Summary
Ecosystem spent $842k during the first half of 2023. The Ecosystem Stewards are budgeting $692k for the second half of 2023. Ecosystem Working Group multisigs have sufficient balances to cover planned expenditures. The Ecosystem Working Group will not request funding for Q3 of 2023.
A high level overview of expected and historic spend follows.
Historic Spend
Ecosystem Working Group spent $842k1 during Q1/Q2 2023. See Summary
| Category | USDC | ETH | Total ($) |
|---|---|---|---|
| Grants | 302k | 51.9 | $400k |
| Bug Bounties | 161k | 1.0 | $163k |
| Hackathons | 144k | 0.0 | $145k |
| Support | 73k | 0.0 | $73k |
| Other | 50k | 6.1 | $61k |
| Total | 730k | 59 | $842k |
Expected Spend
| Category | USDC | ETH | Total ($) |
|---|---|---|---|
| Grants | 160k | 90.0 | $331k |
| Bug Bounties | 106k | 0.0 | $106k |
| Audit Support | 100k | 0.0 | $100k |
| Support | 60k | 0.0 | $60k |
| Hackathons | 25k | 0.0 | $25k |
| Other | 60k | 5.0 | $69.5k |
| Total | 405k | 95 | $691.5k |
Grants
| Item | USDC | ETH | Total ($) |
|---|---|---|---|
| eth.limo | 50k | 25.0 | $97.5k |
| ensgrants.xyz | 0.0 | 40.0 | $76k |
| Fellowships | 60k | 0.0 | $60k |
| Misc. | 50k | 25 | $97.5k |
| Total | 160k | 90 | $331k |
eth.limo – Provides support for a privacy preserving ENS gateway for resolving ENS records and associated IPFS/IPNS/Skynet content.
ensgrants.xyz – Small grants to builders in ecosystem that are decided based on community voting.
Fellowships – Funding for talented builders who have shown consistent dedication to ENS by shipping.
Misc. – Fund builders of libraries that support ENS like normalization and CCIP.
Bug Bounty
During this term bug bounty program will be moved to immunify, we plan to hand over 220k to immunfi to manage, requiring a 106k top up.
Audit Support
Open source ENS projects benefit from having experts review contracts to materially reduce the risk of exploits. A portion of this category is soft allocated to auditing L2 resolvers on optimism (created by dm3).
Support
Support mods for social platforms, technical and non-technical educational and archival content.
Hackathons
Most hackathon spending is pre-paid for the year, and was covered in the prior term. On a yearly basis this category amounts to 150k-200k/year.
Other
Catch all category that also include IRL events.
A Note On Reporting
The ecosystem stewards look at categorical spending in addition to multi-sig spend during the budgeting process. We believe that having roll up categories is helpful. For example, grants occur across several multisigs and knowing that ecosystem spent 400k during the first of 2023 on grants is helpful.
Current Balances
Ecosystem Working Group multisigs have the following balances2.
| Multisigs | USDC | ETH |
|---|---|---|
| ens-ecosystem.pod.xyz | 293k | 208 |
| ens-buildors.pod.xyz | 157k | 38 |
| ens-grants.pod.xyz | 160k | 4 |
| ens-irl.pod.xyz | 52k | 10 |
| hack.ecosystem.enswg.eth | 90k | 19 |
| ens-support.pod.xyz | 96k | 19 |
| ens-bugbounty.pod.xyz | 114k | 0 |
| ens-merch.pod.xyz | 41k | 5 |
| 1.0m | 303 |
The following table outlines the purpose of each multisig:
Multisig Descriptions
| Multisig | Description | Multisig Signers or Lead Singer |
|---|---|---|
| ens-ecosystem.pod.xyz | Main Multisig of the ENS Ecosystem Working Group | Stewards |
| ens-buildors.pod.xyz | Pod dedicated to supporting builders | slobo.eth |
| ens-grants.pod.xyz | Small grants funding for ENS proposals on ensgrants.xyz + evergreen integration bounties | Stewards |
| ens-irl.pod.xyz | Funding In Real Life events that coincide with the existing Ethereum event schedule + funding IRL community meetups | limes.eth |
| hack.ecosystem.enswg.eth | Sponsorship costs and prize money for hackathons and conferences | ens.alisha.eth |
| ens-support.pod.xyz | Support mods for social platforms, technical and non-technical educational and archival content | validator.eth |
| ens-bugbounty.pod.xyz | Pays out small to medium bug bounties | nick.eth |
| ens-merch.pod.xyz | Subsidizing the cost of creating and shipping physical ENS merchandise including shirts, hats, and pins | Stewards |
1 $1,900/ETH
2 As of July 21, 2023.