Proposal: ☠️Bored ENS Yacht Club☠️

[ENSPunks.eth]

Bored ENS Yacht Club​:skull_and_crossbones:

tags: ENSgrants proposal

Description

Provide an ENS grant to Bored ENS Yacht Club (BENSYC) to act as an experimental community sub-DAO within ENS.

Abstract

BENSYC is the first ENS 10K subdomain collection where the subdomain NFT is your membership to the club.

BENSYC’s primary purpose is to provide the ENS community with a light-weight, experimental ENS subdomain project that has sufficient features for the holders to form a community sub-DAO within ENS. Upon reaching full functionality, BENSYC sub-DAO will enable the holders to vote as a single delegate within ENS DAO.

To fulfill its role of an actively voting community sub-DAO, BENSYC will focus on onboarding the community to the ENS DAO and educating the community on all matters taking place within the ENS DAO, ENS DAO Forum, and ENS DAO Working Group Meetings.

In addition to DAO onboarding, DAO education, and DAO voting, BENSYC aims to explore experimental ENS use cases – especially of ENS subdomains, and potentially support the ENS builders through BENSYC grants supported by monetised fractional tokens.

Technical Description of BENSYC

Architecture

Bored ENS Yacht Club (BENSYC) at its core is fractionalised ownership of two domains BoredENSYachtClub.eth (long name) and BENSYC.eth (short name). Each domain has been fractionalised into 10000 subdomains with subnode labels (= token ID) from 0 to 9999. Subdomains with similar labels in both domains are “name-bound”, i.e. ownership of token ID <label> on long name guarantees ownership of same label on short name.

The “name binding” is achieved through a CCIP contract that maps the attributes of the long name to the short name. CCIP contract also manages the mapping of the Resolver and ensures that all records set on the long name are automatically mapped gasless-ly to the short name.

BENSYC features its own custom Resolver that comes with two preset records: avatar and contenthash.

• BENSYC avatars are a set of 9 traits mapped by the properties of the subdomain label. 7 traits have already started minted while 2 are yet to begin minting at the moment of writing.
• All BENSYC subdomains have contenthash set which can be accessed through a web2 gateway. In v1, this subpage (= contenthash) is home to the records set on the subdomain. Consequently, each BENSYC subdomain will have its own automatically generated decentralized website on both names. In future versions, subpages will feature interactive content (with some latency) for the club members to interact over.

Public Goods Activities

• ENS DAO Educational Twitter Spaces

BENSYC will host weekly Twitter spaces to provide the community a briefing on the weekly ENS DAO Working Group Meetings, discussions in the DAO Forum, and any/all pending votes. This will allow the club to vote informatively as a delegate.

• Onboarding ENS Community to the ENS DAO

ENSpunks.eth, one of the co-founders, has been actively onboarding the community to join the ENS DAO Forum, has encouraged participation in the DAO Forum and weekly ENS DAO Working Group meetings.

• Funding the Community

BENSYC as an ENS Community sub-DAO can fund the ENS community of builders and content creators.

Current state of Bored ENS Yacht Club

A. A collection of 10,000 Bored ENS Yacht Club subdomain NFTs began to mint at a price of 0.01 ETH each on Sept 9, 2022 12:00 UTC.

• 20% of the mint price goes to the Founding Team
• 80% of the mint price reserved for the BENSYC Community Treasury

B. BENSYC Community Treasury is the 3/4 multi-sig managed by the founders at the start of the project. In due time as project matures, the treasury will be migrated to the sub-DAO Governor contract.

• 50% of all proceeds from the mint will be transferred to the Community Treasury and converted to $ENS tokens to be delegated to BENSYC.
• The remaining 50% of all proceeds from the mint will be held as ETH in the Community Treasury for long term sustainability of BENSYC and ongoing development.

$☠️ $🦍 $🧪

BENSYC is experimenting with the use cases of fractionalizing ENS domain ownership to create community tokens.

$☠️

coin.eth was fractionalized into 999 $:skull_and_crossbones: tokens and $:skull_and_crossbones: tokens collectively own coin.eth. The 999 $:skull_and_crossbones: tokens have been used as something of a POAP token built right off of fractionalizing an ENS name and has been used in part for giveaways to increase project awareness pre-mint and as an airdrop for the first users that mint BENSYC subdomains.

