1. Weekly Endowment Updates - @kpk + @Steakhouse
- The entire weekly endowment overview.
- Endowment at $96M
- 64% in ETH and 36% in stables
- Net yield aronud 30k
- Weekly commentary overview
2. [Temp Check] SPP3: Program Authorization and Committee Model
- The proposal aims to start the SPP3 program to fund ENS builders.
- Proposed budget is $3.4M.
- Selection happens through a committee this time.
- The cohort will be submitted to a DAO executable proposal to vote on.
- Lightwalker is drafting suggestions to expand the committee’s scope for accountability.
- Additional adjustments are being considered.
- The proposal aims to align the decision-making process closer to market needs.
- Decisions have been made on a mix of political and merit-based grounds in the past.
- Importance of increasing registrations and healthy revenue streams highlighted.
- Mention of a retroactive incentive program for committee-selected providers.
- Proposal to formalize accountability reviews for past SPPs.
- Discussion on the culture of ENS regarding accountability and value creation.
- Acknowledgment that the results of SPs may lag behind implementation.
- The committee will create a defined rubric for judging applicants.
- Committee will work on CRM using Notion, with a report to ensure transparency.
- Current lack of thinking about ENS tokens highlighted.
- No ENS tokens for SPs was questioned.
- Open to discussions about incorporating ENS tokens for governance participation.
- ENS tokens should encourage participation in governance, not just compensation.
- Suggestion to frame ENS tokens in relation to grant amounts for clarity.
- Emphasis on the need for foundational documents within ENS.
- Proposal for a repo of all projects worked on in ENS to reduce overlapping work streams.
3. Steward Election
- Inquiry about how the proposed single working group will encompass all group functions.
- Suggestion that the focus should be on the ecosystem and public goods, and opportunities for showcasing projects.
- Governance responsibilities may shift to the foundation, with a full-time employee managing governance operations.
4. Open discussion
- The Retro team posted to the forum yesterday
- Received many questions regarding the foundation board proposal, SPP proposal, and working group proposal.
- None of the current proposals align with the Retro findings.
- The current draft of the Retro report recommends implementing the roadmap with a Governance Advisor.
- ENS should produce an RFP for a Governance Advisor.