ENS DAO Newsletter #61 — 05/21/24

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ENS DAO Newsletter #61 - 5/21/2024

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:sunny: Welcome!

Welcome to the ENS DAO Newsletter:

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:newspaper: Newsletter Roundup (tl;dr)

  • ENS Labs Update: ENS Manager Update, Bug Bounty Program, Subgraph Migration
  • Community Updates: Community Spaces, EAS Cohort Showcases, Subname Minting on Farcaster
  • Meta-Governance: Voting Period Results, Agora Updates, Financial Reports
  • Ecosystem: ENSIP Discussion, Service Provider Updates
  • Public Goods: Large Grants Presentation, Perpetual Bounty Grants Winner

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:spiral_calendar: Calendar

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

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:ballot_box: Term 5 Proposals

The Term 5 Dashboard, managed by the Meta-Governance Working Group, provides updates and summaries of DAO governance and initiatives. Regularly check it for the latest developments.

Proposal Type Discussion Status
Upgrade DNSSEC support Executable Open Executed
Commence Streams for Service Providers Executable Open Executed
Determine ENS Labs’ next steps in eth.link litigation Social Open Passed
Funding Request: Meta-Governance Working Group (1H) Social Closed Rejected
Funding Request: Public Goods Working Group (1H) Social Open Passed
Funding Transfer: Public Goods Working Group (1H) Executable Open Executed
Enable Self-Funding for the Endowment Executable Open Executed
Security Council Social Open Passed
ENS Steward Vesting Proposal Social Open Passed
Roles Modifier V2 Migration Executable Open Pending

Note: A minimum of 100 $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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:memo: Proposal in Queue:

Proposal: Roles Modifier V2 Migration and Updates to Endowment Permissions

Karpatkey’s upcoming proposal introduces the activation of Roles Modifier v2, enhancing treasury management operations with features like allowances and improved visualization. The revised permissions policy enables swapping actions on CoW Swap while removing obsolete actions and protocols, ensuring robustness and security within the DAO ecosystem. Read the proposal in full here.

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:cyclone: ENS Labs Updates

:chart_with_upwards_trend: ENS Stats: April 2024

In April 2024, the ENS Protocol registered 48k new .eth domains, bringing the total to 2.1 million. The protocol generated revenue of $1.4 million during this period, all of which were allocated to the ENS DAO. The number of Ethereum account holders with at least one ENS name increased by 44.5k, totaling 877k. There were 42.3k primary ENS names set, making the overall count 833k. Additionally, 9.3k new avatar records were created, reaching a cumulative total of 169k. — 1

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ENS Manager Update

ENS Labs announced an update to the ENS Manager App, enabling users to register and extend domain names to a specific date. This new feature provides greater flexibility, allowing users to choose the exact expiration date for their domains. — 05.10.24

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ENS Subgraph Migration

In a recent Ecosystem call, The Graph protocol announced plans to deprecate its hosted version on June 12th. Edge and Node, along with ENS Labs and the Ecosystem Working Group, developed a transition plan. Applications using the ENS subgraph should update their endpoints to the new URL provided. The ENS DAO Ecosystem Working Group plans to cover query fees based on current usage, with users encouraged to set up their own billing and contact the group if usage exceeds the 100k monthly free tier. A community API key with usage and rate limits is being considered for casual use cases, with documentation updates forthcoming. This change will sunset the current version, necessitating that applications using the old ENS subgraph update their endpoints. A proposal detailing this migration will soon be posted to the ENS forum. The new ENS Subgraph can be queried here. For further guidance, refer to the Graph’s documentation on Creating a Subgraph. — 05.10.24

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ENS Bug Bounty Program

ENS Labs announced an enhancement to the bug bounty program in collaboration with Immunefi; the ENS DAO Ecosystem Working Group will commit up to $250,000 for critical smart contract bugs and up to $100,000 for significant web infrastructure issues. This program incentivizes security researchers to discover and report vulnerabilities, ensuring the robustness and reliability of the ENS ecosystem. Rewards are provided in USDC, and participants must adhere to specific rules and guidelines, including the submission of a proof of concept. View the full program description here. — 05.10.24

