Phase 2 - Fulfill ENS Tokenomics (Draft Proposal)

[accessor.eth]

that just suggest the DAO is here to support somones idea and subscriptions of a service?

[thenftverse.eth]

Is there a community accessible repository where I can access the financial information needed? (financial statements, P/L, agreements, etc) If you can point me in the right direction or provide link to where the information is stored, I can look into performing the cost/benefit analysis. Are you on board with sharing everything with me upon request?

[alisha.eth]

@thenftverse.eth

financial statements, P/L, agreements, etc

For what entity?

[thenftverse.eth]

Not for ENS labs. I am asking about the ENS DAO.

[5pence.eth]

@thenftverse.eth

in which DAO leadership can respond in greater detail

Hey Verse,

I think I know what you’re asking for here, but it would help if you were more specific. The only real formal voice the DAO has is the voting results from proposals. There’s not a “DAO leadership” group to respond to you the way you’re asking. If you want specific feedback from specific delegates, just seek them out politely or tag them and ask for their feedback.

As for the “financial statements, P/L, agreements, etc”, everything the DAO does is on-chain and often discussed here in the forum. Can you be more specific in the ask?

Last thing, what Nick mentioned is important, it’s really your responsibility as the proposer to craft something that can be potentially put to a vote, and you have every right to do that within the constraints of the governance procedures. But the criteria of who/how/when, etc, will all have to be included in the proposal. You’ll need to work that out before you’ll be able to get the kind of specific feedback you’re looking for.

[n0vax]

So how do you imagine a meaningfully decentralized governance will emerge here? Should people buy their right to vote on the ENS token secondary market which isn’t even “supposed” to exist? Is that the plan going forward? Admins of ENS Labs have an overwhelming majority of ENS tokens and if the target users supporting the protocol wish to vote, they are encouraged to purchase tokens via uniswap which creates exit liquidity for the ENS Labs team to continuously dump their ENS “governance” tokens on the target users. How is this not a centralized ponzi scheme. At least corrupted IRL governance does not demand citizens purchase their right to vote.

[thenftverse.eth]

I appreciate the response. This “Temp Check” was created and submitted based off my initial research. If there is a similar “Temp Check” template, considered to be the gold standard, please point me in that direction.

The “draft” submitted wasn’t to be viewed as perfection. Keep in mind, I am exercising my membership and this is my first go at this. I only know the goal I am trying to achieve here, but I am often told it’s wrong, with no similar successful examples to reference. Is it because this is the first of its kind and not comparable to anything in the past?

Any additional guidance would be greatly appreciated.

Thanks,

[neiman]

@5pence.eth

I think I know what you’re asking for here, but it would help if you were more specific. The only real formal voice the DAO has is the voting results from proposals. There’s not a “DAO leadership” group to respond to you the way you’re asking. If you want specific feedback from specific delegates, just seek them out politely or tag them and ask for their feedback.

He was asking about " DAO leadership", I think the Meta-governance stewards are the leaders in this matter, no?

@5pence.eth

Last thing, what Nick mentioned is important, it’s really your responsibility as the proposer to craft something that can be potentially put to a vote, and you have every right to do that within the constraints of the governance procedures.

I expect a bit of a more practical response from the MG stewards. Something along the lines of

• “At the moment, the MG WG is not interested in working on a second airdrop, so we won’t be able to dedicate the resources to get this data”, or
• “The MG WG might be interested to work on a second airdrop, depending on the missing data, contact us for information on how to get it!”, etc.

I can’t imagine anything like this happening without the MG stewards’ support. I also think that if the person does indeed ends up promoting this proposal (with the blessing of the MG stewards), they should be compensated for the effort. Why should we expect anyone to volunteer to do this?

But telling someone who volunteers “heh, you didn’t volunteer enough! work more first!” is not encouraging imo.

[006.eth]

The framing here is incorrect; this is to ensure proper decentralisation of the tokens for voting and governance not for reward.

