1. Weekly Endowment Updates (@karpatkey + @Steakhouse )
- Endowment at almost 155M now
- Up 5M from last week due to the ETH increase
- 26% in stable coins, 74% in ETH
- Bitcoin closed at around 10% up last week
- Weekly commentary
- Kpk is working on the revised IPS and will present it next week
- Questions arose about potential ETH price appreciation that would require selling and potentially buying it back.
- Discussion on alternative policies, such as a fixed amount of USD or a curve where percentage of stables decreases as ETH price increases.
- The discussion is about the IPS and community sentiment, including the willingness to take risks if ETH goes down
2. General DAO Updates Section
2.1. Live proposals
- Proposal: Setting primary names for core DAO addresses
- Limes put up a proposal to name 3 ENS contracts
- Token, Endowment, and DAO Wallet.
- Blockful reviewed the call data to ensure the correct actions
- Metamask flagged the voting as a scam, trying to steal crypto.
- Greg reached out to Metamask about the issue and it’s been fixed!
2.2. Openbox Contributors Compensation
- MetaGov rewarded the council that participated in the Open Box proposal
- Participants received 200 ENS tokens vested over 2 years and 10k USDC.
- The USDC amount was questioned by a couple of delegates, mentioning a few areas of concern:
- size
- lack of transparency,
- retroactively done, and
- no statement of work that had been done.
- Suggestion for the future made – to present a document beforehand outlining services, roles, billable hours, and compensation.
2.3. Delegation Incentives + Anticapture updates
- Delegation incentives program aims to increase participation of tokens to enhance the DAO’s economic security.
- A post about this will be published on the forum this week.
- Anticapture updates include new features for data exploration
- Custom chart allows selection of different metrics.
- Feedback is welcome, and an update with more details will be shared.
- Blockful is preparing suggestions to update the governor contract.
- The DAO is currently in stage zero, with different risk areas.
- The proposed changes aim to upgrade parameters on the governor, increasing economic defense.
- Example: Voting delay is 12 seconds, which is extremely risky; there’s no spam protection, etc.
- A report with recommendations for the governor upgrade will be published around the end of October.
2.4. Contract Naming Season proposal
- The contract naming season proposal will be ready soon.
- The proposal involves onchain movement of funds to a MetaGov-controlled wallet (multi-sig).
- The funds would be held in MetaGov until logistics are set up
- The group could be called a “naming contract pod.”
- The goal is to get all protocols to name their contracts.
- Everyone is encouraged to collaborate on marketing, discussion, and bringing in other communities.
- Vitalik tweeted about contract naming, increasing engagement.
- Join Contract Naming TG Group.
3. Open discussion
3.1. Restructuring Delegate calls
- James suggested having a structured opening for delegate all-hands calls:
- Thanking delegates.
- Reviewing proposals passed since the last meeting.
- Opening the floor for discussion on controversial votes.
- Differentiating these calls from regular MetaGov calls.
- Simona suggested building the agenda for each call on the discussions from the previous one.
- Include a review of the last month’s DAO and delegate activity
- Outline goals for the next month
- Identify emerging topics of conversation
- Alex and James will collaborate on this
3.2. Leveraging Dorman ENS Tokens
- Arnold refers to James’ forum post on leveraging dormant ENS tokens.
- He feels the discussion hasn’t been properly unpacked.
- He suggests normalizing incentives with a framework for new ideas!
- Mentioned having a dedicated discussion on this topic.
- He is excited about incentivizing the distribution of tokens for useful experiments that drive ENS growth.
- Starting with smaller amounts for cool experiments.