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Integration: Gemini

Gemini, a regulated cryptocurrency exchange, announced its latest integration with the ENS, enabling users to enter their .eth ENS domains directly in the destination address field when withdrawing crypto. This new feature, now available on mobile, simplifies the process of sending cryptocurrency by allowing users to use human-readable names instead of complex alphanumeric addresses. This integration aims to enhance user experience and improve the accessibility of cryptocurrency transactions on the Gemini platform. — 05.13.24

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ENS Labs Introduces garypalmerjr.eth as Community Advocate

ENS Labs announced a partnership with garypalmerjr.eth as a Community Advocate for a series of ENS Water Cooler Spaces. Known for his deep knowledge of ENS and his passion for the community, garypalmerjr.eth is set to leverage his expertise to foster engagement and growth within the ENS ecosystem. They have also organized a community calendar that aggregates community spaces on X. View their calendar here — 05.15.24

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ENS Domains Joins ETHGlobal’s HackFS for Fifth Anniversary

ENS Domains is participating in the fifth year of ETHGlobal’s HackFS hackathon, offering their support and expertise to participants over the next three weeks. This collaboration celebrates five years of HackFS, which provides over $175,000 in prizes and more than $500,000 in post-event support. With a focus on building the future of Web3, the event will see contributions from over 20 companies and technologies, highlighting ENS Domains’ commitment to fostering innovation and supporting the developer community in the Ethereum ecosystem. — 05.15.24

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:globe_with_meridians: ENS Media Alerts

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:busts_in_silhouette: Community Updates

:speaking_head: Call for Community Feedback

Participate in improving the ENS Ecosystem! Provide feedback on Canny, where members of ENS Labs and Working Group stewards will work to address your submissions. The ENS community can submit feedback in three main categories: Feature Requests, Integrations, and Bug Reports. You can also participate by upvoting or commenting on existing submissions. We’re listening to the community, send your feedback on Canny now.

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:hammer_and_pick: Request for Builders

Share updates on projects developing ENS for consideration for inclusion in the newsletter. Submit contributions and describe at least one nifty feature about your project for potential inclusion in the newsletter. Send your contributions here.

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ENS Weekly Round Up by Limes.eth

Limes.eth released a new edition of the ensroundup.eth series, covering key developments within the ENS Ecosystem. The latest updates include proposals such as the Security Council Proposal and the ENS Steward Vesting Proposal. Additionally, the roundup discusses ongoing litigation between ENS Labs and Unstoppable Domains, the release of a Zora NFT to celebrate ENS’s 7th Anniversary, and new functionalities for issuing ENS subnames through a Farcaster Frame by Namespace. The update also highlights the rebranding of the ETH.LIMO site and highlights ThankArbitrum’s $25,000 matching contribution in quadratic funding for the ENS Identity Round on Gitcoin. — 05.07.24

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ENS Identity Round

The ENS Identity Round on Gitcoin has concluded. The round featured a $125,000 matching pool contributed by the ENS DAO Ecosystem Working Group. A total of $15,682.21 was raised through 3,027 donations, demonstrating strong community support. This funding round highlights the ongoing commitment to enhancing the ENS ecosystem and supporting its development through community-driven initiatives. Matching funds will be distributed shortly. — 05.08.24

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Public Goods Perpetual Bounty Winner: WomenBiz

HiWomenBiz has been announced as the first winner of the inaugural Public Goods Working Group Perpetual Bounty, receiving an award of 5,000 USDC. This recognition, announced by ENS DAO on May 9, is aimed at supporting Web3 and ENS education at their upcoming hackathon. The award highlights HiWomenBiz’s contributions to the community and their commitment to advancing educational initiatives in the blockchain space. — 05.09.24

