[EP 5.5] Funding Request: ENS Public Goods Working Group Term 5 (Q1/Q2)
Abstract
The ENS Public Goods Working Group requests funding of the below to support operations until the September 2024 funding window.
The Public Goods working group funds projects and builders improving the Web3 ecosystems. This funding stream is authorized in Article III of the ENS DAO Constitution. This funding supports initiatives related to open-source software, tooling, research and any practical implementations that broadly benefit a wide range of users of Ethereum and Web3.
This social proposal is submitted to satisfy the requirements set out in Rule 10.1.1 of the Working Group Rules (EP 1.8) and further required by this snapshot proposal in Nov. 2023 modifying steward rules. If this proposal is passed, the funding request will be included in a collective executable proposal put forward by all three Working Groups.
Specification
The balance of the Public Goods multisig at the time of Snapshot contained 147.2k USDC and 33.5 ETH.
If passed, this proposal will transfer 450.3k USDC and 21.5 ETH from the DAO wallet to the Public Goods working group to accommodate the proposed budget below.
Balances (March 2024)*
| USDC |
ETH |
ENS |
| 147.2k |
33.5k |
200 |
*Balances above reflect amounts at time of original proposal at time of Snapshot. Current balance information can be found at https://enswallets.xyz.
Expected Spend (Through September 2024)*
| Initiative |
USDC |
ETH |
| Large Grants |
387.5k |
0 |
| Small Grants |
0 |
50 |
| Bounties |
45k |
0 |
| Events + Hackathons |
115k |
0 |
| Discretionary |
50k |
5 |
| Total |
597.5k |
55 |
*Mult-sig contains 200 ENS that has no planned use. This may be transferred back to the DAO wallet during the term.
Description of Initiatives
Large Grants
Grants up to 50k USDC with applications accepted on a rolling basis throughout the year-long term. Large Grants will resume in Q2. With five grantees completing milestones from last term, the budget includes remaining payouts yet to be disbursed. We plan to add at least two more grantees during Q2 while piloting new grants management software. In the second half of the year, we will run another full-size round supporting up to 10 grantees at a time with a 200k USD total prize pool.
Small Grants
Multiple micro-grantsvoted on by the community. Small Grants will resume during the first half of the year shortly after ETHDenver. We have added the amount expected to spend through the end of the year with no increase from last term. This is approximately 12.5 ETH per quarter. With market fluctuations, stewards may right-size and lower the amounts distributed during round
Events and Hackathons
The working group will support Public Goods events and hackathons. Funds have included expenses related to the funding of hackathons, events, and related participation in events (judging, panels, speaking) where necessary.
The current earmarked events are:
This list is not guaranteed as several events are still in the planning stages. The PG stewards will continuously assess opportunities to expand the public goods conversation and collaborations.
Discretionary
The funds in this initiative are reserved for additional grant opportunities and expenses that arise during the term. Spending on this initiative is at the discretion of the working group stewards.
