ENS Labs Revises Treasury Control Plan Amid Delegate Pushback

ENS Labs has revised its plan to move control of the DAO treasury after facing opposition from delegates. The company's COO, Katherine Wu, published a new draft that establishes an ENS Foundation but drops the contentious element of transferring the DAO's operational wallet to the new entity.

The original proposal aimed to professionalize operations and create a more structured approach to grants and long-term capital planning. However, community members raised concerns about treasury capture by ENS Labs insiders, with Co-founder Nick Johnson's self-delegation practices adding fuel to the debate.

The revised draft addresses these concerns by keeping operational wallet control at the DAO level. The Foundation will still manage grants and handle long-term capital planning, but ENS tokenholders will retain governance authority over protocol-level decisions.