logo
    • Buy Crypto
    • Markets
    • Futures
    • Spot
    • Earn
    • Affiliates & AI
    • More
    1. WEEX
    2. Crypto News
    3. ENS Completes a Quiet "Self-Revolution"

    ENS Completes a Quiet "Self-Revolution"

    By: rootdata|2026/08/12 11:55:00
    0
    Share
    copy
    Prefer us on GooglePrefer us on Google
    POWERPOWER
    00.00%--
    BASEDBASED
    00.00%--
    BasedBased
     

    Author: Eric, Foresight News

    On August 11, Beijing time, the ENS DAO officially voted to approve and execute the proposal "Next Era of ENS DAO." This important domain protocol on Ethereum, after nearly a decade of operation, has finally filled a long-missing piece of the puzzle: a legal entity that can represent it in the real world.

    The story began in June this year. On June 19, Katherine Wu, a director of the ENS Foundation, published a proposal on the governance forum, with the core idea of entrusting the daily operations, grant management, and long-term funding strategy of the DAO to a functioning ENS Foundation.

    This idea immediately sparked heated discussions in the community. Lefteris Karapetsas, founder of Rotki, openly stated on X that this proposal essentially equates to the self-dissolution of the DAO, handing over nearly $500 million in treasury to the foundation. He even criticized founder Nick Johnson for delegating half of the voting power to himself. In a fit of anger, a researcher from L2BEAT even built an alternative domain solution without an owner and resistant to rug pulls. During the peak of the debate, proposal author Katherine Wu clarified in a lengthy post but closed the comments section, which only led to more skepticism.

    The community's concerns were not unfounded. When the batch of DAOs was established in 2021, they believed that token-weighted governance could solve everything. However, after a few years, issues such as voting fatigue, lack of accountability for grant recipients, and high coordination costs have also plagued ENS. Nick Johnson's response was candid; he stated that the DAO was primarily concerned with how to spend the treasury, and the low delegation rate highlighted how difficult it is to maintain DAO security through token voting. In other words, this is not a question of whether to decentralize, but rather what the DAO format is truly suitable for.

    The final approved version made significant concessions compared to the initial draft from June, which is also a noteworthy aspect of this proposal.

    First, the DAO holds approximately 54.6% of the total supply, or about 54.6 million ENS tokens, which will remain untouched and continue to be controlled by token holders under the on-chain mechanism. The only exception is a one-time transfer of 1 million ENS tokens specifically for future employee salaries at the foundation, which cannot participate in voting, delegation, or lending during the grant period.

    Second, the operational wallet containing about $16 million in Ethereum and stablecoins will also remain unchanged, continuing to be managed by the DAO. The initial idea of entrusting the operational wallet to the foundation was scrapped.

    Third, although the approximately $65 million donation fund will be managed by the foundation's board, each transaction must undergo a 9-day time lock, during which the security council can directly veto any unauthorized transactions. Before the foundation announces its first annual budget, it can only withdraw up to $500,000 from the donation fund for setup expenses, and subsequent annual expenditures will be capped by the public budget, subject to annual audits and quarterly grant reports.

    It can be said that the final plan has divided the "money bag" key into several parts: the foundation holds one key, the time lock holds another, the security council holds another, and DAO token holders always retain the master key, including the right to appoint and dismiss directors. The dismissal process is clearly outlined, requiring evidence to accompany petitions, with a response window from the board, and a 30-day interval between petition submission and voting, allowing the impeached director to publicly present a written defense.

    So what exactly will the foundation do? The answer is to handle tasks that the DAO cannot do and that ENS Labs should not handle.

    ENS operates on-chain, but the rules of the domain world are set in the meeting rooms of traditional institutions like ICANN, IETF, and W3C. The DAO lacks legal identity, cannot sign agreements, cannot hire full-time employees, cannot push for the formal recognition of the ".ens" top-level domain at ICANN, and cannot initiate trademark protection against phishing sites impersonating ENS. Over the past few years, these tasks have either gone unaddressed or have been handled by ENS Labs, which is essentially an engineering company based in Singapore and has never been the institutional representative of the protocol.

