ENS DAO Newsletter #73 — 11/5/24

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ENS DAO Newsletter #73 - 11/05/2024

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:sunny: Welcome

:newspaper: Newsletter Roundup

  • ENS Labs: frENSday Speakers, ENSv2 Funding Proposal
  • Community: Curated Tools, gon.id, Uniswap hits 1m
  • Meta-Gov: Special Election, Voting Period
  • Ecosystem: Gitcoin Round, Service Provider Updates
  • Public Goods: Grantee Updates

:date: Calendar

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

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:classical_building: Term 5 Proposals

October Executble Proposals

  1. [5.22] ENSv2 Development Funding Request
    This proposal seeks to secure increased funding for ENS Labs to develop, maintain, and audit ENSv2, a major upgrade designed to enhance decentralization, scalability, and flexibility by integrating Layer 2 solutions and a redesigned protocol, enabling ENS to better support Ethereum’s evolving rollup-centric infrastructure.

  2. [5.23] Governance Security Bounty
    This proposal requests compensation for the blockful team for their critical role in identifying and mitigating a $150M vulnerability in ENS DAO’s governance, leading to the establishment of a Security Council that strengthens ENS DAO’s resilience, with payment structured as $100k USDC and 15k vested ENS tokens over two years to ensure sustained commitment to ENS security.

  3. [5.24] Term 5 Q4, Collective Working Group Funding Proposal
    This proposal approves and executes the funding requests for the October 2024 funding window, allocating USDC funds to the Meta-governance, Ecosystem, and Public Goods Working Groups to ensure continuity of operations and maintain prudent reserves until the next funding window in April 2025.

Special note: The proposal is being submitted following the acknowledgment of a clerical error. A new proposal with a verbatim specification, EP.25 has been submitted to the ballot in its place.

Term 5 - Special Election

Voting is now open to fill a Meta-Governance steward vacancy following Alex Van de Sande’s resignation. The candidates are:

  1. Nick.eth
  2. SpikeWatanabe.eth

Full nomination details are available on the forum. Please review each nomination statement before casting your vote.

About Proposals

Proposals are the means by which changes are made to the status quo. There are two types of proposals:

  1. Social Proposals: Offchain proposals seeking the DAO’s agreement on social considerations that cannot be enforced onchain.
  2. Executable Proposals: Onchain proposals that execute code related to the ENS Protocol and ENS DAO smart contracts, as voted on by the DAO.

Proposal Threshold: A minimum of 10k $ENS is required to submit social proposals, while 100k $ENS is needed for executable proposals.

Resources

Stay updated on DAO governance and proposals by regularly checking the Term 5 Dashboard and the Voting Period Bulletin. For detailed governance information, refer to our Governance Docs. To see real-time voting power distribution, visit votingpower.xyz.

:cyclone: ENS Labs Updates

frENSday at Devcon

The much-anticipated frENSday at Devcon is almost here—attendees can look forward to insights from top Web3 figures, including representatives from the Ethereum Foundation, Google, Venmo/PayPal, Base, and more (full line up available here).

Tickets with unique QR codes are essential for check-in; retrieve or release yours if needed. Virtual attendance is also available. See you soon in Bangkok!

ENS Partners with POAP for frENSDay at Devcon in Bangkok

ENS announced an official partnership with POAP for #frENSDay at Devcon in Bangkok, Thailand. This collaboration aligns with frENSDay’s mission to celebrate innovation and unity among frENS in the Web3 space. Attendees are encouraged to join in and collect a unique piece of Web3 history.

Jesse Pollak to Speak at frENSDay

ENS is excited to announce Jesse Pollak, creator of Base, as a speaker at frENSDay on November 11, 2024, in Bangkok, Thailand. With a wealth of insights and a commitment to supporting the builder community, Jesse embodies the spirit of innovation in the Ethereum ecosystem.

ENS to Launch frENSDay Communication on Converse at Devcon

ENS announced a collaboration with XMTP and Converse, an Ethereum-based messaging app, for frENSDay at Devcon. Attendees can look forward to secure, seamless communication within the app, including group chats, DMs, and exclusive event insights. This integration aims to foster real-time connections among participants, enhancing the Devcon experience.

frENSday Lightning Talk Applications

ENS invites builders to participate in frENsday 2024, hosting lightning talks in Bangkok. Applicants have an opportunity to present their latest ENS-related projects in a 10-minute slot (3-5 minutes for the talk, followed by Q&A). These talks will be recorded and potentially shared on ENS’s social platforms. Apply Here.

:globe_with_meridians: ENS Media Alerts

:busts_in_silhouette: Community Updates

:speaking_head: Call for Community Feedback

Help improve the ENS ecosystem by providing feedback on Canny, where ENS Labs members and Working Group stewards will address your submissions. You can submit Feature Requests, Integrations, Bug Reports, or upvote and comment on existing posts. Share your feedback on Canny here.

