1. Weekly Endowment Updates - @kpk + @Steakhouse
- Endowment at almost $90M
- 61% ETH and 39% stables
- Total result: -$5.9M
- Month-to-month result: -$6M (due to ETH and BTC price drops)
- Weekly commentary
- Adjustments made on ETH, LST, and stablecoins.
- Soon will sell approximately 638 ETH for stables.
- ENS Endowmnet report.
- Treasury flow automation is highlighted because these assets can be put to yield.
- There is currently around $500k in the contract.
2. [Temp Check] Working Group Restructure
- Proposal to be posted in the next 24-48 hours.
- Aiming for a social vote and transition to a new singular working group structure by June 1st.
- Proposal takes into account the need for entities responsible for administration of core DAO functions.
- The intention is to have a lean coordination layer to avoid duplication of efforts, with 3 stewards instead of the current 9.
- Working group’s priority will be onboarding, growing, and expanding the ecosystem, as well as interconnecting with the wider Ethereum community.
- Thomas states that his proposal for a coordination layer is synergistic with a potential foundation proposal.
- He envisions a separation of concerns: ENS labs, SPP committee, coordination layer, and the foundation, each covering specific roles.
- The proposal includes a budget of up to $500k every 6 months ($1M per year).
- The coordination layer would manage the DAO’s needs and desires, with spending dependent on the value and consensus.
- A social proposal for the path forward on working group elections for term seven will be submitted today.
- Path forward on Working Group elections for Term 7
- The proposal aims to establish a timeline for a fallback option if the DAO doesn’t reach consensus on restructuring.
- The goal is to provide a clear deadline for stewards and push the DAO to make a decision on restructuring.
3. Open discussion
- Existing PG funding to grantees will continue, but there won’t be any new funding.
- The SPP3 program will go live soon.
- A post will be made in the forum this afternoon or evening.