There have been numerous threads written on twitter that is not discussed here in the forum on the current tokenomics and distribution of tokens between holders and delegates. It is not resilient or robust from the perspective of most observers except people who have been in the DAO from early on.

Also, it’s very tough to justify the time that the larger community has spent for just a few tokens.

The larger community is focused on the core issue which is to ensure that the governance vote is as decentralised as possible ensuring the DAO is resistant to capture.

Either from within or without.

[833.eth]

[quote=“thenftverse.eth, post:1, topic:16556”]

I agree with the proposal’s assertion that using the 5.4m unclaimed tokens can help achieve ENS governance balance, which is essential for a healthy and functioning ecosystem.
I urge you to carefully consider the proposal and take into account the concerns and feedback of the community.

[meta8.eth]

Hi Nick,

Honest question if that’s ok?

Is it a possibility on a technical and lawful level to somehow interact with the ENS token and alter the contract / permissions etc.

Basically, whereby the dynamics and function of each token can be changed to serve a better purpose. ie, none tradable or have an expiry (use by) date written into the contract?

I ask this with the hopes that through creative and intellectual innovation we can potentially evolve and adapt to traverse the inevitable unpredictable nature of crypto markets, and to offer even greater ways to encourage participation and governance from the ever expanding diverse community.

Lastly, I would like to vouch for the ENS CT community from where this proposal has been birthed.
Please try to have more faith and trust towards all of us. Remembering that it is our differences that make us stronger by understanding our strengths and celebrating each other for what we can bring to the table. After all, “ENS is for everyone”, is it not?

We all need each other to coexist in this ecosystem. Because that is after all the true meaning of decentralisation.

Thank you
🫶🏽

[flossin.eth1]

Shouldn’t this be accessible if ENS is truly “decentralized”
Last I checked all this information is made public for publicly traded companies (which are not decentralized)

[accessor.eth]

@neiman

The MG WG might be interested to work on a second airdrop, depending on the missing data, contact us for information on how to get

Nobody is forcing you to do anything in the first place. I think anyone who has tenure in this project has volunteered their time at one point or another. Compensating person(s) for creating a proposal and because they take the time to push it doesn’t seem feasible. That would mean anyone could just come on to the forum and write up some ridiculous unachievable proposal, go pretend to push the agenda behind it and then expect to get paid.

@neiman

I expect a bit of a more practical response from the MG stewards. Something along the lines of

• “At the moment, the MG WG is not interested in working on a second airdrop, so we won’t be able to dedicate the resources to get this data”, or
• “The MG WG might be interested to work on a second airdrop, depending on the missing data, contact us for information on how to get it!”, etc.

I can’t imagine anything like this happening without the MG stewards’ support. I also think that if the person does indeed ends up promoting this proposal (with the blessing of the MG stewards), they should be compensated for the effort. Why should we expect anyone to volunteer to do this?

But telling someone who volunteers “heh, you didn’t volunteer enough! work more first!” is not encouraging imo.

All of these points were have been addressed

[Temp Check] ENS Token 2nd Airdrop

To even vaguely consider any kind of second airdrop, there’d need to be a clearly defined goal, and a clear explanation of how the airdrop would achieve that goal - and how it would avoid being gamed. None of those are present here, and “getting more people involved” and the like are too vague to be meaningful goals.

@accessor.eth

Also please be mindful that; right now – in Q12023, an airdrop is not the main focus of the DAO, people are very busy working on projects that have been discussed for months, people are traveling to conferences and networking with other Ethereans. ETH Denver is coming up, the name wrapper is about to launch.

What you are presenting is a much larger project than most of the DAO would care to focus on right now.
That’s my take on it and I think many people would agree with that.

In the meantime if you feel super strong about this, maybe presenting some questions to the forum like this to start…

1.) What incentive to the community will second airdrop provide?

2.) Looking at the first airdrop, what are some challenges that were faced? What was successful?