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Webhash.eth Introduces Decentralized CV Template for .eth, Boxdomains, and 3DNS Websites

Webhash.eth is developing a state-of-the-art decentralized CV template designed for use with .eth, Box Domains, and 3DNS websites. This innovative template aims to revolutionize CV creation by integrating with the decentralized web, offering users a seamless and modern approach to showcasing their professional experiences and skills online. — 05.09.24

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CCIP Postman

Raffy.eth introduced a new tool named ‘ccip postman,’ which serves as a debugger for making direct calls to ccip-read servers. The tool supports various protocols, including ensip10/abi/calldata and raw/ens/tor. It features an interface that allows users to input endpoint details, sender information, and select the desired protocol. Additionally, it provides fields for entering function ABI and parameter values. The ccip postman offers functionality for both ‘Call’ and ‘Calldata’ actions, displaying detailed request data, server responses, signed response data, and ABI decoded responses, making it a comprehensive tool for developers working with these protocols. The tool is available for use through resolverworks.github.io. — 05.13.24

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BrianKnows AI ENS Update

BrianKnowsAI has released a significant update to its API, which now supports the registration and renewal of ENS domains through user prompts. This update also introduces support for the Scroll ZKP network, staking ETH on LidoFinance, and depositing ETH/ERC-20 tokens into DeFi protocols via EnsoFinance. Additionally, it includes parallelization of solvers for swap and bridge functions with EnsoFinance and Lifiprotocol, alongside various improvements and bug fixes. This marks the first major enhancement since the API’s launch two months ago, with further updates to the Brian app expected in the coming weeks. — 05.14.24

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EAS Cohort Showcases ENS

The first cohort of the EAS.eth fellowship concluded with a showcase of innovative projects, including a notable integration with the ENS. Participants, guided by experienced mentors, developed tools such as ownership attestations for ENS domains and functionalities to transfer Gitcoin Passport scores across chains. — 05.14.24

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Namespace.eth Releases Tutorial: Farcaster Frames with ENS Names

Namespace.eth has released an educational demo on how to use Farcaster Frames to issue subnames with ENS names, utilizing the Namespace app. The tutorial aims to guide users through the process of minting subnames, enhancing their understanding and ease of use of the ENS and Farcaster integration. This initiative reflects Namespace’s commitment to providing valuable resources and support to the ENS community, helping users to fully leverage the functionalities of their ENS domains. — 05.14.24

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ENS Subname Minting on Farcaster Frames Now Open-Sourced

ENS Subname minting through Farcaster Frames has been made open-source. This development ensures that every builder can access and utilize the functionality to mint subnames via Farcaster Frames. The repository offers a comprehensive overview of how the Namespace app facilitates this process. This open-source release is a significant step in empowering the ENS community with greater flexibility and tools for managing subnames. More details can be found at GitHub - namespace-frames-public. — 05.16.24

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Standard Crypto Introduces Smart Contracts for Community-Governed Sub-Name Creation

Standard Crypto developed a set of smart contracts aimed at allowing communities to manage the creation and utilization of subnames in a versatile manner. These contracts support both wildcard and non-wildcard resolution, offering a range of commonly requested features. Key use cases include automatic wildcard resolution for token IDs of ERC721 projects, enabling community members to mint and transfer custom sub-names with flexible minting authorization and fees, and community-governed moderation of sub-names. The project respects existing records on the original Resolver for the top-level ENS name, ensuring that community-minted subnames do not override these records.

