[EP 5.22] ENSv2 Development Funding Request

Expanding to L2 is required to scale ENS.

ENS Labs has demonstrated that resources allocated to them produce results.

  • Premier integrations
  • 20 million offchain
  • 2 million onchain

At this point top tier projects are asking how to work with ENS instead of why. It is self-evident.

ENS has a treasury of $100m+ and annualized revenue of $30m. With that context, the $5m/year incremental ask is relatively modest.

Launching an L2 is expensive. As more projects enter the space, service providers supporting L2s are able to charge a premium. Due to confidentiality in many agreements, the exact costs are often undisclosed. However, one reference points to a reported cost of $5-10 million.

ENS is different from other projects. Most projects can exist in isolation on the L2 they create. ENS works best when it works everywhere, including with legacy systems. That complexity is easy to mention but should not be underestimated.

This is a massive undertaking but I have full confidence in ENS Labs to deliver.

I support this ask.

9 Likes