods funding model where they presented several initiatives including ENS Grants, Small Grants and Large. — 11.17.23

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Status.app integrates ENS for early sign-ups

Status.app is an open-source, decentralized crypto communication super app that offers various features designed for web3. It’s integrated ENS, which allows users to utilize their ENS names for simplified sign-ups to its beta. Status.app offers a diverse set of web3 features, including decentralized community engagement, private messaging with encryption, multi-chain cryptocurrency management, and a dApp browser for web3 applications. — 11.18.23

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1W3 Buildathon Announces Winners

1W3’s inaugural buildathon has closed and the organizers are pleased to reveal the outstanding winners. A total of $1150 in prizes was distributed among six exceptional participants:

  • artiefishal.eth
  • aft3rparty.eth
  • tradfi.web3kz.eth
  • joyful.eth
  • chapy.eth
  • frogfrens.eth

These winners distinguished themselves with their inventive and forward-thinking solutions, highlighting the remarkable talent and collaborative spirit within the tech community. Their achievements emphasize the crucial role of such events in fostering innovation.

1W3 expressed their gratitude to ENS DAO and Labs for their invaluable support and collaboration in bringing the 1W3-sponsored Buildathon to fruition. — 11.18.23

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Raffy.eth builds a tool to check ENS Expirations

@raffy has developed a convenient tool to streamline the process of ENS domain name expirations. This innovative solution, available at raffy.antistupid.com/eth/ens-exp.html, provides users with a hassle-free way to verify the expiration status of multiple ENS domains in one go. By using this tool, users can efficiently manage their ENS portfolio, ensuring they never miss an important renewal date. — 11.18.23

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frENS Hour in Istanbul

Blockful.io hosted an impromptu “frENS hour” event at Devconnect Istanbul, proudly organized and supported by Blockful, FireEyesDAO, and POAP. This event brought together blockchain enthusiasts, developers, and members of the community for an engaging and informative gathering. Participants had the opportunity to network, share insights, and learn from experts in the field. It was a dynamic occasion that showcased the collaborative spirit of the blockchain ecosystem. — 11.14.23

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:pushpin: Working Group Bulletin

Q3/Q4 Lead Working Group Stewards + Secretary Appointment

Appointments:

The responsibilities of the Lead Stewards & Secretary are set out in Rule 9.8 and Rule 9.9 of the Working Group Rules.

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ENS DAO Working Group Schedule (Q3/Q4 2023):

Working Group Time Schedule Location
:balance_scale: Meta-Governance 3pm UTC Tuesday Google Meet
:high_brightness: Public Goods 4pm UTC Tuesday Google Meet
:seedling: Ecosystem 5pm UTC Thursday Google Meet

Note: Working Group Budgets for Q3/Q4 are linked within each respective row.

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:hammer: Meta-Governance

The Meta-Governance working group hosted its weekly meeting on November 7th, 2023

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DAO Financial Report

The ENS DAO October Financials reveal a strong position in terms of sustainability and endowment. Revenues are higher than cash burn, with a cash inflow of $1.2 million, which is 2.17 times the cash burn rate, and an operating runway of 151 months. This indicates a healthy financial status, with the current revenues at $1.8 million compared to $1.9 million in the previous month and $2.8 million in the previous year. The normalized cash burn stands at $0.6 million, consistent with the previous month and down from $0.8 million the previous year. Reserves have increased to $85 million, up from $80 million last month and $62 million last year, consisting of $59 million in ETH and $26 million in USDC​​.

The endowment is also well-funded, with the second tranche completed and a social consensus reached to reduce stETH exposure to 20%. The endowment’s assets amount to $58.8 million, with $13.0 million in stablecoins and $45.8 million in ETH invested. The Profit and Loss (P&L) for the period stands at $4.3 million, which includes $4.2 million from ETH mark-to-market and $117k from returns. These returns count token yield farming rewards when they are claimed and converted to the base currency. The financial reporting indicates that the endowment’s recurring revenues cover 21% of the cash burn, which is a positive sign of financial health and forward planning.​ — 11.09.23

Read the full reports here:

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Request for Proposal: ENS DAO Bylaws

The Meta-Governance working group is seeking proposals from qualified individuals or firms to create comprehensive DAO bylaws for the ENS DAO. These bylaws should be clear, adaptable, and follow best practices, including existing DAO documentation. They will cover aspects like working group operations, voting processes, bylaws amendments, and the DAO’s responsibilities. The RFP is open until November 21st, with submissions accepted via DM to @Meta-Gov_Stewards. After review, the selected party will work with the Meta-Governance Working Group to draft the bylaws for DAO review and adoption through a social vote. — 11.20.23

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:sunny: Public Goods

The Public Goods working group hosted its weekly meeting on November 7th, 2023:

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Open Discussion

The discussion consisted of increasing accessibility of engaging in DAO proposals. Coltron.eth expressed a keen interest in fostering discussions on this matter. The conversation revolved around strategies to acquire voting power, including delegate races and potential collaborations with entities such as Coinbase, which holds a significant number of delegations. Coltron recommended setting aside this topic for a future meta-governance discussion. Additionally, it was announced that a DAO Town Hall is scheduled for December, with the exact date yet to be confirmed. — 11.07.23

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:seedling: Ecosystem

The Ecosystem working group hosted its weekly meetings on November 9th, 2023 and November 16th, 2023:

Note: The ENS Ecosystem Working Group offers rolling grants, and applicants can apply anytime. The evaluation process takes around four weeks, and unsuccessful applicants are welcome to reapply in the future.

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Project Presentation: eth.cd

Hidayath.eth recently presented their project, eth.cd, during the ecosystem working group call. Their initiative revolves around creating a social network centered around ENS domains, aiming to assign a “Social Score” based on the number of ENS records associated with users. In the future, they plan to expand this score to encompass other protocols as well. With approximately 70,000 unique names complete with avatars, they intend to display the top 100 names on the platform’s homepage. Additionally, they are actively working on establishing standards for ENS records, such as integrating Instagram links. Hidayath.eth’s vision extends to integrating various social and social graph tools into their protocol, including the Ethereum Follow Protocol. — 11.09.23

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Service Provider Nominations are Open

The DAO has made a noteworthy decision by allocating a substantial $3.6 million USDC funding pool for service providers dedicated to advancing the ENS ecosystem. This move follows a successful vote within the ENS DAO, reflecting the community’s strong commitment to fostering ENS’s growth. Nominations for service providers are now open, welcoming development teams engaged in ENS-related projects to participate, with up to $1 million in annual funding available for selected providers who meet the minimum 10,000 $ENS token threshold for eligibility. The nomination window is set to close on December 1st, and interested parties can submit their nominations on the forum and view official rules here. — 11.16.23

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:memo: Resources

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Thank you very much for reading! Goodbye. :wave:t2:

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