ENS Labs Scales Back Treasury Proposal After Delegate Pushback
Summary
ENS Labs revised its governance proposal after delegate criticism over treasury control. The DAO will keep custody of its primary operational wallet, including ETH and stablecoins, rather than transferring broader control to the Foundation. The proposed $65 million Endowment Safe is still expected to move to the Foundation, but only with a timelock and Security Council cancellation rights. The DAO’s 54.6 million ENS tokens remain with tokenholders, while the Foundation would receive a 1 million ENS grant that vests over multiple years. The change reflects a compromise between professionalized operations and decentralized control, showing that delegate pushback can materially shape DAO governance and limit treasury centralization.
