This post outlines the Meta-Governance Working Group’s budget for the upcoming 6-month period, Term 5 Q3/Q4.
Below, we’ve outlined the previous term’s projected budget and actual spend, as well as the planned budget for the upcoming 6 months of Term 5, specifically Q3/Q4.
Descriptions of various categories can be found below the tables.
Previous Term 5 Q1/Q2 2024 (for comparison)
Spending reports:
Term 5 Q1
Term 5 Q2
| Category | Planned USDC | Planned ETH | Actual USDC | Actual ETH |
|---|---|---|---|---|
| Working Group Compensation | 294,000 | 0 | 294,000 | 0 |
| Governance | 0 | 5 | 0 | 0 |
| DAO Tooling | 130,000 | 0 | 5,186 | 0 |
| Discretionary | 30,000 | 5 | 18,310 | 0 |
| Contract Audits | 90,000 | 0 | 0 | 0 |
| DAO Bylaws Initiative | 25,000 | 0 | 9,999 | 0 |
| Endowment Management Fees | - | 132 | - | ? |
| Total | 574,000 | 142 | 327,495 | ? |
Term 5 Q3/Q4 2024 Budget
| Category | USDC | ETH |
|---|---|---|
| Working Group Steward Compensation | 294,000 | 0 |
| Governance | 0 | 5 |
| DAO Tooling | 150,000 | 0 |
| Sponsorships | 15,000 | 0 |
| Discretionary | 75,000 | 0 |
| Contract Audits | 40,000 | 0 |
| Endowment Management Fees | 0 | 0 |
| Total | 574,000 | 5 |
Category Descriptions
- Working Group Steward Compensation - Compensation for Working Group stewards, the Working Group secretary, and the scribe.
- Governance - Fee reimbursements and initiatives related to reducing friction in the governance process. Examples include gas fee reimbursements for voting or delegation changes, or reimbursements for proposal submissions and execution.
- DAO Tooling - Developing interfaces and dashboards to improve the governance process and increase transparency across the DAO. Examples are agora.ensdao.org and a proposal interface for the Executable and Social proposals.
- Discretionary - Funds distributed at the discretion of stewards towards new initiatives + governance experiments from the MetaGov Working Group Multisig.
- Contract Audits - These are funds that will be used to pay for smart contract review and formal security audits. An example would be the code4rena audits on the namewrapper contracts.
- Endowment Management Fees - Fees paid to vendors or service providers for treasury management services. The current treasury management services are provided by Karpatkey and Steakhouse per [EP 2.2.5] with strategies described in this post here.
$ENS Governance Token Distribution
The Meta-Governance Working Group continually evaluates the distribution of $ENS governance tokens to our various partner projects and contributors whose contributions allow for, and improve, the ENS DAO and Working Group operations.
The goal of $ENS distributions from the Meta-Governance WG is to increase ENS DAO participation from key individuals and DAO-related projects who continue to build the infrastructure that the DAO relies on.
For the Term 5 Q3/Q4 period, the following governance distributions are planned:
| Recipient Category | Amount of $ENS | Method |
|---|---|---|
| Contributors and Developers | 60k | Vesting contracts |
We will continue to refine and implement strategies for distributing governance tokens to key contributors and projects. We encourage all who hold an opinion on this matter to join the weekly calls for more information and to contribute to the discussion.
Current Metagov Wallet Balances
| Address | ETH | USDC | $ENS | Notes |
|---|---|---|---|---|
| main.mg.wg.ens.eth | 83.69 | 467,021 | 74,951 | |
| endowmentfees.mg.wg.ens.eth | 0 | 0 | 0 |
We encourage all community members to stay engaged and participate in these important discussions and processes.