3.) How many tokens were sold by recipients immediately after? How was the market affected by that?

4.) How many ENS Governance token recipients still have all or percentage of their tokens today?

5.) How many of those who are still holding are actively taking part in governance discussion on forum ?

6.) What percentage of token recipients have voted at least one time in the past year?

7.) What is the incentive for another airdrop ? Why are the tokens wanted?

8.) Will another airdrop stimulate more people to build or will builders who dont receive them feel left out again?

9.) Should a token claim be open to all .eth holders? Or should we look and measure discussion forum
contribution statistics to use as a weighted reference.

After all the token is for the DAO Governance voting and is not by any means a security.

So who would benefit from a drop more? Individuals who are already contribution daily, weekly and for the past year or allowing someone to claim the tokens and then sell them off into the market without considering contributing to DAO

---

@833.eth

I agree with the proposal’s assertion that using the 5.4m unclaimed tokens can help achieve ENS governance balance, which is essential for a healthy and functioning ecosystem.
I urge you to carefully consider the proposal and take into account the concerns and feedback of the community.

based off what articulate facts?

[thenftverse.eth]

@accessor.eth

After all the token is for the DAO Governance voting and is not by any means a security.

Quick Question for research purposes: First, I applaud your consistency with engagement. I can respect that. With confidence, are you confirming that the token has ONLY been used for voting and in no other reward mechanism?

[nick.eth]

@meta8.eth

Is it a possibility on a technical and lawful level to somehow interact with the ENS token and alter the contract / permissions etc.

Basically, whereby the dynamics and function of each token can be changed to serve a better purpose. ie, none tradable or have an expiry (use by) date written into the contract?

No.

[accessor.eth]

The governance token has one purpose. That purpose is that 1 token is weighted to 1 vote.
The token being distributed to ‘as a reward’ is not a mechanism of the token itself and isn’t defined in the contract or anywhere else.

Each working group has requested ENS tokens to distribute at their discretion in their budget proposals. However the stewards decide to distribute them is up to them.

Is there some further context about research/reward regarding ENS tokens ?

[thenftverse.eth]

This response helps. Duly noted.

[thenftverse.eth]

@accessor.eth

Each working group has requested ENS tokens to distribute at their discretion in their budget proposals. However the stewards decide to distribute them is up to them.

Can anyone assist with pointing me in the direction where I can obtain the ENS distribution data from the above response?

I am not sure what wallets were used to execute these types of distributions.

Thanks,

[gregskril]

The only way funds can leave the DAO’s wallet (0xFe89cc7aBB2C4183683ab71653C4cdc9B02D44b7) is via an on-chain proposal, which gets voted on by owners of $ENS and their chosen delegates.

Delegations happen on the $ENS token contract, 0xC18360217D8F7Ab5e7c516566761Ea12Ce7F9D72.

The creation of proposals and casting of votes is done via 0x323a76393544d5ecca80cd6ef2a560c6a395b7e3, the ENS Governor contract.

There are a number of websites that make on-chain governance data easier to follow, one of which is Tally. The latest request of $ENS from Working Groups can be found here.

[thenftverse.eth]

First, I want to thank the community for all your support. This temp check was the first of its kind to be submitted in an attempt to address the fulfilment of the 1st ENS airdrop.

I have learned a-lot during this submission process; the good, the bad, and the ugly. But most of all, I hope I was able to help people with somewhat of a template when addressing similar topics of concern. This was my first time doing this and I never claimed to be an expert or ignored the fact it wasn’t perfect.

This process seems to have come to a standstill with no other options shared or presented in effort to move into more productive discussion.

If anyone has any questions or if I can ever assist in anyway, please reach out. Thank you everyone who helped out behind the scenes. Thank you to all who responded, liked, or shared any constructive feedback. We are early in this space, so you never know how things may change in the future. I believe in the protocol. I believe in the utility and devs.

I hope soon they believe in the community that stands so strong with them. Peace! Verse Out!