    The new foundation's board will consist of five seats. Executive Director Alexander Urbelis, who is also the General Counsel and Chief Information Security Officer of ENS Labs, has previously served as CISO for the NFL. The founder's seat belongs to Nick Johnson. The other three independent directors are Kartik Talwar, partner at A.Capital and co-founder of ETHGlobal; Brett Sun, co-founder of Prelude; and Anthony Leutenegger, CEO of Aragon. Independent directors will receive an annual salary of 40,000 USDC, which will be donated to a charity of their choice if declined. The conflict of interest clauses are detailed, requiring majority approval from independent directors for decisions involving ENS Labs' grants, with the founder's seat automatically recusing itself from such votes.

    For ENS Labs, this is also a form of liberation. It can refocus its energy on products and engineering, concentrating on advancing ENSv2. In February of this year, Labs made a decisive decision to abandon the self-built L2 network Namechain and directly deploy ENSv2 on the Ethereum mainnet, citing Ethereum's own scaling that reduced registration gas costs by about 99%.

    With the governance structure clarified, the roles of the protocol, foundation, and development company can finally take shape.

    The impact of this proposal clearly extends beyond ENS. In recent years, the Web3 industry has witnessed numerous failures in DAO governance, either indecisive or dominated by large holders and professional governance players. ENS's answer is to acknowledge the limitations of token voting, returning to what it does best: safeguarding the neutrality of the protocol, while entrusting operations to a professional entity with budget constraints, audits, and dismissal mechanisms. The number of votes may decrease, but the weight of each vote will increase.

    Of course, skepticism will not disappear. Handing over administrative control of $65 million to a five-person board essentially trades institutional design for execution efficiency, with time locks and security councils serving as technical fuses. The real test lies in the first budget, the first batch of grants, and the first appearance at an ICANN meeting after the inaugural board takes office. ENS aims to prove that critical internet infrastructure can be both trusted and neutral, while having someone to represent it at the negotiation table in the real world. The outcome of this experiment will serve as a reference point for the entire DAO industry in the coming years.

    -- Price

    --

    This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.

    You may also like

    Concerns Over Deposit Exodus Block Clarity Act Amid Rural Republican Pushback

    Concerns Over Deposit Exodus Block Clarity Act Amid Rural Republican Pushback

    10-Year UST Yields Pressure Bitcoin: Strategists Anticipate Further Decline

    10-Year UST Yields Pressure Bitcoin: Strategists Anticipate Further Decline

    The yield on 10-year UST remains one of the main factors pressuring Bitcoin and the entire crypto market: Wolfe Research believes that rising rates, a strong US Dollar, and weak performance of risk assets hinder cryptocurrencies from achieving a sustainable recovery. Over the past two weeks, the dig...
    Robinhood Ventures Fund II to begin NYSE trading after $200M IPO

    Robinhood Ventures Fund II to begin NYSE trading after $200M IPO

    The Approach to Cryptocurrency Valuation Has Changed. Which Ones Will Rise and Why

    The Approach to Cryptocurrency Valuation Has Changed. Which Ones Will Rise and Why

    $41.7234 Trillion in the Red: U.S. Fiscal Debate Intensifies

    $41.7234 Trillion in the Red: U.S. Fiscal Debate Intensifies

    The U.S. government's accounting net worth is projected to be minus $41.7234 trillion by the end of the 2025 fiscal year, reigniting debates over fiscal sustainability. The confirmed accounting structure shows that liabilities significantly exceed assets.
    Solana Privacy: Helius Rings Revolutionize Transaction Confidentiality

    Solana Privacy: Helius Rings Revolutionize Transaction Confidentiality

    Oracle Expands AI Database to 20 Regions

    Oracle Expands AI Database to 20 Regions

    Oracle and Amazon are expanding the regions and functionalities of Oracle AI Database@AWS, bringing enterprise databases and generative AI services closer together.
    The Key to Ethereum's Transformation: The Future of STARK Recursive Proofs in the Next Decade

