🏛️📞 MetaGov Working Group – 2025 Meetings: Tuesdays at 2pm UTC (Currently 9:00 am ET)

1. Weekly Endowment Updates - @kpk + @Steakhouse

  • Endowment at $115M
    • ETH ~62%
    • Stables ~38%
  • The total result is net positive, with +$3M this week
  • Weekly commentary
  • BTC under pressure
  • ETH fell towards $2.8k
  • ENS token up 3.9% for the week
  • PUR 7 published on Tally and under review
    • Proposes EURC removal

2. [Temp Check] ENS Retro: An ENS DAO Retrospective

  • A couple of more hours before the voting closes.
  • If the proposal doesn’t pass, the steward election for term 7 will proceed.
  • Nominations will be posted by tomorrow, and the election will start on 15th.
  • General sentiment is that the conversation about Retro should continue even if it doesn’t pass now.
  • The biggest counterpoint to the retro seems to be the working group amendments.
  • Most delegates and stakeholders seem to be in favor of a retro.
  • General shared sentiment on a couple of things:
    • Feels like the discussion has “lost the plot”.
    • The focus shifted from fixing spending and other high-level issues to who attends calls or dissolving working groups.
    • Extending the elections is a toss-up with pros and cons to both.
  • Thomas’s post mentioned, and people are encouraged to comment.
  • Nomination and dissolving working groups suggested to be separate votes.

Retro idea and Eugene

  • Eugene’s involvement stems from stakeholder analysis and conversations about the DAO’s evolution.
  • The general intention this year is to focus on genuine decentralization.
  • The retro idea combines a financial review of spending with stakeholder analysis to understand problems and tie them to operations.
  • A big challenge for most DAOs has been output tracking, let alone outcome and impact tracking.
  • Evaluation breaks down into stages: money spent to produce outputs, outputs leading to outcomes, and outcomes leading to impact.
  • DAOs need to become more rigorous when it comes to spending
    • Formalizing a retro with stakeholder analysis can signal a unique depth of understanding.
  • It’s crucial to define who will receive the findings and what their plan is.
  • The goal is to provide an unbiased view of problems and potential solutions, which should then be acted upon by the community.
  • There’s excitement about exploring creative ways for the wider ENS community to engage in the process, such as anonymous forms or signaling based on .eth name or token holdings.
  • Qualitative data from working groups and the SPP side is valuable, and further exploration is desired.
  • The aim is to reorient, propose different structures, and move forward productively.
  • A retro and full stakeholder analysis with community interaction cannot be done in less than 3-4 months.
  • If the timelines are unacceptable, the minimum viable version of getting the answers needed should be figured out.

The Dissonance in DAOs

  • Dissonance centers on the mission, vision, and values of major stakeholders in an ecosystem.
  • DAOs have a trilemma: labs with a clear vision and product roadmap, and a foundation/DAO that does “question mark relating to that.”
  • Many DAOs “wander off to crazy town” and don’t do anything relevant for the protocol, just “having fun, vibing in the corner, doing a community thing.”
  • Important to understand how aligned or misaligned stakeholders are on the DAO’s purpose in the context of the Labs’ / ENS’s mission.
  • Need to determine the DAO’s committed mission, vision, and purpose, around which concrete strategic goals and KPIs can be set.

Proposed Action Plan

  • Immediately start scheduling 1 on 1 stakeholder interviews and anonymous feedback forms.
  • Determine what ENS DAO is trying to accomplish, why it exists, and where it wants to be in 12-24 months.
  • Assess whether the community has roughly 80% consensus on the answers to these questions.
  • Speed run realignment in January-February; if that doesn’t happen, the project may need to be paused.

Measuring Success

  • Success will be measured by whether the analysis points towards the direction the DAO is trying to head.
  • The first phase is a 4-6 week sprint through interviews and data collection to determine community alignment.
  • If the community can’t clarify its goals, the results of the analysis won’t be useful.
  • Without alignment on the “why,” it will be hard to agree on potential solutions and prioritize them.

3. Steward Elections Term 7 - Update on Timing and Next Steps

Election process overview

  • Nomination period lasts 3 days, but this time it will be longer to encourage more participation.
  • Candidates need 10k ENS support to pass the nomination phase
  • The top 3 choices in the election get a seat on each working group
  • For this election:
    • Compensation structure will be the same (USDC + ENS tokens)
    • Voting - ranked choice voting using the Copeland method
    • An option to dissolve the working group will be added.
  • There are concerns about combining a vote on nominations with a vote to wind down the working group.

4. Open discussion

From Stagnation to Structure: Fixing ENS Governance