ENS Labs Scales Back Treasury Proposal After Delegate Pushback

ENS Labs Scales Back Treasury Proposal After Delegate Pushback

ENS Labs has revised a governance proposal after delegate criticism over treasury control, choosing to keep the DAO’s primary operational wallet custody in place rather than moving broader control to the Foundation. According to the validated notes, the revised plan scraps the more contentious transfer of the DAO’s operational wallet, which includes ETH and stablecoins. The DAO retains custody, while only the $65 million Endowment Safe is set to…

ENS Labs scales back plan to move DAO treasury control after delegate pushback

ENS Labs' decision to retain DAO treasury control highlights the importance of balancing decentralization with professional governance in crypto. The post ENS Labs scales back plan to move DAO treasury control after delegate pushback appeared first on Crypto Briefing.

ENS Scales Back Plan to Move DAO Treasury Control to New Foundation

Katherine Wu, chief operating officer of ENS Labs, posted an executable draft Thursday of the proposal to establish an ENS Foundation, dropping a plan to shift the DAO's operational wallet to the new entity after weeks of delegate opposition to an earlier version of the plan. The draft, "[Draft]... Read the full story at The Defiant