Quick notes:
- There will be a MetaGov call next week β an all-hands delegates call.
- Metagov team will provide updates on Retro next week.
1. Weekly Endowment Updates - @kpk + @Steakhouse
- Endowment at $88.8M
- 55 in ETH and 45 in stables
- Weekly summary performance for the endowment
- Rebalancing and Yield optimization are in progress
- Working to introduce new yield opportunities
- Working on a PUR 8 for routine updates
- Working on the public dashboard to follow the yields and have a better overview of performances.
- All Weekly commentary:
- Full weekly report.
- Dashboard access here.
- IPS updates soon.
- Current IPS link.
2. Recent proposals update
2.1. [Executable] Replace DNSSEC oracle algorithms
- Live for voting.
- Vote here.
2.2. [Executable] Register on.eth to the ENS DAO wallet and set the resolver
- Already been discussed multiple times.
- Currently live - go vote here.
2.3. [Executable] Treasury Flow Automation
- The proposal aims to change how revenue flows into the DAO and the endowment.
- It improves the current setup and addresses the old registrar withdrawal hurdle.
- It removes the need to require a proposal to the DAO for every operational step.
- The new contract will have 2 new properties:
- Permissionless withdrawal of ETH from the old register.
- Direct ETH transfer to the endowment
- The treasury manager (KPK) can then make the assets productive quickly.
- The proposal aims to make it easier for funds to be transferred.
- Also, make it less likely for the DAO wallet to run out of funds.
3. Proposal: Committee Model for SPP3 Funding Allocation
- Committee Model vs. the Delegate Model
- New proposal for a committee model for the SPP program, instead of the delegate model.
- In the delegate model, applicants for funding are voted on by DAO delegates.
- In the committee model, the chosen committee would pick the SPs.
- Problems with the Delegate Model:
- Exhausting for delegates: delegates are bombarded with requests to vote.
- Applicant fatigue: stressful and tedious task to identify and contact delegates.
- All-or-nothing funding: delegate model doesnβt allow for negotiations on funding.
- Committee Model:
- Small, engaged committee would read applications, schedule time with each team, and negotiate funding.
- The DAO would still approve the program, select the committee, and handle onchain fund distribution.
- The goal is to delegate the decision-making process to trusted individuals, improving efficiency.
- Discussion and Feedback:
- The committee model is perceived as a step forward.
- A decision/evaluation framework for the committee model is universally recognized as a must-have / north-star document.
- Criteria for evaluating projects (industries, verticals, categories)
- Concern around the Committee selection process and composition.
- Suggestions include someone from 1) MetaGov, 2) someone from the ecosystem, or 3) someone external selected.
- Concern expressed about fairness in electing a committee from within the community, fearing an "echo chamber of friends voting for each other.β
- A mix of internal and external expertise is necessary, referencing Sov as a potential resource for designing the committee framework.
- A hybrid model with a committee for screening, rating, and negotiation, and delegates for the final decision, would be best.
4. Open discussion
4.1. Delegation incentives program update
- The main goal of the program is to increase the security of the DAO.
- The second-order effect is an increase in participation from delegates.
- Delegation incentive system:
- Working prototype is being improved
- Onchain proposal this week
- Aiming for broad appeal, targeting small ENS holders outside the DAO.
- Goal: Encourage participation in making ENS safer
- Governor Upgrade:
- Risk assessment of current governance stack posted on the forum
- Identified 10 critical points for improvement
- Security Councilβs term expiring in a little over 6 months
- Modular Architecture:
- Reviewing RFC internally, to be posted this week.
- Goal: Make future upgrades easier.
- Avoiding time lock migration and treasury migration.
- Relevant links:

