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Newsletter Roundup (tl;dr)
ENS Labs Update: Gasless DNSSEC Support
Community Updates: IRC aquires irc.eth, DNS to ENS tutorial
Meta-Governance: Endowment and Financial Report
Public Goods: Budget Status
Ecosystem: Multi-Delegate Contract
Welcome to the ENS DAO Newsletter:
New editions — published bi-weekly (Tuesday)
Previous editions are archived on the ENS DAO Archive.
New proposals are broadcasted to Telegram.
ENS DAO Dashboard is now available for public review.
Submit feedback — tell us what to feature!
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Refer to ENS DAO Calendar for ENS DAO working group calls and other events.
Calendar: Public Access / Access with Gmail
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The Meta-Governance Working Group maintains a proposal summary on the Term 5 Dashboard, a community resource aimed at helping navigate DAO governance and working group initiatives. Please continue to check the Dashboard intermittently as initiatives evolve to stay up to speed.
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The first Voting Period of Term 5 is coming soon. To participate, choose your delegate or opt to self-delegate at any of the following sites:
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Note: A minimum of 100k $ENS is required to submit executable proposals. Once a proposal gains momentum, the stewards will prioritize it for a vote during the designated voting window. See our Governance Docs for more information. To view the real-time distribution of voting power among delegates, visit votingpower.xyz.
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In December 2023, ENS continued its growth with 23.4k new .eth domain registrations, bringing the current total to 2.1m names. Protocol revenue reached $1.36m for the month, with all proceeds benefiting the ENS DAO. The number of new Ethereum accounts with at least one ENS name rose by 18k, culminating in a total of 800k. Primary ENS names set during this period tallied at 16.8k, contributing to an overall count of 701k. Additionally, 4.6k new avatar records were established, rounding up the total to 143k.
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Nick.eth has published a draft proposal for a significant upgrade to ENS’s DNSSEC functionality. The proposal aims to introduce ‘gasless’ DNSSEC, a feature which allows DNS names to enable ENS support through DNS text records. This user-centric update is scheduled for the upcoming Voting Period later this month and marks a step towards enhancing the accessibility and efficiency of ENS. — 01.04.24
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In a recent article, TechCrunch discussed Puma’s foray into Web3, highlighting its February 2022 registration of the ENS domain “Puma.eth.” This strategic move underlines Puma’s commitment to establishing a foothold in the Web3 arena, acknowledging the significance of digital identities and user-friendly Ethereum addresses. The article sheds light on Puma’s wider initiatives to remain at the forefront of the digital landscape’s evolution. — 01.02.24
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The International Rescue Committee, a global humanitarian aid organization has acquired the irc.eth domain, enabling simpler crypto donations. This move leverages ENS for simpler transactions and highlights the potential of ENS in charity. IRC is pioneering this tech among NGOs for global fundraising. — 01.08.24
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Last month, ENS Labs joined DeGods at the ENS Builder BBQ at deBasel, an exclusive Web3 Builders’ event hosted by ENS Labs. Taking place in Miami Beach, this event connected leaders in the Web3 space. ENS’s Head of Product and Strategy, Eskender, talked with Zack from Genzio to discuss the impact of ENS on Web3 and its support for thriving communities like DeGods. Watch the full interview. — 01.11.24
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MailChain, a Web3 communication layer, integrated with ENS to send timely alerts for ENS domain expiry, ensuring users don’t lose their Web3 identities by missing renewals. — 01.03.24
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Vitalik.eth recently emphasized the importance of Layer 2 solutions for ENS, highlighting the need for trustless and merkle-proof-based CCIP resolvers for affordable ENS accessibility. In addition, Jefflau.eth also emphasizes its cross-chain compatibility and its effectiveness on Layer 2 solutions that anchor their state roots to Layer 1. — 01.03.24
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ENS DAO shared a tutorial on importing DNS into ENS on X ahead of the upcoming Gasless DNSSEC update. The DAO aims to provide a straightforward guide for users interested in integrating their Web2 domain with ENS. Check out the tutorial here. — 01.06.24
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Jefflau.eth recently listed use cases for ENS names, including identities and business branding, high-value websites/apps, and public good contracts. Subnames can also be trusted or trustless for sub-communities and NFT communities. He detailed further that the ENS stack is permissionless, allowing users to choose the right flavor for their needs. — 01.07.24
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Onthis.xyz leverages ENS to provide an Arbitrum Shortcut Bridge. Users can bridge ETH to Arbitrum directly from their wallets, eliminating the need for external bridging websites. The process is simple: send ETH to toarbitrum.eth on mainnet and receive ETH on Arbitrum. Additionally, users earn points with each shortcut transaction. — 01.09.24
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3NUM, the pioneer of Web3 Mobile Numbers, will soon launch its beta app, allowing users to set their favorite ENS Name as their Caller ID for any phone number. — 01.10.24
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Matoken.eth, a core developer at ENS Labs, was recently interviewed by Sunny from Tech Flow Post, a Chinese Crypto Media publication. The interview focused on the crucial role ENS domains play in Web3, shaping its name, website, and identity. — 01.11.24
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3DNS, launching next week, merges domain names & blockchain. 3DNS decentralizes domain management and introduces Boxdomains, the first fully-onchain ICANN compliant TLD. Features include onchain registration, tokenization, crypto payments, and instant ownership transfers. — 01.11.24
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Hidayath.eth is working on ensrecords.eth, a Layer 2 solution for ENS record management. This solution is being designed to enhance the ENS experience by providing fast, cost-effective, and reliable ENS record updates on Base. — 01.14.24
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Meta-Governance – @5pence.eth
ENS Ecosystem – @slobo.eth
Public Goods – @vegayp
DAO Secretary - @limes
The responsibilities of the Lead Stewards & Secretary are set out in Rule 9.8 and Rule 9.9 of the Working Group Rules.
