Description
Summary
This executable proposal seeks to implement the revised budget stream to ENS Labs develop, maintain and audit ENSv2. The motivation, justification, budget breakdown, and development plan was previously detailed in a Temp Check request.
Background
With over 3 million .eth names and 20 million more ENS names registered by the likes of Coinbase, Uniswap, and Linea – ENS has become the standard for web3 identity. As Ethereum's roadmap evolves towards being rollup-centric, it's essential for ENS to adapt in parallel, ensuring it meets the needs of both the Ethereum ecosystem and its users.
To continue scaling and evolving ENS, ENS Labs is requesting an increase in its annual budget from $4.2M USDC to $9.7M USDC, and a one-time grant for future security audits of ENSv2. This revised funding is necessary for ENS Labs to develop, maintain, and audit ENSv2, a major upgrade that will enhance decentralization, flexibility, and scalability by leveraging Layer 2 solutions and redesigning the ENS protocol from the ground up.
Links
- [Temp Check] ENSv2 Development Funding Request
- ENS Labs development proposal: ENSv2 and native L2 support
- ENS Labs Transparency Reports
Specification
This executable proposal will initiate a new daily stream of 15,075.33 USDC from the ENS DAO treasury to ENS Labs, starting on January 1, 2025. This will run in addition to the existing streaming contract of 11,500 USDC/day at 0xB1377e4f32e6746444970823D5506F98f5A04201, for a total of 26,575.34 USDC/day ($9.7M USDC/year).
