MetaGovernance Working Group Budget for Q3/Q4 2023
This post outlines the Meta-Governance Working Group’s budget for the upcoming term, Q3/Q4 2023. There will be no associated funding request as these currently projected needs can be filled by funds already in the MetagGov WG multisigs.
Below we’ve outlined the previous term’s projected budget and actual spend, as well as the planned budget for the upcoming term. Descriptions of various categories can be found below the tables.
Previous Term Q1/Q2 2023 (for comparison)
| Category | Planned USDC | Planned ETH | Actual USDC | Actual ETH |
|---|---|---|---|---|
| Working Group compensation | 184,000 | 0 | 184,000 | 0 |
| Governance | 40,000 | 30 | 0 | 9 |
| DAO Tooling | 80,000 | 50 | 75,000 | 0 |
| DAO Sponsorship | 60,000 | 10 | 18,500 | 0 |
| MetaGov WG Discretionary | - | 35 | 2,000 | - |
| Endowment Management Fees | - | - | 40 | |
| Total | 364,000 | 125 | 279,500 | 49 |
Q3/Q4 2023 Budget
| Catagory | USDC | ETH |
|---|---|---|
| Working Group Steward compensation | 202,800 | |
| Governance | 83,500 | |
| DAO Tooling | 91,000 | |
| Sponsorships | 15,000 | |
| MetaGov WG Discretionary | 127,508 | |
| Endowment Management Fees | 60* | |
| Total | 519,808 | 60 |
Catagory Descriptions
- Working Group Steward Compensation - Compensation for Working Group stewards and the Working Group secretary
- Governance Reimbursements - Fee reimbursements and initiatives related to reducing friction in the governance process. Examples include the gas fee reimbirsements for voting or delegation changes, or reimbursements for proposal submissions and execution.
- Tooling - Developing interfaces and dashboards to improve the governance process and increase transparency across the DAO. Examples are agora.ensdao.org and a proposal interface for the Executable and Social proposals.
- DAO Sponsorship - Sponsoring DAO-specific events such as DAO NYC, DAO Tokyo, the Aragon DAO Hackathon etc.
- Discretionary - Funds distributed at the discretion of stewards towards new initiatives + governance experiments from the MetaGov Working Group Multisig.
- Endowment Management Fees - Fees paid to vendors or service providers for treasury management services. The current treasury management services are provided by Karpatkey and Steakouse per [EP 2.2.5] with strategies described in this post here. The projected fees are based partially on total Assets Under Management, so if the 2nd tranche of treasury funds are moved to the Endowment, the fees will increase beyond this projection (as will the total amount yielded).
$ENS Governace Token Distribution
The MetaGov Working Group continually evaluates distribution of $ENS governance tokens to our various partner projects and contributors whose contributions allow for, and improve, DAO and Working Group operations.
In 2023, the MetaGov WG has distributed the following $ENS to DAO-related projects through the DAO-tooling pod:
Tally - 5,000 $ENS
Parcel - 3,000 $ENS
Metropolis - 1,000 $ENS
The goal of $ENS distributions from the MetaGov WG is to increase ENS DAO participation from key DAO-related projects, who continue to build the infrastructure that the DAO relies on.
At this time, no additional $ENS tokens are being requested from the treasury. The balance of ~4,200 tokens currently in the MetaGov WG wallets will be distributed throughout this term.
Current Metagov Wallet Balances
| Address | ETH | USDC | $ENS |
|---|---|---|---|
| ens-metagov.pod.xyz | 1 | 313,053 | 1,990 |
| ens-governance.pod.xyz | 32 | 83,500 | 1,250 |
| ens-daotooling.pod.xyz | 0 | 91,000 | |
| ens-endowmentfees.pod.xyz | 110 |