MetaGov Post-Meeting Notes (September 3, 2026)
Full recording of the call can be referenced at this link.
Discussion Topics and Notes
SPP3 Marketplace RFP and Nomentum Labs Update
The committee presented updates regarding the SPP3 marketplace RFP award and introduced the team managing the Grails.
- The SPP committee officially selected the Grails team. As of the meeting, the onchain vote was approximately 3,500 votes shy of reaching quorum. Once passed, an award letter will be issued to initiate KYC protocols.
- The Grails product will now be independently managed under a new company named Nomentum. The team is composed of a core group of three members (Throw and Encrypted presented on the call). This team brings a steeped understanding of ENS subject matter, specifically a unique comprehension of marketplace users, their behavioral patterns, and how to best deliver a product fitting their needs, as they’ve demonstrated historically, contributing significant revenue to ENS.
- Future Roadmap and Milestones: Nomentum’s strategy for the RFP award includes executing a UI/UX redesign, implementing a registry agent to reduce technical hurdles for new users, and building a native mobile application to better engage their mobile-heavy user base.
October Funding Request and Scope Debates
The MetaGov working group outlined early frameworks for the upcoming October funding request and hosted a temperature check regarding its operational boundaries.
- Funding Buckets: The proposed budget brief features core allocations for continuity funding (newsletter and social management), unplanned obligations buffers, team compensation, growth programs, grants, and community management. The brief has been shared with Labs and Foundation teams ahead of a formal alignment meeting.
- Hackathon Support: Stewards debated whether MetaGov should fund hackathon developer outreach, a function previously managed by the Ecosystem working group. The general consensus leaned toward supporting it as a shared initiative alongside Labs, with an emphasis on establishing clear growth-mindset strategies and outcomes rather than untargeted capital deployment.
- Steward Travel and Presence: A baseline approval was voiced for maintaining discretionary travel funding for events like DevCon. However, folks emphasized rigorous self-policing to ensure travel is strictly tied to explicit objectives, such as panel speaking or operating local event booths, rather than unstructured networking.
Txn Transparency Updates
Updates were provided on MetaGov txn transparency.
- To maintain public visibility following the shutdown of the Safe Notes tool, a Term 7 index is being introduced to log all multisig transactions directly onto the forum.
- The forum setup was concluded as sufficient due to the presence of less working group wallets.
- A more sophisticated setup can be introduced if new multisigs are spun up.
Delegation Incentives
- The incentive program is entering its third round for September, with rewards for round two currently being prepared for distribution.
- Program Data Metrics: Blockful is preparing a multi-month breakdown report mapping voting power shifts. Recent metrics revealed a 70% decrease in active delegation voting power because a major participant (Nick) missed votes and became inactive; discounting this anomaly, the active delegator base actually saw a net 6% increase over the month.
Endowment Updates
Financial performance metrics were reviewed alongside ongoing structural shifts involving the custody of the endowment.
- Driven by market movements, the endowment’s NAV rose to $93 million. August concluded with strategy earnings reaching $223,000, while the first three days of September brought in an additional $23,000. The current spot blended APY rests at 3.08%, placing performance above the established benchmark.
- The portfolio remains overweight on ETH. The team has been executing a series of small tranches to convert ETH to stablecoins—primarily utilizing Fluid USDC due to its high relative returns—in an effort to restore the asset allocation back to its mandated 60/40 ratio.
- Custody of the endowment Safe has officially transferred to the Foundation. Moving forward, the Foundation effectively replaces MetaGov as the official counterparty for reviewing and approving strategy additions and permission upgrades (such as the pending parameter deployments PUR10 and PUR11).
Open Discussion (ENSIP-28 Name Owned Accounts)
The group discussed a proposal seeking to expand the structural capabilities of profile architectures.
- An overview was provided for an ENSIP focused on allowing a single ENS name profile to securely bundle and display multiple public accounts per blockchain network. The standard directly aims to resolve profile fragmentation issues, such as users manually cutting and pasting long lists of trading addresses onto social media platform profiles.
- The proposal, which leverages existing ENSIP-24 resolver standards, was recently updated through a pull request by ENS Labs. This latest iteration introduces formal verification rules for multi-account indexing that were absent in the original draft. The authors intend to publish a detailed concept breakdown on the forum to track community feedback and monitor early developer adoption.