Q3/Q4 2023 Budget: ENS MetaGovernance Working Group

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

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