ENS Labs has updated its governance proposal following criticism from delegates about treasury control, deciding to retain the DAO’s main operational wallet.
Frequently Asked Questions
Here is a list of FAQs regarding ENS Labs scaling back its treasury proposal after delegate pushback written in a natural tone with clear answers
General Background
Q What exactly happened with the ENS treasury proposal
A ENS Labs initially proposed asking the DAO for a large amount of money to fund operations for the next few years After many delegates said the amount was too high and lacked justification ENS Labs revised the proposal and reduced the requested amount significantly
Q Why did ENS Labs want more money in the first place
A ENS Labs is the main development team behind the Ethereum Name Service They said they needed the funds to cover operating costs pay developers and continue building new features without having to worry about funding for several years
Q Why did the delegates push back
A The main reasons were the size of the request and the lack of detail Many delegates felt the 20 million figure was too high compared to the DAOs total budget and they wanted more transparency on exactly how the money would be spent There was also concern about the team becoming too financially independent from the community
Q Did the proposal get cancelled completely
A No ENS Labs didnt withdraw it they scaled it back They listened to the feedback revised the numbers and submitted a new version asking for a smaller amount
The Revised Proposal Numbers
Q How much money did they originally ask for and how much are they asking for now
A The original proposal asked for 208 million After the pushback they scaled it back to ask for approximately 103 million
Q Why did they cut the budget in half specifically
A ENS Labs stated they were able to cut costs by reducing planned spending on marketing and business development and by adjusting their operational runway They kept the core engineering budget largely intact
Q Does the new proposal still give them a multiyear runway