1. Weekly Endowment Updates - @kpk + @Steakhouse
- Looker Studio Dashboard for more details.
- Endowment at 140M
- 72% in ETH and 28% stables
- Portfolio grew by 4.4M this week
- Total yield was 85k
- 3.4% realized APR
- Weekly commentary:
- PUR6 was accepted, allowing execution of the payload onchain and inclusion of more markets into the strategy.
- There are plans to migrate sUSDs to increase yield.
- Incrementally improving APY and monitoring performance weekly.
- Rebalancing not executed per IPS due to discussions at the last delegate all-hands, and there’s no defined policy.
- kpk to suggest alternatives for rebalancing.
- A model was created to play around with different structures.
- Link to a model showing how the 60/40 split works and how changing the ETH price affects ETH sales (https://ens-endowment-calculator.xyz/)
- IPS states rebalancing occurs bi-weekly to achieve target allocation, in tranches of 1,000 ETH.
2. General DAO Updates Section
2.1. Discussions & Upcoming Proposals
- Two proposals passed:
- ENS contract naming season
- Endowment permission update to kpk (PUR 6)
- Both are pending execution and will be executed soon.
- New proposal on the forum: [Temp Check] Registration of on.eth to support interoperable addressing standards
2.2. ENS Contract naming season
- Open meeting for contract naming season will be this week.
- Will be posted in working group chats.
- ENScribe Incentive Working Group: Telegram: Join Group Chat
- How many contracts are expected to be named?
- Below 3 - disappointing
- Above 20 - impressive
- Metrics to track:
- Uptick in activity and engagement within inscribe.
- Google Analytics data on app vs. website traffic.
- Dune dashboards for primary naming on ENS.
- ENS Awards leaderboards to showcase protocols with named contracts.
- It’s not ideal to view the program as a customer acquisition cost situation
- Evaluating Success:
- Need help in defining how the success of the program should be judged and evaluated.
- The program would not be supported again if the results are nebulous.
- Clear outcomes and goals should be defined before.
3. Open discussion
3.1. Service Provider Program (SPP) Discussion
- There is ongoing discussion about the SPP from various independent parties.
- Ideas are being formulated to determine the future of the SPP, including potentially killing it, changing its format, or doubling down on the current strategy.
- There is concern that discussing the SPP during the steward elections will create a politically biased environment.
- The elections are aimed to be held at the end of the first week of December.
- Suggested posting on the forum to highlight discussion topics and request proposals for different SPP vote structures.
- One idea is to form a committee consisting of delegates, ENS Labs, and firms like Deloitte or PwC to evaluate service provision.
- Another idea is to use a protocol around signalling to assess the importance of proposals.
- The ideal process would be to define priorities, set goals, and then allocate a budget for each goal.
- There is an angle to encourage how the proposals could help with a goal of more revenue for the ENS DAO.
- Experimentation, revenue generation, and technical development could be framed independently.
3.2. Working groups
- The reason there are three working groups is because it was proposed to Nick, following Gitcoin’s criteria.
- The DAO is in a different maturity stage now, and the structure of the working groups should be re-examined.
- Questions to consider:
- Do we need as many working groups?
- Do they need to be structured in the same way?
- Should there be an ENS growth working group?
- Could ecosystem and public goods be one working group?
3.3. Growth Working Group
- The idea of a growth working group feels “really interesting.”
- There has been interest from different people with different ideas around what that could look like and how they would be interested to contribute.
- The value of the working group is probably indirect or somewhat intangible because it is marketing in a way.
- It can get a lot of visibility and involvement from builders and developers.
3.4. Forum Discussions and Next Week
- There are two main discussions on the forum:
- on.eth for the interoperability initiative from the Ethereum Foundation.
- Request for comment around delegation incentives.
- Next week:
- Delegates all hands will be chatting about the delegation incentives.
- Danch will present an analysis of governance distributions.