$🦍

🦍coin.eth will be fractionalized into 1 billion $🦍 tokens and $🦍 tokens collectively own 🦍coin.eth.

🦍coin.eth can be purchased by anyone & will start with a purchase price of 10,000 ETH. Holders of $🦍 tokens will have a right to vote on the purchase price of 🦍coin.eth. Upon conclusion of BENSYC 10k subdomain mints, 50% of $🦍 will be airdropped to the BENSYC subdomain owners through a “claim process” (similar to the $ENS token airdrop) and 50% of $🦍 will go to the BENSYC community treasury. BENSYC subdomain holders may vote to use the community treasury as a source of grants for builders & creators from the ENS community.

If 🦍coin.eth is bought out, then $🦍 will become pegged to the purchase price and $🦍 holders will be able to swap $🦍 for the proportional share of ETH from the 🦍coin.eth buyout.

$🧪

Upon the BENSYC 10K subdomains minting out, the founding team might have an additional surprise.

Excerpt from the ENS DAO Constitution

Article III. Income funds ENS and other public goods

Any income generated to the ENS treasury is to be used first of all to ensure the long-term viability of ENS, and to fund continuing development and improvement of the ENS system. Funds that are not reasonably required to achieve this goal may be used to fund other public goods within web3 as ENS governance sees fit.

Funding & Grant Budget

ENSpunks.eth respectfully requests that the ENS DAO support BENSYC project by funding BENSYC for the work completed and the ongoing constructive experimentation, development & operations of BENSYC built on ENS for the next 6 months as a Public Good bridging the ENS DAO & ENS Community.

Request:

30,000 USDC in two rounds pending review at the end of each round

[accessor.eth]

I’m not seeing this as a viable way to onboard individuals to ENS. If I am reading this correctly, you are suggesting that the ENS ecosystem uses Yuga Labs Bored Ape Yacht Club Project / Theme as a repeating information system? You are asking for $30,000 USD to create a sub-DAO under ENS Working Group which is also under ENS DAO. I’m curious to hear more on how you plan to use the Bored Ape YC image to onboard people into ENS.

A lot of this is already taking place with ENS Newsletter, ENS Office Hours as well as looking forward to the upcoming official ENS Blog for dispersing information and providing updates Ecosystem anymore than what the ecosystem is currently providing. Looking at the current landscape of the entire cryptocurrency market, there is absolutely no shortage of tokens to choose from. Along with that I see the market having more of a neutral price action for the next 8-12 months at least. Fractionalizing NFTs seems to only work for NFTs that when sold as a unit of 1 – are very expensive, around the $100,000 range. How will fractionalizing a ENS name be of use to a person who owns–lets say 1/10th of its whole?

If a project is experimental; in the sense of testing the functionality on token mechanics, I suggest using the testnets. If you were to test the architecture of your project, what would indicate fulfilling full functionality?

I would much rather see experiments involving soulbound tokens, or using ENS names to somehow integrate with Beacon Chain Validators. Or–on that note-- implementing a smart contract that that uses fractionalization as a way to stake ETH from multiple addresses in DeFi pools or even to become a single validator from multiple contributors.

Ultimately using DAO funds to launch a project to hopefully generate income so that the project owner(s) can; ask fractionalized owners to delegate ENS tokens to them and giving the project team members voting power in the ENS DAO–is outside of the scope of the purpose for your light-weight experimental project.

[meta8.eth]

Hello Accessor

With all due respects, I feel that your response to this post though being very eloquent and detailed does indeed lack one key element from which your argument can be trusted and or validated…Do you even know what the community needs and or wants?

I for one do not claim to know the answer, however I can attest to the fact that I have spent many many hours over many many months this last year listening and talking when possible, networking and brainstorming with the ENS communities via Twitter spaces. Which to my understanding is essentially the “Front Line” of Web3 and crypto onboarding.

Alas, I do not recall seeing/talking to you, or hearing of anybody else in the communities that I frequent ever mentioning you…Now, Please do forgive me if I am missing something here and or the Algorithm has been playing some wicked trick on us and have not yet allowed us all to connect.

