ENS DAO Newsletter #74 — 11/19/24

DAO-Wide Newsletter
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ENS DAO Newsletter #74 - 11/19/2024

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:sunny: Welcome

:newspaper: Newsletter Roundup

  • ENS Labs: Namechain, ENS Keynote, ETHGlobal
  • Community: Durin, Dentity, Virgil Griffith updates
  • Meta-Gov: Election results, Endowment Report, Calldata verification
  • Ecosystem: ENSIP updates, Gitcoin Round
  • Public Goods: Builder Grants, Urbe Campus

:date: Calendar

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

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:classical_building: Term 5 Proposals

November Executble Proposals

  1. [5.25] [Executable] Collective Working Group Funding Request
    This is a resubmission of [EP 5.24], with no changes to the funding amounts or technical specifications.

    • Vote: Pending
    • Disucssion: Open

  2. [5.26] [Executable] Implementation of ENS Governance Distribution Pilot Program
    This executable proposal implements the Governance Distribution Pilot Program approved in EP 5.19. Following the community’s selection of the 30k ENS distribution option, this proposal authorizes the transfer of ENS tokens from the treasury to implement the program.

    • Vote: Pending
    • Discussion: Open

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

Namechain Announcement

Namechain by is a purpose-built Layer 2 solution, marking the next evolution in ENS as part of the ENSv2 initiative.

Announced during frensday, Namechain promises to significantly reduce costs, enhance performance, and maintain a familiar Ethereum developer experience.

Watch the entire stream here.

ENS Developer Updates by Gregskril.eth

Gregskril.eth shares key updates from frENSDay on upcoming ENS developments:

  • L2 Primary Names: Now available on testnet, with mainnet launch coming soon.
  • Flexible Smart Contracts: Enhanced contracts expected in ENSv2.
  • Namechain Preview: Insights into building on Namechain.

Catch the full update video from Gregskril.eth here.

ENS Keynote Highlights at Devcon by Jefflau.eth

At Devcon, Jefflau.eth presented a comprehensive Year in Review for ENS, sharing notable milestones and advancements:

  • Major Milestones:

    • Over 13 million ENS names registered.
    • Gasless DNSSEC for enhanced security.
    • GoDaddy’s one-click ENS integration for any DNS.
    • Google now recognizes .eth in search results.
    • PayPal & Venmo ENS integrations.
    • Growing support from service providers like EFP and Namestone.

  • Technical Advancements:

    • Namechain: A Layer 2 solution designed to improve speed and cost-effectiveness.
    • ENSv2: A complete rewrite introducing simplified name migration, record sharing, and logic passthrough.
    • Primary Names on L2: Enabling scalable primary name functions on Layer 2.

The ENS team expresses gratitude to the community for seven years of growth and looks forward to future innovations.

Read more about the keynote and progress here.

ENS Partners with POAP Studio for frENSDay in Bangkok

ENS announced an official partnership with POAP Studio for frENSDay in Bangkok, Thailand. POAP turns shared web3 experiences into digital collectibles, fostering connections and preserving memories within the community.

ENS Labs Transparency Initiative

ENS Labs commits to quarterly transparency reports on ENSv2 development, covering financials and technical progress, starting Q1 2025. Reports will detail budget usage, milestone achievements, and timeline adjustments, supporting community trust and showcasing advances in ENS protocol evolution.

Hybrid ENS Resolver by Gregskril.eth

Gregskril.eth explores Solidity by creating a hybrid ENS resolver that stores critical data onchain and falls back to an offdchain database for non-critical records. This design enables free updates for less essential information, showcasing the flexibility of ENS resolvers.

Inspired by Namestone’s ENSPro app, this hybrid setup offers an innovative approach to managing ENS records. The contract is available here, inviting community feedback and ideas.

ENS Sponsors Prizes at ETHGlobal Hackathon in Bangkok

ENS Labs sponsored $10,000 USD in prizes to encourage innovation and development on ENS during ETHGlobal’s Hackathon in Bangkok, empowering participants to advance decentralized naming on the new internet.

ENS Partners with Gaia to Empower AI Agents with Onchain Identity

ENS announced its collaboration with Gaia to integrate ENS into Gaia’s protocol, enhancing decentralized agents with secure onchain identities. This partnership brings Gaia Domain Names to life, utilizing ENS’s infrastructure to streamline AI agent identity management and promote decentralized innovation.

:globe_with_meridians: ENS Media Alerts

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: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.

ENS Scaling with Namechain: Updates by Liam

Liam (@daddysether) provided insights into ENS’s ambitious journey to scale through its new Layer 2 solution, Namechain. ENS, one of Ethereum’s most widely adopted applications, aims to bring decentralized naming to billions worldwide by building on zkEVM infrastructure.

Key Highlights:

  • zkEVM Focus: Namechain will leverage zkEVM, prioritizing open-source and secure scalability.
  • Roadmap Breakdown:
    • Phase 1: Transition ENSv1 to ENSv2 with seamless L2 connectivity.
    • Phase 2: Develop new smart contracts for enhanced user experience.
    • Phase 3: Deploy with an established sequencer and prover network.
    • Phase 4: Implement registries, resolvers, and data synchronization on L2.
    • Phase 5: Begin registrations and renewals on Namechain.

Unique Features:

  • L2-L2 Bridging: Ensures interoperability across Ethereum’s Layer 2 ecosystem, allowing users to pay for ENS names on any existing L2.

For a deeper look at ENS’s scaling roadmap, check out Liam’s full thread here.

Slobo.eth Announces Durin: A Streamlined Solution for ENS L2 Subnames

Slobo.eth introduced Durin, an opinionated approach to managing ENS subnames on Layer 2 chains. Durin automates routine tasks, allowing developers to focus on innovative features.

What Durin Does:

  • Provides a frontend for deploying and configuring ENS registries: durin.dev
  • Offers open-source deployment scripts and registrar templates: GitHub
  • Enables ENS name resolution with a default gateway.

Supported Chains:
Scroll, Linea, Arbitrum, Optimism, and Base.

Durin simplifies registry management and lowers the barrier to entry for developers working with ENS subnames on Layer 2 networks.

Blockful & Unruggable Community Run in Bangkok Wrap-up

Blockful and Unruggable hosted a community run on November 13 in Bangkok, starting at Palmer & Turner Restaurant. Participants, whether seasoned runners or beginners, joined for an early morning jog through scenic streets, fostering good vibes. They ended the event with thanks to those who attended or greeted them at Devcon and frENSday.

Dentity ENS Library

Dentity introduces the ENS Library, a resource aimed at enhancing the understanding and utility of ENS for developers and users. Through guides, best practices, and insights, the ENS Library seeks to make ENS more accessible and practical, promoting widespread adoption of decentralized naming.

Explore more at Dentity ENS Library.

Exploring Trustless L2 Data Reads: ERC-3668 in Action

ENS, Unruggable, and Linea teams demonstrated ERC-3668 (CCIP-read) usage, enabling trustless L2 data reads from L1 with specific examples. Attendees explored mechanisms and security aspects of this interaction in a practical workshop.

Session details

Update on Virgil’s Release by Alexander Urbelis

ENS Labs general counsel Alexander Urbelis provided an update on Virgil’s situation, confirming his anticipated release in April 2025. With family support and legal efforts, there is hope for an earlier release, though April is the latest expected. Virgil is eligible for a halfway house but faces delays due to Baltimore’s oversubscribed facilities. His family’s relocation to the mid-Atlantic area makes Baltimore ideal, but limited availability complicates his transition.

ENS DAO at Devcon 2024: Highlights and Key Takeaways

The ENS DAO was prominently featured at Devcon 2024 in Bangkok, Thailand. Stewards, delegates, and contributors shared insights, innovations, and exciting updates about the ENS ecosystem. From new tools and frameworks to discussions on governance and collaboration, here’s a summary of the key highlights:

  1. DAO Resilience and Longevity

    • Lead Working Group stewards discussed insights to strengthen ENS DAO’s resilience, focusing on strategies for sustainability and long-term direction.

  2. Lightning Talks by ENS Builders

    • DAO Secretary @Limes hosted lightning talks featuring contributions from service providers, grantees, and builders across the ENS ecosystem.

  3. Financial Goals and Treasury Management

    • Jy from @karpatkey shared how ENS leverages risk-averse on-chain treasury management to ensure financial sustainability.

  4. Bridging the Verified Web

    • @Premm.eth introduced Unruggable, a solution to connect Layer 2 ENS names using proofs, advancing accessibility and verification in the ecosystem.

  5. Enhancing Domain Management

    • @alextnetto.eth from Blockful presented wildcard writing standards for efficient offchain ENS domain record management.

  6. Public Goods Grants Platform

    • Shivbhonde.eth unveiled ENS DAO’s new Public Goods Grants platform, simplifying funding for impactful community projects.