For more information, review their Github Repository — 05.20.24

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Efficiently Searching Multiple ENS Domains

Shiyas Mohammed, a developer, explains in his blog post how to efficiently resolve multiple ENS domains in a single request using subgraphs on The Graph Network. Traditionally, developers relied on multiple JSON RPC calls to resolve ENS names, which was slow. However, by utilizing The Graph Network, multiple ENS names can now be resolved quickly in a single query due to the competitive nature of multiple indexers. This method enhances the efficiency and speed of querying blockchain data, making it more accessible for developers. — 05.20.24

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:pushpin: Working Group Bulletin

Term 5 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 (2024):

Working Group Time Schedule Location
:balance_scale: Meta-Governance 1pm UTC Tuesday Google Meet
:seedling: Ecosystem 4pm UTC Thursday Google Meet
:high_brightness: Public Goods 5pm UTC Thursday Google Meet

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:balance_scale: Meta-Governance

The Meta-Governance Working Group provides governance oversight and support for working group operations through DAO tooling and governance initiatives.

Meeting Minutes:

Meeting Info:

Term 5 Meta-Governance Stewards:

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Risk Dashboard

Avsa.eth has shared the ENS DAO Risk Dashboard, a tool designed to show the cost of attacking the DAO and how it fluctuates with changes in the ENS token price. The dashboard, accessible via Dune Analytics, aims to enhance the community’s understanding of governance risks. To mitigate these risks, the dashboard suggests increasing the amount of delegated ENS and endorsing the proposal for establishing a Security Council with the authority to cancel malicious proposals. This initiative underscores the proactive measures being taken to safeguard the integrity of the ENS DAO.

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Agora Governance Updates

Agora has outlined four key initiatives currently in progress. These initiatives include the Proposal Lifecycle Management, which aims to simplify the process of drafting, reviewing, and voting on proposals by allowing pooling of ENS tokens and enhancing notification systems. The second initiative is the implementation of a gas relay for free Agora votes, designed to reduce the costs associated with voting. Additionally, Agora is working on visualizing streams for vendors to provide insights into vendor payments and activities. Lastly, a governance upgrade for the re-delegation of Coinbase’s delegated ENS tokens is being developed to facilitate easier delegation processes given the significant amount of tokens held by Coinbase. These efforts reflect Agora’s commitment to improving the efficiency and transparency of the ENS governance system.

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April 2024 Financial Report

The April 2024 financial report for ENS presents a positive financial outlook.

Financial Overview:

  • Revenue > Cash Burn by 2x, Runway: 173 months
  • Revenue $2.7M, vs. $3.2M last month
  • Cash Inflow: $1.4m
  • Normalized Cash Burn: $0.7M, Reserves: $123M (ETH: $108M, USDC: $15M)
  • Total Endowment: $85.2M, P&L: $10.5M (ETH mark-to-market)

Review the full report prepared by @Steakhouse here. — 05.03.24

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April 2024 Endowment Report

The April Endowment report is now available on Karpatkey’s Website. This report provides a detailed overview of the endowment’s finances and allocations. A high-level overview is made available below for reader’s convenience:

Balance Overview:

  • Total funds in the endowment: $90,205,742
  • Capital utilization: 100%
  • Monthly DeFi results: $350,063
  • Annual Percentage Yield (APY): 4.77%

Review the full report prepared by @Karpatkey here. — 05.10.24

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:ballot_box: Voting Period Results — May 2024

[5.7][Social] Security Council

The primary mission of ENS DAO is to govern the protocol and allocate resources in line with its constitution and objectives. However, changing economic dynamics make the DAO vulnerable to attacks aimed at draining its treasury. This proposal seeks approval from the ENS DAO to counter governance attacks by creating a veto role (veto.ensdao.eth), endowed with approximately 3.8 million $ENS delegated from ENS Labs. This role will be controlled by a multisig wallet pertaining to a trusted group to veto proposals that threaten the DAO’s integrity or violate its constitution. It also introduces a CANCEL role, assigned to the same multisig wallet.

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[5.8][Social] ENS Steward Vesting Proposal

This proposal suggests implementing a vesting schedule for $ENS tokens distributed to stewards of all three ENS DAO Working Groups. The proposed vesting will occur over a 24-month period to align steward interests with the DAO’s long-term goals, with provisions for both current and retroactive vesting terms.

