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

1. Weekly Endowment Updates - @kpk + @Steakhouse

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2. ENS Distribution Monitor - @danch.quixote

  • A system that tracks how effectively the DAO allocates tokens to contributors?
  • Dune Dashboard.
  • Full presentation with all findings.
  • Efficiency means how well token distributions achieve their intended goals:

  • In the last year and a half, since the first distributions conducted through Hedgy, an average of 88,000 votes were added to each vote, representing 6.5% of the total number of votes.
  • 13 new voters were added with a combined voting power of 48,000
  • High inactivity among EP [5.19] distribution recipients was identified.
  • ENS is doing a good job of distributing tokens, generally speaking.
  • All distributions in ENS could be made using a vesting format if you want to not only reward participants but also retain votes in the pool.
  • Move to a format where the cliff occurs only after delegation or even after the first voting in order to also increase the involvement of recipients in ENS governance.
  • The DAO needs a general statement on token distribution
  • A move towards a little increase in centralization was a byproduct of people delegating to existing large delegates.
  • Data metrics were verified from Dune (cross-validated using Etherscan).
  • Consider changing the token allocation ratio for service providers.
  • Service provider distribution has the highest quality because about 70% of tokens are used in voting.

3. [RFC] Delegation Increase Incentives System - @zeugh.eth

  • Full presentation.
  • Moving it soon to Temp Check after consolidating everyone’s comments.
  • Goals:
    • Increase the cost of governance attacks
    • Increase active delegate power to those actively voting
  • The proposal is to distribute ENS tokens to active delegates and their delegators.
  • The idea is to give most of the tokens to delegators.
  • The system is designed to incentivize holders to delegate.
  • Mechanics:
    • Voting power-based distribution with reward caps: 0.5% of the total pool for delegates and 5% for delegators.
    • Timeheld modifier – up to 6 months of holding ENS on the wallet to scale rewards progressively.
    • Minimum payout: 1 ENS; amounts less than 1 ENS enter a lottery system for up to 10 ENS.
  • Goal: 30% to 50% increase in voting power.
  • Active delegates must have voted in over seven of the last ten proposals
  • The program is a pilot for 3 months because there are incentives that need to be balanced.

4. ICANN update - @simona_pop

  • Main problematic areas:
    • Language vs. mechanics: ENS’ constitutional language about not infringing name-owner rights can sound like “perpetuity,” even though the mechanics are term-limited with expiry. That messaging gap alone is triggering policy anxiety.
    • Dispute resolution parity: Without a built-in, binding UDRP-style pathway, brands and rights-holders lack a familiar, enforceable mechanism to recover abusive registrations. That’s a notable divergence from ICANN norms.
    • Governance priorities: "Integrate with DNS without sacrificing decentralization” is philosophically sound for web3, but for ICANN it raises the question: When these values collide, who yields?
  • More to be discussed in the upcoming Weekly Public Goods call.

5. ENS Retro - @James

  • Toward Accountable and Strategic Funding in ENS
  • A group was formed with WG stewards and Labs to discuss retrospectives.
  • The idea is to do a retro on all SPs and WGs to look at what was aimed to be achieved, what the goals were, and how the goals were addressed.
  • The proposal might push back WG elections and the SPP by 3 months.
  • Different levels of reporting and accountability across the WGs and SPP.
  • Standardizing the levels of accountability across the working groups would be a good outcome, and see what working groups are already doing and what still needs to be done.
  • There is concern about changing the election cycle so close to the election.
  • SPs may have feedback but are not yet involved in the group discussions.
  • The idea is to retrospectively look at how spending, activities, and outcomes have been listed.
  • It might be decided that it’s important enough to reschedule elections so that the results of the retro could be taken into account before those elections happen.
  • One clear outcome is improving the SPP vote process.
  • Another outcome is a more built-out version of the ENS year in review.
  • A third outcome is having a single place to look at all the different programs and initiatives that the ENSDA has achieved.
  • The goal is not to scrutinize working group work but to use it to take things to the next level.
  • The overall intention is to have some sort of mechanism or routine for evaluation and to keep the DAO accountable.
  • There is a question of whether the evaluation should be done independently, in-house, or a combination of both.
  • A feeling that changing rules with short notice creates disruption and instability.
  • There will be a session at DevConnect where delegates and working group leads can continue the discussion.
  • The discussion will also be held publicly on the forum soon.

6. Discussions & Upcoming Proposals

6.1. [Temp Check] Registration of on.eth to support interoperable addressing standards

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7. Open discussion

  • Anonymous Feedback form for Metagov calls.
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Intro

  • Light agenda on today’s call.
  • All three funding proposals went through.
  • No call next week.
  • ENS event is Buenos Aires: ENS in Buenos Aires ¡ Luma

Decentralized Basic site

  • https://v11.fundamentalia.eth.link/
  • Marcus discussed the basic site to adopt a decentralized approach.
  • Built using Autark – a command line interface that lets people deploy decentralized websites and manage them through a safe.
  • Delegate its updates to MetaGov stewards to approve each change.