  7. Onchain Social Graphs

    • @brantlymillegan showcased the Ethereum Follow Protocol (EFP), a decentralized protocol for onchain social connectivity and identity.

  8. Privacy on Public Chains

    • Moritz.fkey.eth demonstrated Fluidkey’s user-friendly privacy tool, providing secure identity solutions on public chains with ENS integration.

  9. Unified Identity Frameworks

    • @estmcmxci highlighted the P256 Precompile’s potential to create robust identity frameworks and combat digital fragmentation.

  10. DAOs and Regulatory Alignment

    • @lefterisjp explored how DAOs align with decentralization principles and addressed potential regulatory challenges.

  11. Open-Source Wallet Innovation

    • @ricmoo presented the Firefly Pocket, an open-source Ethereum wallet supported by ENS DAO’s public goods funding.

  12. Supporting Global Innovation

    • @James discussed how ENS DAO fosters global innovation, touching on cryptoeconomics, investment trends, and impactful project funding.

  13. Degens and Regens Collaboration

    • @Griff led a panel exploring how Degens and Regens can collaborate to unlock their collective potential.

  14. Cultivating Ethereum’s Culture

    • @simona_pop , alongside Aya Miyaguchi and Songyi Lee, emphasized the importance of preserving Ethereum’s unique cultural identity through collaborative efforts.

This recap highlights the depth and breadth of ENS DAO’s contributions at Devcon 2024, showcasing its role in shaping the Ethereum ecosystem’s future.

: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 1pm 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:

Calldata Verification Summaries

[EP 5.25] Collective Working Group Funding Request (Oct 2024) - Resubmission

The calldata security verification for EP 5.25 confirmed that calldata matched the proposal’s expected description regarding USDC and ENS transfer operations. This process involved simulating the proposal’s lifecycle—proposing, passing, executing, and verifying state changes post-transfer. Testing guidance was provided, allowing developers to validate calldata alignment with proposal objectives on-chain. The final step confirmed that on-chain calldata would reflect the tested state accurately, giving approval for on-chain submission.

[EP 5.26] Implementation of [EP 5.19]'s ENS Governance Distribution Pilot Program

The calldata verification for EP 5.26 focused on transferring 30,000 ENS tokens from the DAO treasury to the Meta-gov WG wallet. The simulation and testing verified that the proposal’s description was matched accurately in the calldata. The verification process included proposing, passing, and executing the operations, ensuring the end-state aligned with the intended ENS transfer. Testing steps were provided for developers to confirm the on-chain calldata consistency.

Meta-Governance Special Election

Following the resignation of Alex Van de Sande, a special election was held to fill the Meta-Governance steward vacancy. The candidates were:

  1. Nick.eth
  2. SpikeWatanabe.eth

After the community vote, Nick.eth emerged as the elected steward. He will now serve as the new Meta-Governance steward for the remainder of Term 5.

October 2024 Endowment Report

Balance Overview:

  • Total funds in the endowment: $80m
  • Capital utilization: 100%
  • Monthly DeFi results: $261k

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:

Bi-Weekly ENSIP Update

An ENSIP meetup was held on the final day of Devcon. The ENSIP GitHub repository continued to focus on ENSIP0, with an emphasis on formalizing standards for contributors and specifying editor responsibilities. Efforts were made to establish a priority list for onchain coin types. Considerations are underway for approaching Labs to formalize a process that includes assigning administrative permissions to nominated ENSIP editors. Feedback and involvement were encouraged, with contact available via X at @nxt3d.

Gitcoin Round Completion Summary

The Gitcoin round successfully met its $10k donation goal, attracting 2,000 unique contributors. Funds are scheduled for payout after Devcon. The round operated smoothly, demonstrating notable improvements over previous rounds.

:sunny: Public Goods

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

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Term 5 Public Goods Stewards:

ENS Public Goods Builder Grants Announcement

The Public Goods Working Group introduced an open-source grants manager for all ecosystems, co-created with BuidlGuidl to support public goods and their builders. This initiative invites communities to join in funding and empowering the future of open-source projects. Builder Grants Site.

Public Goods Working Group Support at Urbe Campus

At Devcon, Vegaypatino from ENS DAO presented a compelling talk on the significance of public goods for the Web3 ecosystem. This Urbe Campus session, supported by the ENS DAO Public Goods Grant, highlighted the ongoing commitment to empowering open-source initiatives in Web3. More about the event.

: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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