    The Key to Ethereum's Transformation: The Future of STARK Recursive Proofs in the Next Decade

    Who Holds Cryptocurrency in Iran? A Map Clarifying the Boundaries of the Central Bank, Stock Exchange, and Taxation

    Who Holds Cryptocurrency in Iran? A Map Clarifying the Boundaries of the Central Bank, Stock Exchange, and Taxation

    FOMO Co-founder Se Yong in-depth interview: Traders are becoming the new generation of internet celebrities

    FOMO Co-founder Se Yong in-depth interview: Traders are becoming the new generation of internet celebrities

    Why millions of everyday savers will soon own Bitcoin without ever downloading a crypto app

    Why millions of everyday savers will soon own Bitcoin without ever downloading a crypto app

    Bitcoin is moving into adviser portfolios, spot ETFs, and retirement accounts as traditional finance broadens access to exposure.
    Digital Currency Regulation Established in Russia

    Digital Currency Regulation Established in Russia

    The circulation of digital currency in Russia is now governed by a separate legal regime: the Federal Law of the Russian Federation No. 282-FZ "On Digital Currencies and Digital Rights" was adopted on August 4, 2026. The document defines the status of digital currency, transaction rules, mining proc...
    China's De-dollarization: Is the Western Financial System at Risk?

    China's De-dollarization: Is the Western Financial System at Risk?

    DeepMind Leadership Transition Report, Conflicting Official Titles

    DeepMind Leadership Transition Report, Conflicting Official Titles

    Google DeepMind is reportedly transitioning from a research leadership centered around co-founder Demis Hassabis to an operational system led by Chief Technology Officer Koray Kavukcuoglu.
    Bullish Reports 62% Year-on-Year Revenue Growth After Q2 Adjustments, Plans to Build a Full-Process Tokenized Securities Platform

    Bullish Reports 62% Year-on-Year Revenue Growth After Q2 Adjustments, Plans to Build a Full-Process Tokenized Securities Platform

    Michael Burry Shorts 4 AI Stocks and Goes Long on Mercado Libre

    Michael Burry Shorts 4 AI Stocks and Goes Long on Mercado Libre

    Suspicious Cryptocurrency Transactions: Banks to Require Disclosure of Transfer Chains

    Suspicious Cryptocurrency Transactions: Banks to Require Disclosure of Transfer Chains

    Suspicious cryptocurrency transactions will primarily affect large businesses and companies engaged in foreign trade: banks will need a clear explanation of where the money came from, why the digital currency was purchased, and to whom it was subsequently sent. Cryptocurrency in Russia is gradually ...
    Study finds 65,340 risky crypto addresses tied to $574 million in losses

    Study finds 65,340 risky crypto addresses tied to $574 million in losses

    USENIX researchers link $574.8M in losses to 65,340 risky crypto addresses across Ethereum and BNB Smart Chain, including $15.7M from two attack vectors.
    Astronomers Discover a New Astrophysical Object: The Black Hole Star

    Astronomers Discover a New Astrophysical Object: The Black Hole Star

    MIT astronomers have detected an object that combines characteristics of a star and a black hole. It emits 100 billion times more energy than any known star, challenging current astrophysical models.
    The Race for Tokenized Funds: It's Not Just About Scale

    The Race for Tokenized Funds: It's Not Just About Scale

    Vitalik's Ten-Year Posting Statistics: Is the Ethereum Roadmap Changing More Frequently?

    Vitalik's Ten-Year Posting Statistics: Is the Ethereum Roadmap Changing More Frequently?

    The Bank of England Tests Interoperability Between Stablecoins and Digital Pound in Cross-Border Trade

    The Bank of England Tests Interoperability Between Stablecoins and Digital Pound in Cross-Border Trade

    [Editorial] The Rails Are Laid Before the World Notices

    [Editorial] The Rails Are Laid Before the World Notices

    Recently, countries leading in RWA (Real World Asset tokenization) include the United States, the United Kingdom, Switzerland, Germany, France, Singapore, Hong Kong, and Japan. ...
    In the Crypto Bear Market, Which Crypto Stocks Are Institutional Giants Accumulating?