  • Vote: Snapshot
  • Results: 58.77% Approval

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:seedling: Ecosystem

The Ecosystem Working Group strengthens the ENS Protocol by facilitating developer relations, identifying and funding high-potential projects that enhance ENS, and bolstering support for ENS-aligned initiatives overall.

Meeting Minutes:

Meeting Info:

Term 5 Ecosystem Stewards:

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Upcoming Events

The Working Group will have a presence at ETHCC in Brussels, Belgium from July 8-11.

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ENSIP Project Discussion

Premm.eth is motioning to formalize the Ethereum Name Service Improvement Proposal (ENSIP) process. This project aims to standardize and provide high-quality documentation for ENS itself and the conventions built upon it. The ENSIP repository, accessible on GitHub, will track past and ongoing improvements to ENS, offering a structured framework and guidelines for proposal submission and editorial processes. Once the formalization is complete, the ENSIP process will transition to the official ENS repository. Premm.eth encourages community members to engage in open discussions about ENSIP during the Ecosystem calls, fostering collaborative development and enhancement of ENS standards.

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Project Highlights

Goverland.xyz

Andrey Scherbovich, representing Goverland.xyz, highlighted a mobile product designed as a DAO information aggregator; the product allows users to view Snapshot votes and connect their wallets using ENS names. It provides a comprehensive summary of DAO-related information, including votes and voters, with ENS names displayed for voter identification. Download the mobile app for iOS and try it out today.

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Service Provider Updates

Wildcard Labs

Wildcard Labs, represented by @stevegachau.eth, recently showcased their latest project, the Superchain Resolver, aimed at managing ENS records on OP-based L2 chains, mainnames, and subdomains. This innovative tool allows users to set records with context and trustlessly on L2. While the front-end UI is still under development, the backend functionalities are already accessible via their GitHub repository. The team is actively integrating plugins such as Avatarsync and ENS redirect, working on a unified Superchain Resolver, updating Optimames, and preparing for fault-proof breaking changes. Their progress can be tracked through Etherscan and detailed presentation documents.

Unruggable Labs

Unruggable Labs announced several key updates. The team welcomed Raffy as a new member and is currently working on multi-target support, enabling data fetching from various contracts. The original version for Arbitrum introduced a framework for constructing generic CCIP-Read gateways targeting different EVM-compatible chains. This repository facilitates the verification of multiple storage slots, excluding only the L2-specific logic. They are also developing version 2 and preparing a comprehensive write-up detailing the architectural structure to meet the evolving requirements of ENS. The project can be tracked via their GitHub repository.

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:sunny: Public Goods

The Public Goods Working Group supports the greater Ethereum ecosystem by identfying and funding open-source development.

Meeting Minutes:

Meeting Info:

Term 5 Public Goods Stewards:

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Large Grants Presentation: Rotki

Yabir Garcia from Rotki presented updates on their project, which received a grant from the ENS DAO Public Goods Working Group. Rotki, an open-source portfolio tracker, accounting, and analytics tool, emphasizes user privacy. The grant has enabled the development of a feature to track ENS renewals through a calendar tab within the app. Additionally, Rotki has added support for Scroll while maintaining its open-source nature. The project, which offers premium features, aims to grow gradually, ensuring the development of a robust and user-focused product. Their progress and codebase are available on GitHub.

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:memo: Resources

ENS DAO offers several resources for understanding and participating in its ecosystem.

  • ENS DAO Basics: Details the ENS DAO, including voting and governance.
  • Support Docs: Provides guidance on registration, renewals, and development aspects.
  • Governance Docs: Offers additional insights into governance structure.
  • ENS Agora: Governance hub for proposal review and voting.
  • Give Feedback: Feedback platform where users share input to improve ENS.
  • ENS Repository: The ENS Protocol’s main Github Repository.

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