EXECUTED

Ends Oct 2 at 12:44 AM UTC

[EP 5.16] [Executable] Reimbursement of ENS Labs’ legal fees in eth.link litigation

Proposed byBy

0xb8c2...67d5

on Sep 25

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Description

Summary

This executable proposal seeks to implement the reimbursement payment to ENS Labs for the legal fees incurred while pursuing litigation to protect the eth.link domain. The reimbursement was approved in the previously passed social proposal EP 5.3.

Background

The lawsuit that ENS filed in federal district court in Arizona to maintain ownership and control over eth.link has been resolved, and on 26 August 2024, the Court officially closed this case.
ENS Labs has maintained full ownership and control over the eth.link domain and, therefore, ENS Labs has achieved the initial objective they had when first filing the complaint and obtaining injunctive relief. To reach this outcome, ENS Labs has spent in total 1,218,669.76 USD. This legal action was necessary to defend the ENS ecosystem and maintain control of the eth.link domain, a critical infrastructure component since 2017.

Specification

This executable proposal will initiate a transfer of 1,218,669.76 USDC from the ENS DAO treasury to ENS Labs. This amount represents the final total of all legal expenses related to the eth.link litigation.

Transaction Details

From: ENS DAO Treasury (0xFe89cc7aBB2C4183683ab71653C4cdc9B02D44b7)
To: USDC Token Contract (0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48)
Recipient: ENS Labs (0x690F0581eCecCf8389c223170778cD9D029606F2)
Amount: 1,218,669.76 USDC (1218669760000 considering USDC's 6 decimal places)
Purpose: Reimbursement for legal fees in eth.link litigation

This transaction calls the transfer function of the USDC contract, transferring 1,218,669.76 USDC to ENS Labs' address.

Rationale

The ENS community, through the passage of EP 5.3, has demonstrated its support for reimbursing ENS Labs for the legal expenses incurred in protecting the eth.link domain. This reimbursement acknowledges the efforts made by ENS Labs to safeguard a critical asset of the ENS ecosystem. It ensures that the financial burden of this legal action does not fall solely on ENS Labs, particularly given that their actions were taken to benefit the entire ENS community.

Note - When the orignal snapshot for the social vote was posted it was numbered as 5.2, but it should have been 5.3. It has been renumbered in the official ENS documentation. Some links point to forum discussions and Snapshots that show the original duplicitive label of 5.2

Votes

Quorum progress: 120.18%

For votes: 1.07M

Against votes: 0

0xb8c2...67d5abstained

129.79K

0x8393...0780voted for

129.53K

0x9831...6744voted for

127.93K

0x76a6...bbb8voted for

116.43K

I support the litigation and also appreciate the effort of ENS Labs. Thanks! My only feedback is that the first voting process was confusing, as there were conditions and no option to abstain. I and other delegates in the forum pointed this out.

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111.68K

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We support the reimbursement of funds for this legitimate reason.

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34.33K

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30.97K

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28.13K

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18.93K

Thank you to ENS Labs for taking this initiative

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12K

We support this reimbursement to ENS Labs.

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We appreciate the effort from Labs in recovering the eth.link domain.

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813

The legal fees incurred by ENS Labs in order to protect and successfully maintain the eth.link domain, a vital infrastructure component, is in alignment with the ENS DAO constitution of ensuring the long-term viability of ENS. Therefore, the reimbursement does not conflict with the regulations of the ENS constitution and it values the effort of ENS Labs to safeguard a crucial asset of the ENS ecosystem. Their action not only served them but the whole ENS community too.

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Supporting this proposal ensures ENS Labs is reimbursed for the legal fees required to protect the eth.link domain, a key infrastructure asset for the ENS ecosystem.

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The proposal aligns with article III of the DAO's constitution, ensuring the long-term viability of ENS by funding continuing development and the improvement of the ENS system. By reimbursing ENS Labs’ for the legal expenses, the governance is upholding their commitment to ensure that the financial burden of keeping the protocol intact does not fall solely on one entity but is shared across the ENS community.

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Thank you ENS Labs.

0x2dad...b67dvoted for

The proposal directly benefits the DAO by promoting the protection of its assets, contributing to its future credibility, and securing its operational aspects. The funding of the legal fees aligns with the goal of monopolizing resources for the systematic growth and preservation of the organization's value. Therefore, this proposal is substantially an investment rather than an expenditure.