It is my firm belief that ENSpunks is one of the most respected and highly regarded individuals (although some would argue he has the enthusiasm, heart and brain of 10 or more people!) in the space…the BENSYC project is a true reflection of his genuine understanding of how ENS can be utilised and adapted into a multitude of very logical and reasonable onboarding techniques.

Perhaps you should come and join us in the Trenches (spaces) a few times to listen to what’s being said and how things are being said…I would love to chat to you if and when possible. You clearly have a brilliant mind and a very high level of understanding with this Realm.

Stay curious, not judgmental…

🫶🏽

[ENSPunks.eth]

First BENSYC does not use any Bored Ape imagery or IP.

Second I love the ENS DAO Newsletter, I am a big supporter of the creator/entire team and a contributor the last two rounds on GitCoin grants. That said the ENS DAO Newletter does not accomplish what BENSYC accomplishes from a technical perspective nor does it actively liaise with the community directly through weekly Twitter Spaces to advocate for DAO onboarding as intended with BENSYC (and I currently do in my personal capacity).

BENSYC offer 10K subdomains (technically 20k because we namebound an NFT + BoredENSYachtClub.eth subdomains + BENSYC.eth subdomains). The Newsletter does not offer subdomain nor intend to as far as I know. Our 10K club will actually carry certain voting rights primarily the ability to delegate the Clubs $ENS tokens for voting.

Our project also include 20K automatically generated ENS websites for each and every subdomain that will be minted. Since the launch of BENSYC our team discovered a bug in ethers.js related to CCIP a GitHub issue was created and the bug was fixed. Now you can visit subdomain ENS websites on both the long and short version, for example:

0.BoredENSYachtClub.eth.limo
&
0.BENSYC.eth.limo

Just yesterday our devs also doubled the total number of ENS names with content records set so any ENS name with a content record is resolvable as a subdomain on BENSYC.eth (except the club subdomains 0-9999), for example:

Vitalki.BENSYC.eth.limo (try any other ENs with a website as a subdomain)

The fractional component you’re focusing on is directly related to ENS experimentation for purposes of creating a grant token backed by an ENS asset that can be bought out of the fraction contract.

As it relates to ENS DAO onboarding…

I have attend a few ENS working group meetings recently and it was acknowledged that attendance has been at record highs recently and I was personally acknowledged for my efforts onboarding people from the ENS community to the DAO and into the Working Group Meetings.

I love ENS, I love the community, I put in the work, and I believe the value me and my projects create for the ENs community and ecosystem are indisputable. I am asking for support to continue my work, but I can not do so on a voluntary basis.

[shawked.eth]

I minted several of the BENSYC domains on the day of launch and I’m a proud supporter of this project. I love the idea of a project that utilizes subdomains as it creates a sub-ecosystem within ENS for other like-minded users to interact and engage. Any club that gives back to its members and the community as a whole (% back to Public Goods) is viable to ENS and should definitely be considered by the DAO. Excited to see how this project grows in the future!

[accessor.eth]

@meta8.eth

With all due respects, I feel that your response to this post though being very eloquent and detailed does indeed lack one key element from which your argument can be trusted and or validated…Do you even know what the community needs and or wants?

Thank you.

I don’t think that what i’m trying to explain is extending. I’m aware that the newsletter isn’t a technical or code intensive process. Also, I’m glad to hear that your efforts have been acknowledged. That is good we need that for more people on a continual basis.

Yes, I think that I do know what the community needs or doesn’t need rather. The community does not need another community within the community within the community that already exists so that that the person who creates the sub-sub-community can add another layer or degree of complication for voting on proposals regarding ENS and the communities sub communities. I don’t believe that continuing to add layers of projects on top of what has been previously built should be funded by the DAO.

Your projects mechanism is:
(speculatively)

Receive $30,000
Mint out subdomains
Sell portions of a domain name?
Keep 20% for personal
Convert remaining 50% into ENS tokens
Put 50% in the projects ‘savings’ account

Ideally you are asking the DAO to fund tokens for your use in DAO wide voting

@ENSPunks.eth

First BENSYC does not use any Bored Ape imagery or IP.

