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.
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.
The Ecosystem working group spent 729,181 USDC and 59 ETH across 5 categories
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.
|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:
|Small Grants Winners||0||34.6||$66k|
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
|TERM 1 2023 MG SPENDING||281,000||29.4||$337k|
The Meta-Governance working group funds compensation to DAO stewards and secretary as provisioned in the Metagovernance Term 1 2023 Budget Request.
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 are costs paid to Karpatkey for managing the ENS treasury. Results can be seen in Karpatkey’s weekly endowment reports.
The Public Goods working group spent 311,614 USDC and 45 ETH
|TERM 1 2023 PG SPENDING||311,614||45||$398k|
Public Goods Grants are broken into the following categories
|Small Grants Winners||0||30||$57k|
The funds spent in the public goods budget went to Schelling Point at ETH Denver to support public goods.