    In the Crypto Bear Market, Which Crypto Stocks Are Institutional Giants Accumulating?

    web3: Rakuten Integrates XRP into Its Points and Payment Ecosystem

    web3: Rakuten Integrates XRP into Its Points and Payment Ecosystem

    Rare Evo Conference 2026: Awaiting Clarity & The Agentic Economy Arrives

    Rare Evo Conference 2026: Awaiting Clarity & The Agentic Economy Arrives

    Everything is Broken, Bitcoin is Burning, but it is Becoming Stronger Because of This

    Everything is Broken, Bitcoin is Burning, but it is Becoming Stronger Because of This

    Zcash is borrowing crypto’s new institutional playbook as privacy goes mainstream

    Zcash is borrowing crypto’s new institutional playbook as privacy goes mainstream

    Zcash is building a new distribution layer to expand privacy infrastructure, institutional integrations, and real-world access.
    Charles Schwab has added Bitcoin, Ether trading to its $13 trillion platform

    Charles Schwab has added Bitcoin, Ether trading to its $13 trillion platform

    Why Are Cryptocurrency Believers Throwing Their Coins into AI?

    Why Are Cryptocurrency Believers Throwing Their Coins into AI?

    Concerns Over Deposit Exodus Block Clarity Act Amid Rural Republican Pushback

    10-Year UST Yields Pressure Bitcoin: Strategists Anticipate Further Decline

    The yield on 10-year UST remains one of the main factors pressuring Bitcoin and the entire crypto market: Wolfe Research believes that rising rates, a strong US Dollar, and weak performance of risk assets hinder cryptocurrencies from achieving a sustainable recovery. Over the past two weeks, the dig...

    Robinhood Ventures Fund II to begin NYSE trading after $200M IPO

    The Approach to Cryptocurrency Valuation Has Changed. Which Ones Will Rise and Why

    $41.7234 Trillion in the Red: U.S. Fiscal Debate Intensifies

    The U.S. government's accounting net worth is projected to be minus $41.7234 trillion by the end of the 2025 fiscal year, reigniting debates over fiscal sustainability. The confirmed accounting structure shows that liabilities significantly exceed assets.

    Solana Privacy: Helius Rings Revolutionize Transaction Confidentiality

    ...
    Invite friends, get rewards
    Invite to get up to $160 + 40% commission
    Invite friends, get rewardsInvite

    Contents

    POWER

    Latest articles

    2026/08/13

    $41.7234 Trillion in the Red: U.S. Fiscal Debate Intensifies

    The U.S. government's accounting net worth is projected to be minus $41.7234 trillion by the end of the 2025 fiscal year, reigniting debates over fiscal sustainability. The confirmed accounting structure shows that liabilities significantly exceed assets.
    BILLBILL
    00.00%--
    POWERPOWER
    00.00%--
    THETHE
    00.00%--
    2026/08/13

    Bank of America Commits $250 Billion to U.S. Infrastructure

    POWERPOWER
    00.00%--
    CHIPCHIP
    00.00%--
    2026/08/13

    YC Leader Supports High Investment Strategy in AI

    POWERPOWER
    00.00%--
    COSTCOST
    00.00%--
    UBERUBER
    00.00%--
    BASEDBASED
    00.00%--
    2026/08/13

    From Subsidy Narrative to Real Returns: The Turning Point Year for DePIN Power Networks

