Introduction
The goal of this report is to provide a “Cash Basis” spending overview for Q4 of 2024.
A live view of balances of ENS Working Group wallets can be seen at enswallets.xyz.
Spending
All Working Groups
The USD equivalent of total working group spending for Q4 was $888k. USD price conversions for both USDC and ETH are made at the time the respective transactions occur. Numbers in diagrams are rounded to the nearest thousand.
Ecosystem
The Ecosystem working group spent 294,091 USDC and 45 ETH during Q4.
Spending Across Initiatives
The diagram below depicts Ecosystem Working Group spending in detail.
Services
Services include payments for discord moderation, newsletter curation, and DAO social media management on X and Farcaster.
Events
The Ecosystem Working Group sponsored the social event at frENSday and stewards had presence at Devcon. Additionally, $10k in hackathon prizes were given out at ETH Global Online and ETHRome.
Grants
The grant spending during Q4 consisted of participation in Gitcoin Grants Round 22, three minigrants, and several individual grants that can be seen in the Term 5 Grants Summary.
Audit Subsidy
The Ecosystem Working Group sponsored the audit costs of the contracts that enable .box to be nativley onchain.
Misc
Other expenses were sponsorship of ENS names for ETH Global hackers and sponsorship of “The Last Hackathon”, A web3 hackathon documentary.
Meta-Governance
The Meta-Governance working group spent 250,190 USDC during Q4.
Spending Across Initiatives*
The diagram below depicts Meta-Governance Working Group spending in detail.
Events
Events includes costs associated with irl presence at frENSday/Devcon.
DAO Tooling
DAO Tooling consists of costs associated with tools needed for DAO functions such as automation, voting, and coordination. Q4s tools consisted of ENS Ledger and the Karma plugin that enables a voting view on the ENS forum.
Compensation
The Meta-Governance working group funds compensation to working group stewards, secretary, and scribe as provisioned in the ENS DAO Steward Compensation forum post.
Contract Audits
Audit subsidy includes the USDC paid to Code4rena for the audit of Unruggable Gateways.
Public Goods
The Public Goods working group spent 170,500 USDC during Q4.
Spending Across Initiatives
The diagram below depicts Public Goods Working Group spending in detail.
Grants
Public Goods grants were distributed to Large Grants recipients for milestone completions. You can check out the projects, progress, and milestones on Questbook.
Events
Events includes costs associated with irl presence at frENSday/Devcon.
DAO Tooling
DAO Tooling consists of costs associated with running the Public Goods large grants program.
Governance Distribution
Ecosystem
The Ecosystem Working Group distributed 4,000 ENS tokens during Q4.
This governance distribution was related to the the Term 5 grants closeout, where all term 5 grant recipients received ENS tokens for their contributions in 2024.
Meta-Governance
The Meta-Governance Working Group distributed 576 ENS tokens during Q4.
The Meta-Governance Working Group distributed 576 ENS tokens in Hedgey Vesting contracts as an initial test transaction for the [EP 5.26] ENS Governance Distribution.
*2/12/25: Updated MG Sankey image to reflect different working group steward, secretary, and scribe spending. Differences between steward compensation in working groups is related to the resignation of Avsa as steward, who chose not to take November and December compensation.
Additionally, an adjustment was made to reduce MG Steward Compensation by $4k, as 4,000 USDC was returned to the Meta-Governance multisig for a steward payment made to Avsa in December.