Newsletter Contributions

Submissions for the ENS newsletter are open! Share updates on projects, events, achievements, or community changes for inclusion. Submit your segment by visiting the Newsletter ddocs site here and leaving a comment.

Curated ENS Tools by mely.eth

mely.eth has curated a collection of useful ENS tools designed to support the ENS community. These tools span a variety of functionalities, from managing ENS names to creating decentralized websites and social connections, helping users enhance their experience in the Ethereum ecosystem.

  • ETH Tools: Offers ENS & Ethereum utilities, including hash generators and bulk tools.
  • Vision: Marketplace for ENS with profile management and subname launch pad.
  • EFP (Ethereum Follow Protocol): Onchain social graph using ENS profiles for decentralized connections.
  • Webhash: Decentralized, no-code website builder linked to ENS domains.
  • NameStone: Gasless ENS subname provider with API integration and admin tools.
  • ETH Limo: Enables decentralized website hosting on ENS by adding .link or .limo.
  • Converse: Decentralized messaging app using ENS, works across web3 platforms.
  • 3DNS: Tokenize web2 domains to work as ENS & DNS onchain.
  • Wannabet: Platform for creating onchain bets with ENS users.
  • Namespace: User-friendly ENS subname management for individuals and communities.
  • ETH CD: Social network for ENS names, showcasing onchain information about profiles.
  • Namefi: Tokenize DNS names for crypto payments and ENS compatibility.
  • Dentity: Verification service adding proof of personhood to ENS profiles.
  • ENS Book: Tool for managing and tracking ENS names, with status and link info.

Unicorn.eth Announces Partnership with ETHDenver

Unicorn.eth, a leading Web3 membership platform, announced its partnership with ETHDenver as the event’s official infrastructure provider. Offering secure, user-friendly tools like single-sign-on smart wallets and branded subdomains, unicorn.eth will empower Every ETHDenver attendee with a safe wallet powered by ENS and Namespace.

Safe Wallet Goes Multichain: Gasless, Unified, and ENS-Compatible

Safe has launched a multichain feature, allowing users to deploy the same wallet address across 15+ networks with no gas fees on major Layer 2s. This simplifies multichain management with one-click deployments, unified tracking, and seamless network switching. Eric Kuhn highlighted that ENS names are now compatible, enabling users to maintain a consistent identity across chains.

Dynamic.xyz Unveils Global Identities for Cross-Platform Consistency

Dynamic.xyz introduces Global Identities, a feature that provides users with a consistent identity across multiple platforms and dApps. This innovation allows users to establish a singular profile and reputation that travels seamlessly with them in the Web3 ecosystem, reducing friction and enhancing user experience in decentralized spaces. With this release, Dynamic.xyz aims to empower users to manage their digital presence across chains and platforms more effortlessly than ever.

NameStone Launches gon.id for Digital Identities on Polygon

NameStone introduces gon.id, a platform offering limitless digital identities on Polygon. Users can start with 7 free mints for names with 5+ characters. Notably, 30% of revenue will support ENS DAO, promoting community growth. Built in collaboration with ENS Domains and Polygon, gon.id aims to provide users with versatile identity solutions in Web3.

BrianknowsAI Integrates ENS Subdomain Resolution

BrianknowsAI API and app now support ENS subdomain resolution, enabling users to send and receive assets by specifying subdomains like “frank.base.eth” directly in prompts. This update simplifies onchain transactions and enhances user experience by making digital identities more accessible. Future updates will enable write operations, such as registration and renewal, supporting even more robust identity management in the Web3 space.

Power Agents: ENS-Backed AI Agents for Seamless Blockchain Transactions

Power Agents, developed at ETHGlobal SF, allows users to create and manage AI agents with unique ENS subdomains (e.g., agentname.poweragents.eth) via XMTP messaging. Each agent has its own wallet and uses the Coinbase SDK and BrianknowsAI API to execute blockchain transactions on command. Users interact in natural language, instructing agents to handle tasks like bridging, transfers, and recurring payments, with updates provided in real-time. This innovation simplifies the crypto experience by making complex transactions accessible through familiar messaging interfaces.

Uniswap Hits 1 Million uni.eth Usernames Milestone

Uniswap Labs celebrates surpassing 1 million uni.eth usernames. Users can now claim their personalized uni.eth address via the Uniswap Extension, simplifying crypto transactions with a unique identifier. The username “unicornintern.uni.eth” is already taken, showcasing the growing popularity of Uniswap’s identity layer.

EFrogs Integrates ENS Subdomains for Seamless Transactions on MetaMask

EFrogs NFT community members can now use their efrogs.eth ENS subdomain to send and receive crypto and NFTs via MetaMask, offering a simpler alternative to traditional wallet addresses. This integration, supported by LineaBuild and MetaMask, positions EFrogs as an innovative NFT community across Ethereum and Layer 2s.

