ENS DAO Overhauls Foundation with Five-Seat Board
The ENS DAO has approved and executed a governance proposal to overhaul the ENS Foundation. The new setup turns the foundation into a full-time operating body with a five-seat board, professional staff, and control over a roughly $65 million endowment.
According to the proposal, the foundation will handle work that cannot be managed easily through on-chain votes alone. This includes daily operations, employee management, grants programs, and intellectual property. The foundation will also represent ENS in internet standards bodies and government institutions.
The board consists of five voting directors, including three independent members: Alexander Urbelis, Nick Johnson, Kartik Talwar, Brett Sun, and Anthony Leutenegger. Independent directors will receive 40,000 USDC per year and serve two-year terms that the DAO may renew.