# ENS DAO Newsletter #101 *11/21/25* By [ENS DAO Newsletter](https://paragraph.com/@ensdao) · 2025-12-02 --- Welcome ------- * **New editions** — Bi-weekly on Tuesdays * **Previous editions** — Archived on the Forum * **New proposals** — Updates via Telegram * [**Submit your updates!**](https://docs.google.com/forms/d/e/1FAIpQLSemsxjgb0cs6NFVUtPSxCyKPlP67K1-nuA4zm1vqUz9NF80-A/viewform) — project updates wanted! Working Group Bulletin ---------------------- ### Term 6 Lead Working Group Stewards + Secretary Appointment * Meta-Governance – [@netto.eth](https://discuss.ens.domains/u/netto.eth) * Ecosystem – [@slobo.eth](https://discuss.ens.domains/u/slobo.eth) * Public Goods – [@simona\_pop](https://discuss.ens.domains/u/simona_pop) * DAO Secretary - [@limes](https://discuss.ens.domains/u/limes) _The responsibilities of the Lead Stewards & Secretary are set out in Rule 9.8 and Rule 9.9 of the_ [_Working Group Rules_](https://docs.ens.domains/v/governance/governance-proposals/term-1/ep12-working-group-rules)_._ Calendar -------- Refer to the official ENS DAO Calendar for meeting links and times. Any other sources are not guaranteed to be accurate. Access the ENS Calendar [here](https://calendar.google.com/calendar/embed?src=8im77u2b3euav0qjc067qb00ic%40group.calendar.google.com&ctz=America%2FNew_York). * * * Proposals --------- ### ENS DAO Collective Funding Snapshot (Term 6) All three Working Group budget proposals are passing with strong support in the current funding window: * Meta-Gov: 379K USDC — 91.8% approval * Ecosystem: 470K USDC — 100% approval * Public Goods: 110K USDC + 15 ETH — 99.5% approval More information → [Proposal Bulletin](https://discuss.ens.domains/t/term-6-proposal-bulletin/20157/10) * * * Updates from ENS Labs --------------------- ### How ENS is Approaching ICANN’s gTLD Expansion Program ENS is preparing for ICANN’s rare 2026 gTLD expansion. ENS may apply for .ens as a protected .brand to strengthen security, prevent namespace misuse, and deepen ENS–DNS integration. The future naming layer of the internet is increasingly ENS-enabled. Learn more → [ENS Blog](https://ens.domains/blog/post/icann-84-gtld) * * * ### Minding the Decentralized Gap Early hacker culture and Ethereum share deep roots in cryptography, privacy, open source, and computing freedom. Alex Urbelis argues it’s time to bridge the divide: blockchain builders need hackers, and hackers need decentralized infrastructure to reclaim the internet’s values. Read → [ENS Blog](https://ens.domains/blog/post/hacker-culture) * * * ### Namechain Is Moving to Surge ENS is migrating Namechain to Nethermind’s Surge, a based rollup built on Taiko—supporting Ethereum-native sequencing, fast finality, and censorship resistance. A Stage-1 launch with a path to Stage-2. Learn more → [Moving Namechain to Nethermind’s Surge](https://ens.domains/blog/post/namechain-nethermind-surge) * * * Temperature Checks ------------------ ### ENS DAO Retrospective Proposal A temp check to run a 4-month, data-driven review of ENS DAO spending, impact, goals, and working group effectiveness. Aims to set clearer accountability standards and guide future funding, governance cycles, and service provider decisions. Review → [ENS Retro: An ENS DAO Retrospective](https://discuss.ens.domains/t/temp-check-ens-retro-an-ens-dao-retrospective/21648) * * * ### Creation of on.eth for Cross-Chain Registry A new proposal seeks to register on.eth as the base for a Chain Resolver, enabling trustless, on-chain mapping of blockchain names (e.g. optimism.on.eth). It replaces off-chain lists, supports ERC-7930/7828 standards, and strengthens ENS as Web3 infrastructure. Review → [Registration of on.eth](https://discuss.ens.domains/t/temp-check-registration-of-on-eth-to-support-interoperable-addressing-standards/21541) * * * ### Endowment Permissions Update Routine update expanding diversification into Morpho + Fluid lending markets while removing an outdated permission. Adds support for EURC + GHO approvals and new curated vaults — aligned with IPS risk tolerance. On-chain vote to follow pending Meta-Gov review. Review → [Endowment Permissions Update #7](https://discuss.ens.domains/t/ep-executable-endowment-permissions-to-karpatkey-update-7/21641) * * * DAO-Wide Headlines ------------------ ### ENS Q3 2025 Revenue Report ENS reported $7.18M in total revenue for Q3 2025 — up from $6.28M YoY. The quarter saw $4.5M in registrations, $1.63M in premium sales, and $1.04M in DeFi returns, bringing total annual revenue to $22.1M. August was the strongest month, driven by premium renewals. View the Report → [ENS Revenue Report](https://discuss.ens.domains/t/ens-revenue-reports/20577/5) * * * ### ENS Labs Q3 2025 Progress Report ENS Labs delivered major progress on ENSv2, completing 80% of core contracts