[EP1] [Social] Proposal: Transfer ENS Treasury and Contract Ownership

DAO-Wide Archived Proposals
61

I’m supportive of the proposal, thank you for pulling this together.

The only question I had was what were the “response time” differences between the DAO and multi-sig in the event of a downstream compromise (e.g. Chainlink feed failure). Thanks!

p.s. unfortunately, I’m also away from my signing key, so won’t be able to vote within the window. Will resolve this ASAP.

62

I really appreciate all the lively discussion and questions. I think that bodes well for this DAO. I know that some people think it’s too soon for some of these proposals and while it may be, I think the best way to learn the best is by doing.

It is also a lot of responsibility, but that’s the great part about Web 3.0 code is contract and it’s all about creating trustless decentralized systems.

I’m part of the Bankless DAO and often it feels like we’re building a bus while driving down the highway at 65 mph. We’re forging new paths here so it’s going to be challenging and we’re going to make mistakes and that’s okay. We just keep talking and discussing and I think we’ll do just fine.

63

All four measures passed! Below is a copy of the email I just sent the multisig keyholders.

Hi Keyholders,

The day has arrived! You have probably noticed that the new ENS DAO just voted overwhelmingly to request the transfer of a set of key powers from the ENS multisig to the DAO:

  1. Transfer all ETH and USDC held by multisig.ens.eth to the DAO’s timelock contract at wallet.ensdao.eth.
  2. Call transferOwnership on the contracts at controller.ens.eth and 0xb9d374d0fe3d8341155663fae31b7beae0ae233a (the price oracle), passing in the address of wallet.ensdao.eth.
  3. Call transferOwnership on the contract at registrar.ens.eth, passing in the address of wallet.ensdao.eth.
  4. Call setSubnodeOwner on the root, passing in keccak256(‘reverse’) and the address of wallet.ensdao.eth.

Accordingly, I have submitted multisig transaction 27 for your approval. This is a multi-call with 6 actions:

  1. Transfer 4369.256902770582850334 ETH to wallet.ensdao.eth (0xFe89cc7aBB2C4183683ab71653C4cdc9B02D44b7) as per #1 above.
  2. Transfer 10,318,098.311236 USDC to wallet.ensdao.eth as per #1 above.
  3. Call transferOwnership(wallet.ensdao.eth) on controller.ens.eth (0x283Af0B28c62C092C9727F1Ee09c02CA627EB7F5), as per #2 above.
  4. Call transferOwnership(wallet.ensdao.eth) on 0x63FaF46Dadc9676745836289404B39136622B821 as per #2 above. This is the current price oracle address; note it differs from the address above, as the proposal mistakenly cited the original (Maker-based) price oracle, not the current one.
  5. Call transferOwnership(wallet.ensdao.eth) on registrar.ens.eth (0x57f1887a8BF19b14fC0dF6Fd9B2acc9Af147eA85), as per #3 above.
  6. Call setSubnodeOwner(keccak256('reverse'), wallet.ensdao.eth), as per #4 above.

Approving this transaction will transfer the bulk of the multisig’s responsibilities and control over ENS to the DAO; more details are available in the Snapshot proposal linked above. Note that it will not transfer ownership of the ENS root itself, which will remain the responsibility of the multisig for now.

It’s been a great pleasure working with you all and we would not have gotten here without you. Every one of you has been a crucial part of helping ensure ENS’s success, and you have my everlasting gratitude for that. I hope to see you participating in the future of the ENS DAO as it takes on the responsibilities you have held for ENS during its infancy.

Regards,

Nick Johnson

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64

coinbase didn’t vote

so angry at that

65

This has now been executed!

https://etherscan.io/tx/0x39effaa3280ee43c84af8db7936d0bf982bc72ea2f50af30bdcd5461eff6cdb5

10 Likes