🏛️📞 MetaGov Working Group – 2025 Meetings: Tuesdays at 2pm UTC (Currently 10:00 am ET)

🗳️ Meta-Governance Meetings
30

​​Details

Time: Tuesdays at 10:00 am ET (2pm UTC).
Google Meet Link: meet.google.com/bms-grvp-jbw

Stewards:

Agenda

  1. Weekly Endowment Updates (@karpatkey + @Steakhouse )
  2. General DAO Updates Section
    1. Open Space for SPP Discussion
  3. Open Discussion

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Notes :memo:

1. Weekly Endowment Updates (@karpatkey + @Steakhouse )

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  • Endowment AUM: $68M
  • Portfolio: 35% ETH and 65% stablecoins
  • No changes to the strategy overview
  • Allocated funds at 99.95%
  • Current APR at 3%
  • TWAP – still paused since ETH price went below $2k

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  • Income statement for 2024
  • Domain registrations and renewals make up the operating revenue of $27M.
  • Operating expenses, such as working group expenses, Labs, and the service providers program, add up to around $17M.
  • Operating income was at $10M in 2024 after all Operating Expenses.
  • ENS Steakhouse Dune Dashboard
  • ENS financial reporting by Steakhouse
  • Working on Data Studio for the ENS Endowment Report

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  • It will have:
    • Summary of the portfolio, including ETH, stablecoins, and other crypto.
    • Weekly performance summaries.
    • Asset breakdown with charts and tables.
    • Strategy breakdown by type (staking, liquid staking, money markets…)

.ceo and Kartpatkey proposal

  • .ceo redelegation: Transfer ownership of the .ceo top-level domain to the DNSSEC registrar
  • The proposal is going live most likely tomorrow
  • Coordinating with Karpatkey to put up both proposals (.ceo and PUR)
  • Blockful will verify the executable payloads

2. General DAO updates section

2.1. Open Space for SPP Discussion

  • 6.5 proposal passed and will be used as the official voting algorithm for SPP2
  • MetaGov is creating materials to help delegates understand the voting.

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  • MetaGov plans to post a forum post with all the information about the dates.
  • Applicants can update their applications.
  • Three key areas to work through:
    • front-end development and testing (led by Netto),
    • the actual vote
    • a period of voting review.
  • The dates will be confirmed in the forum post and the next call.

Testing process

  • A public spreadsheet will manually calculate the results based on the snapshot testing vote.
  • The spreadsheet will be the source of truth for the algorithm and needs to be verified by everyone.
  • Providers’ UIs will be verified against the spreadsheet to ensure they implement the algorithm correctly.
  • A sync is needed between UI providers to understand their implementation progress.
  • UI providers agreed it was a low-effort implementation (1-2 days).
  • Lighthouse is good with the implementation.
    • Minor UI tweaks needed to the voting interface.
  • They need the JSON manifest to be included with all the metadata so they can trustlessly pluck the canonical information and replicate the results
  • Snapshot is capped at 20 unless you pay for the Pro version
  • ENS might need to pay for it for the SPP vote.
  • There will be a JSON manifest.
  • The JSON manifest lists all the choices (basic and extended proposals for each provider) and metadata to group them programmatically.
  • The intention is to have that included with the Snapshot vote to have onchain reference of the values that will be used to calculate the final results.
  • There was a discussion about surfacing how much of a provider’s total budget has been allocated in the UI.
  • The concern is that showing a running total might lead people to stop ordering choices once they hit a certain budget, which could skew the results.

3. Open Discussion

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