Financial Statements
Income
Our primary income remains the ENS DAO SPP stream.
Expenses
Our biggest expense remains our team pay (see our Team page), though our infra and LLM costs have increased.
Team Update
We added a new team member this quarter, jalil.eth. From Scapes and Opepen to Checks and more, jalil.eth has been a prolific member of the crypto community for years and a longtime user and friend of ENS. So far he’s taken the lead on the development of Sign in with Ethereum (see below for our update), but we’ll see a lot from him on other projects as well.
Progress
Grails
In Q4 2025, we launched Grails (grails.app), a new ENS manager and marketplace. Built from scratch with a brand new codebase, Grails is fully open source under an MIT license (Github), has 0% app fees on all market actions, registrations, and extensions, and makes use of our other projects Sign in with Ethereum, Ethereum Follow Protocol, and Ethereum Identity Kit. It’s the most powerful ENS manager and marketplace app ever built, including new features never before seen on an ENS app.
Weekly Updates
Continuing the pattern last quarter, we’ve posted weekly updates on Twitter with lots of user engagement: Jan 5, Jan 12, Jan 19, Jan 26, Feb 2, Feb 9, Feb 16, Feb 23, Mar 2, Mar 8, Mar 16, Mar 23.
Testimonials
“Grails is absolutely the most powerful tool for ENS names.” - garypalmerjr.eth
“Grails is a staggeringly strong ENS tool. What a beast.” - 
.eth
“Grails is an absolute game-changer for ENS and my daily ENS go-to. Seriously can’t recommend it enough.” - bama.eth
“THE BEST! ” - iman.eth
“Please show me how to thank you enough?” - alalaoui.eth
“Grails Market is bringing the excitement back to ENS​
” - 00039.eth
Usage Highlights in Q1 2026
- Grails facilitated 99.35 ETH (~$205k) to the ENS DAO for registrations and extensions
- Grails facilitated more ETH to the ENS DAO than the ENS App on two days (Jan 26 and Feb 15)
- Grails regularly facilitates more Extension events than the ENS App (explained in part by our Bulk Extend tool providing finer control over extension length and date, leading users to extend more often but for shorter time periods)
- defi.eth sold on Grails for 15 ETH
- law.eth sold on Grails for 7.5 ETH (also used our Broker tool)
- cap.eth sold on Grails for 1.55 ETH to @cap
New Features
Grails has dramatically improved and expanded in the last quarter. Some new feature highlights:
- Grails CLI: Command-line interface for all public Grails APIs. Find it here.
- Google Metrics: One of our most popular features; Shows the Monthly Searches, Yearly Average, and Average CPC for the name on Google; Generate an image to share the stats; Users replying on twitter with their best Google Metrics (tweet)
- More Bulk Management Tools: Available on all profiles, categories, explore, search, etc. Complements the Bulk tools that already existed.
- Bulk Search: Search up to 10k terms at once
- Bulk Register: Register many .eth names at once
- Bulk Edit Records: Edit the records of many .eth names in one transaction
- Bulk Select: Select All button, Bulk Select a range, Bulk Select by picking individual names
- Download CSV: On any page with a list of names, download a CSV file with all the names and their info
- Keystrokes: Quick access to Search, Bulk Select, Select All, and more
- Edit Records: Edit records right on Grails, on your profile page or on individual name pages
- Registration
- Mint to Address: Register a name with one account to be owned by another account
- Minimize registration modal to keep browsing
- Analytics: Top Sales, Offers, Registrations; last 30 days, 7 days, 1 day; with graphs showing trends over time; filter by marketplace and category
- Leaderboard: Filter by Category, Sort by Names, Names in Categories, Expired, Listings, Sales, Sales Volume
- Filters/Sort Expanded and Improved: Redesigned Filters sidebar; Dozens of new Filter and Sort options throughout the site; Highlights: Watchlist min/max, View min/max, Category Count min/max, Does Not Contain, etc
- New Categories: 109 high quality curated categories now, up from 32 at the start of the quarter, mostly categories that have never existed before; Rankings for Prepunks and Short Name Auction 1k
- Categories landing page: Row and grid views, 12 stats per category, Sort by any stat, Filter by meta-categories, Category cards redesigned. Tabs: Categories, Names, Listings, Premium, Available, Holders, Activity
- Profile Improvements:
- Tabs: Names, Listings, Offers, Offers Received, Grace, Expired, Watchlist, Broker, Activity
- Last Seen, Last Txn, Last Renewed, Last Transfer In
- More profile info supported in profiles (Grails uses the latest version of Profile cards in Ethereum Identity Kit)
- All Bulk actions available
- Download CSV
- Improved and expanded filters/sort
- Name page Improvements: Redesigned name details; Links to Etherscan, ENS App, OpenSea, Vision; ENS Records, also Edit records; redesigned Categories; Google Metrics; Improved Activity; Recommended with GrailsAI (popular feature)
- Premium tools: Dedicated tabs everywhere, countdown by the second, power law chart for easy readability, calendar reminders
- Redesigned Homepage: Featured Listings, Top Sales, In Premium, Top Registrations, Testimonials, Bulk Tools, Top Categories, Twitter Bot, FAQs.
- Mega-menus: Upon hover, the navbar items Explore, Premium, Categories, and Analytics expand and show you information you can navigate to without first going to the page. Much faster for getting to what you want.
