I’d like to call on all ENS delegates to discuss and reach a decision on this topic. At this point, there is a real opportunity to both reduce exposure to extrinsic assets and decrease reliance on the centralized gateway known as the Security Council, while also strengthening the DAO Treasury financially.
Converting a portion of the DAO Treasury into ENS tokens as a long-term holding—especially at current price levels—offers a multi-year financial opportunity, in addition to reinforcing sovereign governance. These ENS holdings could also be used for development and growth purposes in the future as a last-resort funding option.
ENS/ETH market cap is at multi-year lows:
and ENS market cap in USD is also at multi-year lows:
While the decision to retain the Security Council will formally come up again when its term expires, today presents a better opportunity to evaluate this path, both in terms of governance design and market conditions.