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Meta-Governance @ 2PM UTC Tuesday — Google Meet
Public Goods @ 4pm UTC Thursday — Google Meet
🌱 Ecosystem @ 5pm UTC Thursday — Google Meet
The Meta-Governance Working Group provides governance oversight and support for working group operations through DAO tooling and governance initiatives.
Meeting Info:
Currently, there are no public calls scheduled. Please refer to the ENS DAO Calendar for future scheduling and await further communication via the governance forum.
Term 5 Meta-Governance Stewards:
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The Meta-Governance Working Group announced Superfluid as the chosen solution for the ENS DAO Service Provider Streams. — 01.01.24
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The December Endowment report is now available on Karpatkey’s Website. This report provides a detailed overview of the endowment’s finances and allocations. A high-level overview is made available below for reader’s convenience:
Balance Overview:
Total funds in the endowment: $70,892,411
Capital utilization: 99.1%
Monthly DeFi results: $239,684
Annual Percentage Yield (APY): 4.33%
Review the full report prepared by @Karpatkey here. — 01.08.24
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The December 2023 financial report for ENS presents a positive financial outlook.
Financial Overview:
Revenue > Cash Burn by 2x, Runway: 150 months
Second tranche funded, Diversification: ETH 36% cover of Cash Burn
Revenue $2.2M, consistent with prior periods, Cash Inflow: $1.4M
Normalized Cash Burn: $0.7M, Reserves: $99M (ETH: $72M, USDC: $27M)
Total Endowment: $69.6M, P&L: $4.9M (ETH mark-to-market)
Review the full report prepared by @Steakhouse here. — 01.09.24
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The Public Goods Working Group supports the greater Ethereum ecosystem by identfying and funding open-source development.
Meeting Minutes:
Meeting Info:
Thursday, January 11 • 4:00 - 4:45pm (meeting time shifts to 6PM UTC in February)
Time Zone: Coordinated Universal Time
Term 5 Public Goods Stewards:
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DAO participants may now request to add agenda and other discussion items on the Public Goods Working Document. This is an effort by the Working Group to allow for more accessibility and flexibility in the nature and structure of weekly meetings. — 01.11.24
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The budget status for the Public Goods Working Group is as follows:
The Large Grants funds have already been spent or allocated.
Grantees are managed through May, an additional top-up may be necessary.
The Small Grants safe is anticipated to require a complete top-up.
The budget proposal will be presented in the first month.
It is important to note that the budget is distinct from funding requests.
Eduardo (@Vegayp) has been designated as the lead on budget matters.
Continue to refer to the forum for updates on the Working Group’s budget status. — 01.11.24
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The Ecosystem Working Group enhances the ENS Ecosystem by identifying and funding high-impact ENS-specific projects.
Meeting Minutes:
Meeting Info:
Thursday, January 11 · 5:00 – 6:00pm
Time zone: Coordinated Universal Time
Term 5 Ecosystem Stewards:
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ENS DAO will soon open its first Voting Period of Term 5. The first proposal, EP5.1, involves deploying a new version of the DNSSEC oracle and registrar, enabling ‘Gasless DNSSEC’ functionality. Users will be able to import their existing DNS names into ENS for free. To learn more about ENS DAO’s upcoming ‘Gasless DNSSEC’ upgrade, you can access a demo on the Sepolia testnet and find detailed information here. — 01.11.24
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The multi-delegate token contract is an innovative solution that enables token holders to manage their voting power within DAO structures more effectively. Essentially, it allows token holders to assign and reallocate their voting rights to various delegates at any time, creating a more dynamic and distributed voting system. It is nearing completion, with recent findings from a smart contract audit already integrated and more updates on the way — 01.11.24
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ENS DAO offers several resources for understanding and participating in its ecosystem.
ENS DAO Basics: Details the ENS DAO, including voting and governance.
Support Docs: Provides guidance on registration, renewals, and development aspects.
Governance Docs: Offers additional insights into governance structure.
ENS Agora: Governance hub for proposal review and voting.
Give Feedback: Feedback platform where users share input to improve ENS.
ENS Repository: The ENS Protocol’s main Github Repository.
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Thank you very much for reading! Goodbye. 👋🏻
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