The DAO should keep a distance when it comes to funding a projects that implement ideas, imagery or the namekeep from projects that have become disruptive to the Web 3 space. There is a conflict of interest here and the representation of Bored Ape Yacht Club is clear in the imagery also to include the title of your project. Given the social dismay, debates and accusations of BAYC and the project alledgedly and speculatively beinng affiliated with a racial hate and pro-violence entity, I personally and professionally would advise against affiliation.

I’m not here discredit you or distract you from your own personal goals.

@ENSPunks.eth

The fractional component you’re focusing on is directly related to ENS experimentation for purposes of creating a grant token backed by an ENS asset that can be bought out of the fraction contract.

I really do not understand how this works.

Your sentiment and passion for the project is absolutely valued but I don’t believe those reasons to be justifications on why the project needs funding. If you feel that you deserve to be compensated retroactively based on your obvious dedication and the time you allot to the ecosystem, then let’s do that. I think there are many people who deserve to benefit from their altruism in the the ENS Ecosystem from an articulated criterion.

I think that this should be revised and establish a more detailed context for the mechanism of how all this is to work. Then submitted as a draft proposal, according the current Governance Process Docs

[184.eth]

One way ENS moves forward is through the creation of other communities and the dao being welcoming of many visions.
It’s my understanding ENS does not gatekeep what it possible nor poo poo the ideas & developments of those participating & building.

Community benefits to maintain openness, without talking down. The tone and language being used is diminishing and presents condescendingly.

ENSpunk proposal is a unique way to bring more participation to governance. And may well be the way to capture those that would not choose the single path currently available.
Furthermore, this may not be the only project to do this, and so as a first it presents - under steward of an invaluable active community member like enspunks - an opportunity to explore those outcomes.

Soulbound token projects may show up as another’s proposal - or they may not. This isn’t a choice of one instead of another.

Web3 is disruptive. In Crypto ‘ape’ is derived from trading, and use of ’bored’ and ‘yacht club’ are now wide reaching and as synonymous to crypto as ‘punks’ are.

ENSpunks stated this ENS project has no use of bored ape imagery or IP. Association and portrayal of these negative connotations alongside warnings to avoid this project without further enquiry, occurs as making a false and damaging statement. Additionally attaching meaning on those who are participating. In good faith, the text could be revised and respectful.

ENSpunks endeavours have onboarded many, and have accelerated those already onboard to do more with their .eth and take active participation. ENSpunks put their money on the line, lifts up other builders, and is a thoughtful, intelligent, respectful and a generous person in this space.
They are not asking to be rewarded because of all that - but rather, judge of character & performance go a long way along with the merit&performance of a proposal in line with dao initiatives.
This proposal/discussion is not about comparing one person to another or choosing one person over another.

Well done ENSpunks on continually exploring and expanding how to bring people into ENS, their participation and growing us all.

[accessor.eth]

I don’t believe that I have said anything offensive. I am not the ultimate decider of anything. Please quote my words that have caused you harm so that I can correct them.

[meta8.eth]

Beautifully put. Thank you 184.eth for this.

[daylon.eth]

I think this is an interesting project, but in my opinion it shouldn’t receive funding from the DAO. Specifically because of this part-

@ENSPunks.eth

• 20% of the mint price goes to the Founding Team
• 80% of the mint price reserved for the BENSYC Community Treasury

Doesn’t hurt to ask, but this seems more like a commercial endeavor than an effort to on-board users to ENS, even if that is a side effect.

I think projects like this are self-sufficient enough to not warrant funding from ENS DAO. It’s cool though.

[meta8.eth]

I encourage you to actually come and listen and or talk with the Twitter ENS spaces/community - this will be the best way for you to see for yourself that this is far far from a simple commercial endeavour

Your comment comes off as being very presumptuous and narrow minded.

Be curious, not judgmental

🫶🏽

[daylon.eth]

Can you please stop derailing discussions with how you feel other comments come across? This thread was created to ask for feedback and I gave mine. I follow a lot of what Punks does on Twitter and I don’t need you calling me narrow minded for having a different opinion than yours.