ENS Retro

  • A retrospective on ENS is being discussed, which involves pausing elections and potentially SPP.
  • James and Arnold were excited to have ENS set an example for the industry by doing a DAO retro in practice.
  • The spirit of what is trying to be accomplished is important.
  • The North Star is how to improve the DAO.
  • The plan is to come up with a formal proposal about how it would all work.
  • It should cover the economic, governance, and social aspects of the DAO.
  • General sentiment is that DAO is evolving and needs to keep evolving, and challenging systems in place openly, every time it yields positive results.
  • The retro idea is a component of pushing the d/acc movement forward.
  • Thomas’s post about SPs was a key motivator for the retro idea.

SPP discussion

  • It was observed that there seem to be two different objectives within the SPP: vendors with a one-year expectation and teams with the intention of continuous funding.
  • These objectives may need to be separated and considered differently due to their different requirements.
  • The funding is a significant portion of the service providers’ revenue, and turning it off would be very impactful.
  • Existing SPP providers who have delivered on their promises should have an easier path to continued funding.
  • Funding should be tied to specific deliverables or ongoing costs.
  • It’s important to differentiate between a stream and a grant.

Light agenda after DevConnect

KPK updates

  • Endowment at 110M (ETH and Stables)
  • Total results at -6M due to ETH price decrease.
  • Generated $60k in yield.
  • Weekly commentary:
  • The market dropped by $3T.
  • With the market drop, there are plans to buy some ETH at a lower price.
  • Shoutout to the KPK team for acting quickly on the Compound incident

Proposal updates

  • Working groups funding requests
    • 3 social proposals for 3 WGs – all passed.
    • Next is to request funds onchain.
  • KPK, permission update proposal
    • Enabling new protocols and EUR stablecoin usage.

Target allocation for Endowment discussion

  • Discussion regarding IPS to better define risk parameters and improve IPS.
  • Invite the community to participate.
  • Endowment’s ETH vs stablecoin allocation targets.

Open Discussion

ENS discussions at Devconnect

  • Discussions around Retro and the working group structures.
  • Expecting James to post a proposal on the forum to move Retro to a vote.
  • Proposal expected to go live soon.
  • Before any changes to working group structures, an analysis is needed.

ENS Organizational Metadata

  • An ecosystem project that defines a standard spec for adding organizational metadata to an ENS name and a tree of subnames.
  • The initial phase involved community outreach.
  • Current phase: technical system design.
  • Next stage: community involvement.
  • Technical details posted on the forum.

Agenda and Minutes for MetaGov Meeting, December 2nd, 2025

Details

Time: Tuesdays at 9:00 am ET (2pm UTC) - ET timezone changed.
Google Meet Link: meet.google.com/bms-grvp-jbw

Stewards:

Agenda

This session will be our Delegate All-Hands, which takes place during the first MetaGov Meeting of each month.
These meetings feature a curated agenda and a broader presence of delegates, enabling deeper discussions, faster coordination, and more effective progress for ENS governance.

  1. Weekly Endowment Updates - @kpk + @Steakhouse
  2. Update on the Endowment Fee Structure (Metagov + kpk)
  3. ENS Holiday Awards Referral Program - @lightwalker.eth
  4. [RFC] Delegation Increase Incentives System - @zeugh.eth
  5. Steward Elections Term 7 - Update on Timing and Next Steps
  6. [Temp Check] ENS Retro: An ENS DAO Retrospective
  7. Open discussion

1. Weekly Endowment Updates - @kpk + @Steakhouse

2. Update on the Endowment Fee Structure (Metagov + kpk)

  • Moved to the AUM (Assets Under Management) only fee model.
  • Aligns the treasury manager better with the ENS Endowment goals.
  • Increases transparency on how the fees are calculated.
  • Previous fee structure was a 50 basis point AUM fee (0.5% per year) with a fee cap at 100M, plus a 10% performance fee on all yields above 4%
  • The new fee structure also has the 0.5% AUM initial fee, capped at 100M, but the fee starts decaying (if the AUM increases 4x, the fee decreases 2x)
  • The services provided by KPK are the same.

3. ENS Holiday Awards Referral Program - @lightwalker.eth

  • The first ENS referral program, ENS Holiday Awards, is now live.
  • Users can generate a referral link and share it to qualify for a share of a $10,000 prize pool.
  • The program is focused on distribution channels through products with large existing audiences, such as wallets and block explorers, to incentivize them to prioritize .eth name registrations and renewals.
  • ENS Holiday Awards are an experiment to discover how to structure referral programs, intending to present a tested proposal to the DAO later.
  • Referrals consider both registrations and renewals.
  • Scoring is based on referral years, not the quantity of referrals.
  • ENS Manager app implemented the referrer parameter on the link.

4. [RFC] Delegation Increase Incentives System - @zeugh.eth

  • Been under discussion status for about 2 months.
  • The system aims to distribute ENS to active delegates and delegators.
  • Active delegates are those voting over 70% of the time.
  • A proposal version will be brought either this week or early next week.