Trustless Crosschain ENS Solution by adraffy.eth

adraffy.eth introduces a proof-of-concept for a trustless crosschain ENS solution, showcased in the ENS-Link GitHub repository. Powered by unruggable.eth, this approach enables logic to be lifted from Layer 2 to Layer 1 and executed within a provable VM. The demo implements a rented NFT that becomes inaccessible post-expiration, leveraging a crosschain rental bytecode for time-based NFT validity. This breakthrough could pave the way for secure, decentralized ENS rentals across multiple chains.

3NUMLabs Introduces Speak3z.ID ENS-Powered Usernames

3NUMLabs now offers a namespace for users, powered by ENS, through their Speak3Z client. Speak3z.ID usernames are available to all Speak3Z users, providing a standardized, ENS-backed identity solution for streamlined communication. This integration reinforces ENS as the standard for decentralized usernames, enabling a consistent digital identity across platforms.

:pushpin: Working Group Bulletin

Term 5 Lead Working Group Stewards + Secretary Appointment

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 2pm UTC Tuesday Google Meet
:seedling: Ecosystem 5pm UTC Thursday Google Meet
:sunny: Public Goods 6pm UTC Thursday Google Meet

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:bar_chart: ENS Q3 2024 Revenue Summary

In Q3 2024, ENS generated $6.3M in total revenue:

  • $4.72M from registration fees,
  • $838k from temporary premium fees,
  • $738k from DeFi returns on the ENS endowment.

Year-to-date revenue stands at $22.6M, driven by registration, premium fees, and DeFi yields. For more details, read the full report.

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:chart_with_upwards_trend: ENS Q3 2024 Working Group Spend Report

In Q3 2024, ENS Working Groups collectively spent approximately $501k.

  1. The Ecosystem Group allocated 197,707 USDC and 6 ETH, covering initiatives like bug bounties, grants, events, and services.
  2. Meta-Governance spent 151,300 USDC, focusing on compensation, DAO tooling, and events.
  3. Public Goods dedicated 136,999 USDC to grants, including ETH Mexico and various projects, along with event sponsorships. Full balance details are viewable at enswallets.xyz.

For more details, read the full report.

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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:

Term 5 Meta-Governance Stewards:

Summary of Ranked-Choice Voting in ENS Governance Pilot

Avsa.eth prepared an analysis of EP5.19. The analysis reveals insights into how ranked-choice voting affects decision-making. Despite a tight race between budget options, the Medium (60k ENS) budget emerged as the favored outcome. This evaluation demonstrates the nuances of ranked-choice methods, addressing vote-splitting and advocating for transparency. Findings emphasize Round Robin as a preferred alternative, enhancing decision alignment with community preferences and potentially improving future governance practices in ENS.

Meta-Governance Special Election

Following the resignation of Alex Van de Sande (avsa.eth) as Meta-Governance steward, ENS has launched a special election to fill the vacancy. Nominations run from Nov 2-5, with voting from Nov 5-10. The elected steward will start on Nov 11, serving until Dec 31. Candidates must gather 10,000 Snapshot votes to be eligible. Read the forum post for more information.

September 2024 Financial Report

Financial Overview:

  • Revenue > Cash Burn, Runway: 157 months
  • Revenue: $1.6M (vs. $1.9m last month)
  • Cash Inflow: $.8M (vs. $1M last month)
  • Normalized Cash Burn: $0.7M
  • Reserves: $117M (ETH: 105M, USDC: 12M)
  • Total Endowment: $82.5M
  • P&L: 2.3M (ETH mark-to-market)

Review the full report prepared by @Steakhouse here.

September 2024 Endowment Report

Balance Overview:

  • Total funds in the endowment: $81.7m
  • Capital utilization: 100%
  • Monthly DeFi results: $216,758

Review the full report prepared by @Karpatkey here.

:seedling: Ecosystem

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

Meeting Minutes:

Term 5 Ecosystem Stewards:

Gitcoin Grants Round 22: ENS Ecosystem

The ENS Ecosystem Working Group is participating in Gitcoin Grants Round 22 with a 70k USDC matching pool. This round supports projects building on ENS, using Gitcoin’s quadratic funding model, which rewards both the total amount raised and the number of contributors.

  • Donation Period: 2024/10/23 12:00 UTC - 2024/11/06 23:59 UTC
  • Chain: Arbitrum
  • Eligible Projects: Must be building on ENS

Donate Here

Multi-delegate Manager Update

A new contract scheme will enable proxy NFTs to simulate voting, allowing split delegation within a single transaction, making governance more dynamic and accessible. Code is complete and in final testing phases. The goal is to release this feature soon to simplify participation in ENS governance.

