Ethereum Name Service (ENS)

Wu reported, according to The Defiant, that ENS co‑founder Alex Van de Sande has proposed delegating the 5 million ENS in the idle community treasury of the ENS DAO to individual participants in order to reform DAO governance. Currently, a single representative’s voting power is sufficient to meet the quorum, pass any proposal, and outweigh the combined voting power of the subsequent 50 representatives. The proposal comes as ENS DAO governance disputes continue to brew. Earlier, ENS Labs had suggested moving the DAO’s operating wallet, ENS holdings, and Endowment to a five‑person board, raising concerns about “treasury capture.” Van de Sande stated that the delegated tokens remain owned by the DAO and participants cannot sell them. The proposal is seen as a direct response to the problem of overly concentrated voting power in ENS. https://t.co/yEcjGmwlE5

ENS DAO, pushing governance revamp with 5 million ENS delegation

https://t.co/hkwGbrZJJ1 https://t.co/q8T9uqwYK0

BREAKING: ENS CO-FOUNDER ALEX VAN DE SANDE FILES PROPOSAL TO HELP FIX @ensdomains GOVERNANCE CRISIS

@avsa proposes delegating 5M $ENS tokens from the DAO's dormant treasury to individual participants. The move aims to reform ENS governance structure.

Read more here:
https://t.co/ACHyeVhNeL