Agenda and Minutes for Meta-Gov Meeting, September 5th, 2023
Details
Time: Tuesdays at 11am ET (3pm UTC).
Google Meet Link: meet.google.com/ihz-hdvb-bbq
Stewards: @katherine.eth (ENS | Twitter), @nick.eth (ENS | Twitter), @5pence.eth (ENS | Twitter)
Agenda
- General DAO Updates
- Endowment Update (@karpatkey)
- @khori.eth from Labs re Labs Financials 2022
- Reserved for Open Discussion
- Ben from Scopelift
Attendance
katherine.eth, nick.eth, 5pence.eth, coltron.eth, dr3a.eth, elbagococina, estmcmxci, evan moyer, greg skirloff, khori whittaker, lightwalker, limes.eth, santinomics, tomas, tyler caldonia, 184.eth
Notes by @184.eth
1. General DAO Updates
ENS NYC Happy Hour
- An ENS event during ETHNewYork is happening on September 23rd from 6-9pm (ET).
- Keep an eye on forum post ENS Happy Hour @ ETH NY 2023 for updates.
2. Endowment Update
Forum: 1) Endowment Monthly Reports & 2) ENS Financial Reporting by Steakhouse & 3) Karpatkey H1 2023 Review for the ENS Endowment.
Tomas | @karpatkey gave the weekly update.
- The endowment is currently valued at 28 million with a capital utilisation of almost 100%.
- August Monthly report was delayed due to a minor bug related to the balancer pools, however is expected before the next call.
Discussion into Second Tranche of Endowment & strategies.
- Proposal for the second tranche of Endowment is expected in the coming week.
- A vote is being timed to coincide with the September DAO Voting Window, along with another proposal.
- The proposal for diversification strategies would then follow in October.
Discussion into staked ETH diversification.
- Originally 100% in Lido, there are plans to diversify.
- The short-term goal to achieve a 70:30 composition.
- The long-term strategy to reach a 50/30/20 distribution across different pools.
3. Labs Financials 2022 w/ @khori.eth
Added: Discussion of Core Team Transitions
Forum: Core Team Transitions
- Khori gave shared about core team member updates, including:
- Leadership Changes:
- Leon overseeing development as head of engineering.
- Sadaf leading inhouse marketing, overseeing support, and events.
- Marta taking charge of business development.
- Eskender leading product and strategy.
- Recent Additions:
- Evan as community manager.
- Avery as full time as operations associate.
- And the departures of Alisha.eth and Vincent (Zadok7.eth).
- Leadership Changes:
Forum: ENS Labs 2022 Financials
Discussion on ENS Labs 2022 Financials
- ENS Labs receives an annualised stream from the DAO of approximately 4.1 million, with around 65% going to dev compensation.
- A major expense has been legal fees which were higher than anticipated.
- An example is ongoing work to secure eth.link, accounting for some of those legal fees.
- The nature of legal matters also necessitates that there is only so much that can be shared when matters are still active.
- Additionally, further restrictions may be placed on sharing by legal firms.
- Katherine.eth gave some insight into sensitive legal situations.
- ENS Labs are looking into director insurance and other insurance products that may assist in handling legal needs.
- Bookkeeping is on track for the 2023 Reporting which is due in June 2024.
4. Reserved for Open Discussion
Agora Demo next week
- The Agora team has been building out DAO tooling, which will be demoed in next week’s call.
- agora.ensdao.org already exists as a way to view delegates, voting power, and who delegates.
- Improvement to existing platform will include a proposals page.
- The goal is to have this web update in time for the September DAO Voting Window and expected proposals:
- Karpatkey - Endowment Second Tranche
- Normalisation - Invalid Name Refunds
Ben from scopelift
This was pushed to next week.