FIRST DRAFT of ENS DAO BY-LAWS

[inplco]

@bendi

Interesting. Until now I thought of The Foundation as a separate legal entity that had in its by-laws that its directors would be elected by the DAO. It seems this is the wrong way to think about it, and really The Foundation == The DAO for legal purposes.

Yes. Correct. Foundation was created primarily as the legal face of DAO.

@bendi

Even if it were possible technically, I’m not sure it’s the right direction. The point of delegation is to let someone else you trust manage the day-to-day decisions. My guess is we’d have extremely low participation from the tokens delegated to the directors, as evidenced by the low participation in the sub-snapshots that @nick.eth and others set up for the most recent vote. As such, this would set up a weird incentive where someone hoping to be elected as a Director would be motivated to have their delegators move stake to different, but also supportive delegate. I would argue if you delegate to a person, there’s a good chance you also trust them to be a Director, or at least to vote For/Against themselves in this decision.

There are a bunch of caveats to this; sorry cannot elaborate more currently but you have raised valid points. You might want to give this a look: Beyond EP6: Addressing issues in governance emerging from the EP6 experience