Steward’s View - Fireeyesdao.eth
The FireEyes core team and I have spent significant time reviewing all proposals (pre-selection) as well as all final proposals.
Although setting up an endaoment for the ENS DAO is a novel and important step in the progression of the community & treasury, the process and amounts being discussed currently feels like an overstep.
To put our opinion up front, we will be voting ‘none of the above’ and believe the ENS DAO should start with a smaller, more purposeful allocation towards an endaoment.
This RFP sparked great discussion along with A+ proposals from submitters; however, no major DAO has adopted this strategy, and being the first to do so with a majority (80%) of the treasury feels very risky considering the max upside of 1-5% apy outlined by the proposals.
Instead, we want to propose conducting an initial stage, using a smaller amount of the treasury as a test case (~5-20%).
This allows for the community and the operators to implement the Endaoment in practice and iron out any issues without risking 80%+ of the treasury. If successful, the community can vote to allocate more funds in the future.
Another point worth noting is the voting policy of the rank choice voting, although Nick wrote a full explainer here, this type of brand new vote policy is naturally more complex than previous votes and the 1st, 2nd, 3rd rank elimination isn’t easy to understand (thus the graphics and post being needed). Introducing a different style vote system on such an important vote is another final reason why we will be voting ‘none of the above’
Overall the time and energy from the entire ENS community that has gone on here is an incredible testament to the decentralisation and success of the ENS DAO, however in our opinion conducting a more purposeful first step makes more sense.