and launching the L2 Primary Name App across major rollups. With 1.6M+ active names and new ecosystem integrations, Q4 will focus on audits, migration prep, and DevConnect demos. View the Report → [Q3 Progress Report](https://discuss.ens.domains/t/ens-labs-quarterly-progress-reports/20565/5) * * * ### ENS DAO Q3 2025 Spending Report Total Q3 spend: $627K across all working groups. * Ecosystem WG: $112,893 USDC + 3 ETH for grants, hackathon sponsorships (ETH Accra, ETH Rome), ENS Cannes event, and Devconnect prep. * Meta-Gov WG: $207K USDC for steward pay, ops, and a $60K grant to LighthouseGov. * Public Goods WG: $207,678 USDC + 10 ETH funding Vyper, Argot, ICANN advocacy, and builder grants. * ENS token distributions: 900 ENS (Ecosystem) and 21,637 ENS (Meta-Gov) via Hedgey vesting. Read the report → [ENS Working Group Spending Summaries](https://discuss.ens.domains/t/ens-working-group-spending-summaries/20706/9) * * * Requests For Comment -------------------- ### Target Allocations for Endowment kpk.eth are seeking input on the Endowment’s 60/40 ETH–stablecoin target, risk appetite, and rebalancing approach under the Investment Policy Statement. Current policy: bi-weekly 1,000 ETH tranches and 3+ years runway in stables (~$45M). Feedback will inform Meta-Gov discussions. Review → [Target Allocations for Endowment](https://discuss.ens.domains/t/rfc-target-allocations-for-endowment/21589/1) * * * OS Contributions ---------------- ### Celo.eth × Webhash: Web3 Sites Live Celo.eth domains can [now launch decentralized, permanent websites in one click — powered by IPFS + Filecoin](https://x.com/webhash_eth/status/1994030546012537111?s=20). If you own a Celo name, your Web3 presence is instantly live and censorship-resistant. Building on Celo just got way easier. * * * ### Vibe dWebsite Builder Launch Webhash rolls out the [Vibe Website Editor](https://x.com/webhash_eth/status/1995511133449662694?s=20) — a fast, no-code/low-code way to build and publish decentralized sites for your ENS names. Perfect for creators who love experimenting and going live on Web3 in minutes. * * * ### Aerodrome × Safe Integration Live Safe multisigs can now [connect directly to Aerodrome](https://x.com/AerodromeFi/status/1993756221111664684?s=20) via decentralized ENS domains. Just add the custom Safe App using [aero.drome.eth.limo](http://aero.drome.eth.limo) / .link, or pair via WalletConnect. A simpler, trustless way to manage liquidity with your Safe. * * * ### Ethereum Identity Stack: Past → Future At Devconnect, Brantly.eth [traced digital identity from 70s public-key crypto and cypherpunks, through Bitcoin + Namecoin, to ENS and Sign-in-with-Ethereum](https://x.com/BrantlyMillegan/status/1992704343192358924?s=20) — showing how decentralized identity has evolved and where it’s heading next. * * * ### [eth.limo](http://eth.limo) Testnet Proxy Need to showcase IPFS-hosted ENS sites on Sepolia? A quick proxy (\*.s.raffy.eth) now lets you resolve testnet contenthashes via [eth.limo](http://eth.limo) — perfect for hackathons + dWeb experiments. → [raffy.eth.s.raffy.eth.limo/](http://raffy.eth.s.raffy.eth.limo/) reads raffy.eth contenthash on sepolia. * * * ### Basenames on Base Sepolia [@estmcmxci](https://discuss.ens.domains/u/estmcmxci) developed a full client-side tool to register and manage Basenames (basetest.eth subnames) on Base Sepolia — now with complete ENSIP-5 support. Check availability, register, set records, resolve addresses, and query in one UI, deployed via IPFS/ENS. Try it → [https://v12.oakgroup.eth.link](https://v12.oakgroup.eth.link) * * * ### basenames-cli: Basenames from your IDE [@estmcmxci](https://discuss.ens.domains/u/estmcmxci) developed basenames-cli. Based on the Atlas CLI, it lets you manage Basenames on Base straight from your terminal/IDE: register names, resolve, edit and verify records in one tool. Open source on GitHub for anyone wiring Basenames into apps and workflows. Github Repo → [Basenames CLI](https://github.com/estmcmxci/basenames-cli/blob/master/README.md) * * * ### Organizational Metadata on ENS — Status Update ENS is standardizing DAO/org metadata via simple text-record subnames (cheap, flexible, backward-compatible). Initial design pivot complete; [draft spec + PoC coming next with ecosystem feedback + adoption push](https://discuss.ens.domains/t/kickoff-organizational-metadata-on-ens/21459/5). * * * ### pretty-ens: Find Available ENS Names CLI tool to quickly scan for open .eth and .box domains. Just run pretty-ens to see what’s free — perfect for domain hunters and devs grabbing names fast. Install via cargo install pretty-ens. * * * ### ENS Holiday Awards Referral Trial December-only pilot: $10K USD in ENS rewards for referred .eth registrations/renewals. Open to all; leaderboard boosts payouts. Run