Ethereum Name Service (ENS)

"But Lefteris there must be some non ENS Labs employees left in the community who believe in ENS and support the takeover?"

Here is the votes.

Every red vote is either a Labs employee or someone whose majority delegation is delegated to from Labs.

It's all a sham. https://t.co/1Sd2XHPbiI

the ENS DAO drama - neutral rundown 🧵

one of ethereum's best-known products is having a rough governance month.

here's what happened, and who's on each side. 👇

(i wrote this for myself, so i could stoicly understand all sides before considering taking a position myself. im sharing it for others who also wish to be informed before taking a side.)

the setup:
- the ENS DAO governs a treasury reported between ~$350M and ~$500M.
- the ENS token's circulating market cap is only ~$168M, and ENS is down ~95% from its 2021 peak.
- so the money the token controls is worth multiples of all circulating tokens.
- that ratio creates a "residual floating value takeover" risk - someone could in principle buy cheap tokens to reach the treasury. (that risk is also the whole justification for having a Security Council.)

the trigger: june 19
- Katherine Wu (katherine.eth), COO of ENS Labs, posted a temp check to move day-to-day treasury ops, the ENS token holdings, and the Karpatkey-managed Endowment to a 5-seat Foun

the .eth comes off, the end of a chapter for me

I have decided to move on from ENS, given recent events and other reasons. I'm grateful for my time with ENS and I wish everyone well going forward

This includes winding down @ethidorg. I and my incredible teammates are open to new opportunities, DMs are welcome. My team has been amazing! Any of them would make a great addition to your team: @0xthrpw @encrypteddegen @sat_eth @jalilwahdat @quantumly 🔥

Re our projects like @grailsmarket, @ensmarketbot, @efp, etc: Thank you to all of our users, we appreciate you! Most of these projects will sunset over the next few weeks (tho code remains open source), more information will be posted later

Godspeed everyone 🤝