Feedback Request: ENSIP Supersession

In a recent forum post, clowes.eth sought feedback on the ENSIP supersession of resolver implementations and client integrations. They detail challenges in achieving compatibility across ENSIPs, highlighting specific inconsistencies and ambiguities in client implementation guidance. Clowes.eth suggests clearer notices on superseded standards and an ideal process for client-side discovery and precedence handling to enhance ENSIP clarity.

Service Provider Updates

  1. Unruggable Labs
    Unruggable is preparing to audit its gateway by year-end, enabling trustless data resolution from L2 chains with proof verification on L1. This includes multichain middleware and primary name resolution across networks. A partnership with ENS Labs now allows setting primary names directly on any L2. Documentation is available at Unruggable Docs.

  2. NameStone
    NameStone is collaborating with Dynamic to expand ENS integration, targeting both Web3 and Web2 companies. They’re also working with Polygon to let users create ENS subnames on the Polygon POS network, allowing address resolution in MetaMask and distinguishing ETH Mainnet from Polygon. More details at NameStone Docs.

  3. NameSpace
    NameSpace provides a solution for issuing ENS subnames for diverse user groups. It supports Base subdomains, recently added Optimism, and is developing a new front-end application. Interested users can join their Telegram group to test the SDK.

  4. Blockful
    Blockful invites community feedback on its latest service provider reports, including the Q3 report, to improve service quality and alignment with community needs. Check the report for more insights and share feedback.

Project Highlights

  1. Webhash
    Webhash has launched its premium plans, reaching a milestone with 124 paid users, showing strong user interest and potential for sustainable revenue. The team continues enhancing features to drive further user engagement.

  2. eth.cd
    Eth.cd introduced in-app messaging with XMTP, allowing seamless communication on the platform. Users can set notification preferences for specific contacts to minimize spam, improving the user experience and efficiency of communication.

  3. web3.bio
    Web3.bio is an open-source project making ENS data accessible for public use. The platform supports rich exploration of ENS-linked social activity through an intuitive search interface. The API processes ~3 million requests monthly, with plans for batch profile queries and customizable profile widgets. Web3.bio is participating in the Gitcoin Grant round and welcomes community support. Meet Web3bio at Devcon to discuss more.

  4. filmfundeth.com
    FilmFundEth is developing an IMDB-style platform for crypto-focused films, aiming to change the negative perception of crypto. Users can review and rate crypto-related movies, TV shows, and documentaries. The platform will also invite young filmmakers to submit scripts highlighting crypto’s positive impacts. They discussed implementing ENS-based logins to enhance user identity and security.

Bi-Weekly ENSIP Update

  • ENSIP GitHub Repository: The ENSIP proposals are hosted on GitHub, providing a centralized place for contributions and discussions. You can access it here: ENS Improvement Proposals.
  • ENSIP0 Focus: The team is currently focusing on ENSIP0, which aims to standardize the process for contributing to ENSIPs. This includes setting guidelines for editors and defining their responsibilities to ensure a consistent approach to proposal development. More details are available in the ENSIP0 document.
  • Chain Coin Type Priority List: Work is ongoing to prioritize coin types for onchain integration, ensuring that supported assets align with community needs and technical standards.
  • Community Involvement: The team encourages feedback and community engagement. Those interested in contributing or providing feedback are invited to reach out to Premm.eth on X.
  • Upcoming ENSIP Meetup: An ENSIP meetup is scheduled to take place at Devcon, where contributors and community members can discuss ongoing projects and future ENSIP developments.

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:sunny: Public Goods

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

Meeting Minutes:

Term 5 Public Goods Stewards:

Grantee Updates

  1. Scaffold ETH
    Scaffold ETH has advanced Ethereum development tooling by creating an EIP5792-compliant extension for Coinbase Smart Wallet and testing one for Foundry. A tutorial video is available here, with more updates to come during frENSDay. View their GitHub for technical details: scaffold-eth/create-eth-extensions.

  2. ETHMexico
    ETHMexico saw strong global interest, with about 85% of attendees traveling to the event. Access the full event report here and watch the Public Goods Stewards session on YouTube.

  3. Borderless Africa Updates by Yoseph Ayele
    Borderless Africa is establishing a coordination layer to foster onchain development across Africa. The Magma Residency program brought together 24 founders and builders, divided into advanced, early-stage, and research groups. A final report will follow. Most Magma community members are attending Devcon with scholarship support. GM Day, held with Pagoda, boosted regional Ethereum contributions. Looking ahead, Magma will host biannual cohorts, with the next in April 2025, along with bi-weekly feedback sessions and regular podcasts sharing personal stories and project impacts.

:green_book: Resources

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

Thank you for reading! Goodbye. :wave:

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