ENS yearly rent: what should be done with the funds?

This is a public thread to discuss what should be done with ETH raised from ENS yearly rent (which starts May 4th).

Here’s a blog post with our proposal: What Will ENS Do With All That Rent Money? Here’s What You Need to Know

Please read our blog post before joining the discussion in this thread, but then we want to hear from you!

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I’m a big fan of, “whatever the key holders want”. If I believe the service is worth $5, I will pay it regardless of what the person getting paid plans to do with the money.

That being said, my ENS name becomes more useful the more people use it and the more tooling is available, so I would gain confidence in the system if the money went to rewarding those who enhance/market/grow the system.

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If I’ve understood the arrangement correctly the key holders have the technical ability to block renewals (although a domain holder who sees this coming can lock in their domain for a long time to avoid the need for renew).

Accordingly I’d suggest the first few million dollars go into a legal contingency fund sufficient to defend the key holders against an angry swarm of midget sucker trademark lawyers.