by NameHash Labs to test a broader ENS Referral Program before scaling to $50K across SPP2. * * * Meta-Governance --------------- The Meta-Governance Working Group provides governance oversight and support for working group operations through DAO tooling and governance initiatives. ### **Term 6 Meta-Governance Stewards:** * [5pence.eth](https://discuss.ens.domains/u/5pence.eth/summary) * [daostrat.eth](https://discuss.ens.domains/u/daostrat.eth/summary) * [netto.eth](https://discuss.ens.domains/u/estmcmxci/summary) * * * #### Meeting Minutes: * [Minutes for Weekly Meta-Governance Meeting — November 25](https://discuss.ens.domains/t/metagov-working-group-2025-meetings-tuesdays-at-2pm-utc-currently-9-00-am-et/20078/84) * * * ### ENS Endowment: October 2025 Financial Report October saw broad crypto de-risking: BTC –13.5%, ETH –23.8%, with liquidations driving volatility. ENS fell 27.7% but volume rose to 12.78M ENS. Endowment AUM $133.4M (≈68% ETH / 32% stables), $367K yield, –$7.26M MTM on ETH decline. Review → [Endowment Report](https://reports.kpk.io/ens?month=10&year=2025¤cy=USD) * * * ### ENS Financial Report — October 2025 ENS reports $1.8M revenue, $0.7M cash inflow, and $1.3M normalized cash burn, with 143 months runway. Endowment down $6.4M from ETH mark-to-market, with $131.9M assets split across ETH and stablecoins. Treasury reserves total $187M. Read the report → [Protocol Economics](https://discuss.ens.domains/t/ens-financial-reporting-by-steakhouse/16601/40) * * * ### Update on ENS Endowment Fee Structure A new fee model for the ENS Endowment changes the current structure from 0.5% AUM (capped at $100 M) + 10% performance fee on yield to a decaying AUM-only fee structure — base 0.5% stays until $100M, then fee rate declines as AUM grows; performance fees are eliminated entirely. The change improves alignment with ENS’s conservative investment policy, simplifies cost predictability and auditing, and — based on simulations — lowers total fees by roughly 40% over the past 12 months. Review → [Update on Endowment Fee Structure](https://discuss.ens.domains/t/update-on-the-endowment-fee-structure-metagov-kpk/21684) * * * Ecosystem --------- The Ecosystem Working Group strengthens the ENS Protocol by facilitating developer relations, identifying and funding high-potential projects that enhance ENS, and supporting ENS-aligned initiatives. * * * ### **Term 6 Ecosystem Stewards:** * [Slobo.eth](https://discuss.ens.domains/u/slobo.eth/summary) * [Limes.eth](https://discuss.ens.domains/u/limes/summary) * [daemon.eth](https://discuss.ens.domains/u/don.nie/summary) * * * #### Meeting Minutes: * [Minutes for Weekly Ecosystem Meeting — November 27](https://discuss.ens.domains/t/ens-ecosystem-weekly-meeting-11am-et-thursday-term-6/20061/91) * * * ### Scendex: Onchain Music Curation Scendex.bases­t­est.eth, developed by [@estmcmxci](https://discuss.ens.domains/u/estmcmxci). is a decentralized archive for music releases on Base, using Basenames + IPFS + 0xSplits + Safe multisig. Artists publish censorship-resistant releases with ENS subnames as permanent, queryable records. * * * Public Goods ------------ The Public Goods Working Group supports the Ethereum ecosystem by identifying and funding open-source development. ### **Term 6 Public Goods Stewards:** * [Simona.eth](https://discuss.ens.domains/u/simona_pop/summary) * [Coltron.eth](https://discuss.ens.domains/u/coltron.eth/summary) * [sovereignsignal.eth](https://discuss.ens.domains/u/sov/summary) * * * #### Meeting Minutes * [Minutes for Weekly Public Goods Meeting — November 27](https://discuss.ens.domains/t/ens-public-goods-weekly-meeting-12pm-et-5pm-utc-thursday-term-6/20065/97) * * * ### ENS PG Funds Phantom Zone ENS Public Goods WG [approved 25k USDC](https://discuss.ens.domains/t/ens-public-goods-working-group-funding-phantom-zone/21646) for Phantom Zone to advance privacy tech (FHE + encrypted execution). Co-funded with EF. Work underway on Poulpy + Phantom VM, with progress updates expected as core crypto infra matures. * * * ### ENS PG Funds DRC ENS Public Goods WG granted 150k USDC (with matching ≈300k total) to the Decentralization Research Center to advance pro-decentralization policy, research, and advocacy. \[Quarterly reporting ongoing\] as ENS monitors real-world regulatory impact. * * * ### Interop Research Grant Grant approved to explore ENS interoperability + universal resolution. Deliverable TBD (report or knowledge platform). Focus: mapping prior work and challenges of decentralized, trustless cross-system name resolution. * * * **Note**: Posts older than 4 weeks are archival—browse cautiously, as links may be outdated or compromised. — Thank you for reading! Goodbye. 👋 --- *Originally published on [ENS DAO Newsletter](https://paragraph.com/@ensdao/101)*