- Live Activity Improvements: More events supported; shows logo of app used for Registration, Extension, Listing, Offer, Sale; shows duration for Mints and Extensions
- More EFP: Even more integration throughout the app; EFP follow buttons on Leaderboard, all Holders tabs, EFP counts on profiles and profiles cards on hover
- Broker Tools: When you make a listing, you can elect to designate an Ethereum account that will received a specified percentage of the sale. Any user designated as a Broker for a listing has a Broker tab on their profile that shows all listings for which they are the broker.
Grails Holiday promotion wrap up
- Background: In December (Q4 2025), we ran a promotion to encourage people to extend their .eth names and register new ones in December. Each year of registration a user added gave them an entry. It was a big success! Grails facilitated 3,340 new registration years in December worth 18 ETH for the ENS DAO.
- Winners: In early January (Q1 2026), we picked winners. Each of the three winners won $1k in USDC and a Grails hoodie or t-shirt of their choice.
Sign in with Ethereum
In Q3 2025, we took over management of Sign in with Ethereum, finally shepherding EIP 4361 to Final, as well as creating new brand assets, website, twitter, etc, and promoting it at our Devconnect booth in Q4 2025.
Updates in Q1 2026:
New Typescript library
- viem support
- smart account compatibility
- TypeScript | Sign in with Ethereum
New Rust library
- smart account compatibility
- new “signinwithethereum” crate
- Rust | Sign in with Ethereum
New Quickstart Guide
- New example app based on Next.js
- Refreshed docs
- Quickstart | Sign in with Ethereum
- Next.js Example App
New Discourse plugin
- Works again! Easily install it on your Discourse forum to enable Sign in with Ethereum
- Refreshed modern UI
- Smart contract wallet support
- Fixed vulnerabilities
- ENS forum updated to latest version
- SIWE Discourse plugin update & user action item
- Discourse | Sign in with Ethereum
New OIDC server
- Completely revamped
- New example client implementation
- Fixed vulnerabilities
- OIDC Provider | Sign in with Ethereum
Ecosystem
SIWE has a lot more industry adoption than people might think. Some highlights:
- Privy
- Polymarket
- OnchainKit
- Ambire Wallet
- World Liberty Financial
- JAW SDK
- SIWE Ecosystem
More
- Recent tweet update
- brantly.eth gave a lengthy response to a viral tweet about why SIWE hasn’t had more adoption, explaining history and new path forward
—> SIWE website
EthLeaderboard
We revived EthLeaderboard! The original version become impractical due to onerous Twitter API pricing changes in 2023. But recent pricing changes made it practical again.
- New domain: ethleaderboard.com
- Now tracks if a Twitter account has a .eth name in their bio, in addition to display name.
- New logo
- Connect your wallet
- Click ENS names to see full ENS profile, including EFP data, EFP follow button
- Can edit ENS records right from the EthLeaderboard website
- Automatically tweets important updates, and tweets have a new format and include an auto-generated image
- All data now held in a backend database
- New admin panel helps us better manage the data and add/remove users
—> EthLeaderboard
gregskril.eth’s generosity
@gregskril graciously passed along to us the EthLeaderboard Twitter account. We also forked his code for the original website, as well as used the old data to bootstrap our new database. Thank you 
ENSMarketBot
ENSMarketBot is a Twitter bot that tweets out important ENS sales, offers, and registrations, launched last year.
- Now the primary ENS twitter bot, with the most engagement by a wide margin
- GrailsAI
is out of beta and vastly improved. In reply to the main tweets about important ENS market events, it gives concise but deep analysis of what happened, with some comedy thrown in (tweet) - Better category support
- Last Reg/Sale info
- Includes Broker info if applicable
—> ENSMarketBot
Ethereum Follow Protocol
- efpv2 API: Total overhaul of the EFP Indexer database and API from the ground up, much faster and more reliable than before
- ENS App, Vision, OpenSea links now supported in profiles
- New bulk button state API for better performance
- 7 new integrations
- 83 integrations total
- New integrations include: Status, CashGameHost, ThurinScry, and more
- New EFP integrations always also include heavy use of ENS
—> EFP app
Even as other crypto social projects are being abandoned or transferring management, we are still moving forward with EFP:
EFP & Status
The most recent release of the OG crypto app Status makes heavy use of EFP and ENS, and they highlighted this in their marketing campaign (see here, here, here)
Ethereum Identity Kit
- Latest: v0.2.74
- Support for new bulk button state fetch
- More options in socials: ENS App, Vision, OpenSea
- “Edit Profile” button can now be a custom link
- ENS names tagged in bios can now go to the relevant profile page on your app (instead of just to the EFP app)
- Improved header support
- Extensive use of EIK in our new Grails app
—> Ethereum Identity Kit website
Misconfigured Wrapped Names
We identified 1,700 misconfigured wrapped names and paid ETH to fix them.
The problem originated from the improper use of an old registrar contract by a now defunct third-party app (neither ENS App nor one of our apps). The solution was simple: pay to extend all of them by 1 day.
Using the convenience of Grails bulk search, select all, and bulk extend tools, the total we paid to extend them all plus gas was about 0.5 ETH.
Success in Promoting ENS
All of our work - integrations, posts, tweets, etc - are ultimately in the service of developing and promoting ENS. But we have also had great success in simply promoting ENS directly on Twitter, even in the last quarter as the crypto industry has entered a bear market and the ENS token price has hit record lows.
Here are some examples:
SPP KPIs
From our SPP2 application: “Per quarter: a minimum of 3 new EFP integrations with ENS improvements as needed, at least 1 new feature shipped in EIK, at least 1 new feature shipped in EFP app”
All of these were fulfilled this quarter.