    POWERPOWER
    00.00%--
    LENOVOLENOVO
    00.00%--
    COSTCOST
    00.00%--
    EDGEEDGE
    00.00%--
    2026/08/13

    US Inflation Slowdown Fails to Revive Bitcoin

    INDEXINDEX
    00.00%--
    COSTCOST
    00.00%--
    POWERPOWER
    00.00%--
    More

    Latest coin listings on WEEX

    logoCommunity
    iconiconiconiconiconiconicon
    Customer Support:@weikecs
    Business Cooperation:@weikecs
    Quant Trading & MM:bd@weex.com
    VIP Program:support@weex.com
    • About Us
    • Announcement Center
    • Media Kit
    • WEEX Community
    • WXT Zone
    • Announcement
    • Legal Statement
    • Risk Disclosure
    • Terms and Policies
    • Privacy Policy
    • Whistleblower Notice
    • AML/CTF Policy
    • Law Enforcement
    • User Guide
    • Product Launches
    • Crypto News
    • Product Launches
    • Crypto Wiki
    • Learn
    • Q&A
    • Spot
    • Futures
    • Glossary
    • VIP Program
    • Download
    • Affiliate
    • Protection Fund
    • Proof of Reserves
    • Sitemap
    • ETFs
    • Crypto Prices
    • Price Predictions
    • WXT Price
    • BTC Price
    • ETH Price
    • DOGE Price
    • How to Buy Crypto
    • How to Buy WXT
    • How to Buy BTC
    • How to Buy ETH
    • How to Buy DOGE
    • Help Center
    • Fee Schedule
    • Trading Rules
    • WEEX Academy
    • Contact Verifier
    • Submit Feedback
    • About Us
    • Announcement Center
    • Media Kit
    • WEEX Community
    • WXT Zone
    • Announcement
    • Help Center
    • Fee Schedule
    • Trading Rules
    • WEEX Academy
    • Contact Verifier
    • Submit Feedback
    • Customer Support Bot
    • VIP Services
    • Legal Statement
    • Risk Disclosure
    • Terms and Policies
    • Privacy Policy
    • Whistleblower Notice
    • AML/CTF Policy
    • Law Enforcement
    • Proof of Reserves
    • Invite Friends
    • OTC
    • Download
    • Affiliate
    • VIP Program
    • API
    • Broker
    • Listing Application
    • Affiliate T&C
    • Sitemap
    • Futures
    • Spot
    • Copy Trade
    • Markets
    • WEEX Store
    • User Guide
    • Product Launches
    • Crypto News
    • Product Launches
    • Crypto Wiki
    • Learn
    • Q&A
    • Spot
    • Futures
    • Glossary
    • VIP Program
    • Download
    • Affiliate
    • Protection Fund
    • Proof of Reserves
    • Sitemap
    • ETFs
    • Crypto Prices
    • Price Predictions
    • WXT Price
    • BTC Price
    • ETH Price
    • DOGE Price
    • How to Buy Crypto
    • How to Buy WXT
    • How to Buy BTC
    • How to Buy ETH
    • How to Buy DOGE
    • About Us
    • Announcement Center
    • Media Kit
    • WEEX Community
    • WXT Zone
    • Announcement
    • Help Center
    • Fee Schedule
    • Trading Rules
    • WEEX Academy
    • Contact Verifier
    • Submit Feedback
    • Legal Statement
    • Risk Disclosure
    • Terms and Policies
    • Privacy Policy
    • Whistleblower Notice
    • AML/CTF Policy
    • Law Enforcement
    • Customer Support Bot
    • VIP Services
    • Futures
    • Spot
    • Copy Trade
    • Markets
    • WEEX Store
    • Proof of Reserves
    • Invite Friends
    • OTC
    • Download
    • Affiliate
    • VIP Program
    • API
    • Broker
    • Listing Application
    • Affiliate T&C
    • Sitemap
    • User Guide
    • Product Launches
    • Crypto News
    • Product Launches
    • Crypto Wiki
    • Learn
    • Q&A
    • Spot
    • Futures
    • Glossary
    • VIP Program
    • Download
    • Affiliate
    • Protection Fund
    • Proof of Reserves
    • Sitemap
    • ETFs
    • Crypto Prices
    • Price Predictions
    • WXT Price
    • BTC Price
    • ETH Price
    • DOGE Price
    • How to Buy Crypto
    • How to Buy WXT
    • How to Buy BTC
    • How to Buy ETH
    • How to Buy DOGE

    Where new wealth is made

    Download app

    Sign Up
    h5 logo
    Download