Spending Summary - Working Groups Term 1, 2023

Spending Summary - Working Groups Term 1, 2023


On January 30th, 2023 EP3.2 passed an on-chain vote which funded the working groups for Term 1 of 2023.

The following chart and table will provide an overview of working group spending during the term.

All Working Groups

Combined Spending

The total working group spending was $1.6m through June 30th, 2023, using a rounded term-end price of $1,900/ETH and $1/USDC.

Individual Working Groups

ENS Ecosystem

The Ecosystem working group spent 729,181 USDC and 59 ETH across 5 categories

Spending Across Initiatives

Spending occurred across all ENS Ecosystem multi-sigs as defined in the Ecosystem Term 1 2023 Budget Request. This chart depicts spending rolled up into meaningful categories to broadly illustrate the use of funding this term.

Category USDC ETH Total ($)
Grants 301,500 51.9 $400k
Bug Bounties 161,000 1.0 $163k
Hackathons 144,583 0.0 $145k
Support 72,520 0.0 $73k
Other 49,578 6.1 $61k
TERM 1 2023 ECO SPENDING 729,181 59 $842k


This category combines several grant initiatives including ENS Fellowship, Monthly Small Grants, and Rolling Grants provided to top ENS projects. It funded numerous projects throughout the term, including, Namehash, Unruggable Subdomains, ORG3, and 1w3.

Grants can be further separated into the Ecosystem Working Group’s grant initiatives:

Category USDC ETH Total ($)
Rolling Grants 134,375 1 $136k
eth.limo 85,000 10 $104k
Fellowship 60,000 0 $60k
Small Grants Winners 0 34.6 $66k
Other 22,125 6.3 $34k
Grants 301,500 51.9 $400k

Bug Bounties

During the term, ENS used a bug bounty program where if someone were to find a bug, ENS leaders would gather to determine the value of the report and ecosystem would compensate them for such report. Multiple bugs were reported during the term and compensated.


The largest expense in the hackathon category was the partnership made between ENS and ETHGlobal, securing the protocol spots and sponsorship at all ETHGlobal events. The Ecosystem Working Group additionally supported the Encode College Hackathon.


These funds were used to support ticket coverage across the ENS Discord, Twitter, and governance forum that keep ENS informed and organized.


The Meta-Governance working group spent 281,000 USDC and 29.4 ETH

Category USDC ETH Total ($)
DAO Compensation 172,000 0.0 $172k
DAO Tooling 80,000 0.0 $80k
Endowment Fees 0.0 29.4 $56k
Other 29,000 0.0 $29k
TERM 1 2023 MG SPENDING 281,000 29.4 $337k

DAO Compensation

The Meta-Governance working group funds compensation to DAO stewards and secretary as provisioned in the Metagovernance Term 1 2023 Budget Request.

DAO Tooling

Costs associated with tools needed to used for DAO functions such as voting and coordination. A majority of this cost is associated with the funding of an ENS proposal creation interface currently being built by Agora.

Endowment Fees

Endowment Fees are costs paid to Karpatkey for managing the ENS treasury. Results can be seen in Karpatkey’s weekly endowment reports.

Public Goods


The Public Goods working group spent 311,614 USDC and 45 ETH

Category USDC ETH Total ($)
Grants 300,000 45 $386k
Hackathon 11,614 0 $12k
TERM 1 2023 PG SPENDING 311,614 45 $398k


Public Goods Grants are broken into the following categories

Category USDC ETH $ Total
Large Grants* 200,000 15 $229k
Small Grants Winners 0 30 $57k
Gitcoin Grants 50,000 0 $50k
Growth Grants 50,000 0 $50k
Grants 300,000 45 $386k
*Large grants to be paid out post-successful KYC.


The funds spent in the public goods budget went to Schelling Point at ETH Denver to support public goods.