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

  • There are currently 2 proposals that affect nominations / elections:
      1. ENS Admin panel proposal
      1. ENS retro proposal
  • The ENS retro proposal delays the election by 4 months.
  • MetaGov will wait for these proposals to have a resolution.
  • If both get rejected, the plan is to handle nominations and elections.
  • The goal is to have a bigger time of nomination and preparation time to get more people engaged.
  • Nomination window starts after the proposal has a resolution one way or the other.

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

  • A retro is proposed to provide industry leadership.
  • There has been discussion about the structure of the retro on the forum.
  • Changes to the Retro proposal:
    • Initially, the retro was to be led by James, Thomas, Arnold, and Metagov.
    • The retro will now be led independently by Metagov to avoid bias.
    • There will be a proposal to extend the working group term until March next year, until the retro is finished.
    • If one working group steward wants to step down, the other 2 can continue.
    • If all 3 working group stewards step down, the working group will pause, and multisig funds will be returned to the DAO.
    • More clarity has been added around how the budget plans are to be developed, primarily around the specification section.
  • The first proposal is for immediate action with a budget of up to 4 months.
  • The second proposal involves a snapshot vote to signal DAO support
    • Followed by refinement by Metagov for clearer scope, budget, and goals.
    • The budget will be tied to deliverables, timeline, and scope.
  • Data discovery is a big part of the retro, and it would be good to understand what data is already fully qualified.
  • Specific deliverables, proposal scope, and budget breakdown will be presented by Metagov.
  • The idea is to extend until March, complete the retro, and gather more data from DAO contributors before deciding on the next steps for SPP, working groups, or other structures.
  • Eugene from Metagov will be present on a call to discuss the proposal, possibly during a MetaGov working group call or at an independent time.

7. Open discussion

7.1 Woof

  • Woop offers ENS to use the streamer for streaming yield-bearing tokens.
  • Woop’s streamer product is free, audited, permissionless, and immutable, allowing streaming of native and yield-bearing tokens.
  • By using the streamer for streaming yield-bearing tokens, ENS can potentially earn around $400k to $500k in profit annually.
  • Currently streaming around $9.5M for OpenZeppelin, Tally, Gauntlet, and themselves.
  • Read their entire proposal here.
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Agenda and Minutes for MetaGov Meeting, December 9th, 2025

Details

Time: Tuesdays at 9:00 am ET (2pm UTC)
Google Meet Link: meet.google.com/bms-grvp-jbw

Stewards:

Agenda

  1. Weekly Endowment Updates - @kpk + @Steakhouse
  2. [Temp Check] ENS Retro: An ENS DAO Retrospective
  3. Steward Elections Term 7 - Update on Timing and Next Steps
  4. Open discussion

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

Agenda and Minutes for MetaGov Meeting, December 16th, 2025

Details

Time: Tuesdays at 9:00 am ET (2pm UTC)
Google Meet Link: meet.google.com/bms-grvp-jbw

Stewards:

Agenda

  1. Weekly Endowment Updates - @kpk + @Steakhouse
  2. Next steps for ENS Retro
  3. Collective Working Group Funding discussion
  4. KPK Permissions Update (is live onchain)
  5. Open discussion

1. Weekly Endowment Updates - @kpk + @Steakhouse

2. ENS Retro next steps

  • Eugene is working on the proposal, aiming to post on the forum soon.
  • Timeline concerns:
    • Hoping to get it onchain quickly.
    • Avoid having a vote live during Christmas.
    • Ensure Eugene’s post has enough time on the forum before on-chain vote.
  • Collect feedback from the community regarding the intent of the retro.
    • Post feedback on the forum.
  • Vote Timing Options
    • Option 1: Rush the vote to be before Christmas.
    • Option 2: Have the vote in the first week of January for more time
  • Pushing onchain vote for the retro in the first week of January could make it less rushed.

3. Collective Working Group Funding discussion

  • Tactical items need clarification: stewards, terms, comp.
  • Nick suggested removing comp from the executable.
  • There’s half a million dollars in working group wallets
  • Social proposal could clarify stewardship
    • Temp check: Continue paying stewards at the same rate
    • Constitution states there need to be three signers and one secretary
  • Need clarity on whether all nine stewards will continue into January
  • Break into 2 proposals:
      1. Retro proposal: clarify, fund, execute in January.
      1. Stewards and working groups proposal: clarify, fund, execute, but start with a temp check to clarify stewards, roles, dates, funding, and move onchain after.

4. KPK Permissions Update (is live onchain)

5. Open Discussion

  • Thomas wrote a post about the current state of the DAO to open a conversation, but there hasn’t been much participation on the forum.
  • There is little engagement with the ENS forum and ecosystem in general
  • There are tradeoff between decentralized organizations and traditional organizations
  • It is important to optimize for decentralization in DAOs.
  • It’s difficult to comment on how to make things more efficient without clarity from ENS labs on the technical development of the protocol.
  • Those being paid who are not participating is not good.
  • The timing of the post may not have been ideal due to other events happening.
  • OpCo proposal suggests full-time paid people with aligned incentives to represent the DAO.
  • Contributors are acting on behalf of the DAO, assuming support unless explicitly opposed.