Wu Says learned that, according to The Defiant, ENS co-founder Alex Van de Sande proposed entrusting 5 million ENS from the idle community treasury of ENS DAO to individual participants to reform DAO governance. Currently, one representative's voting power is sufficient to reach a quorum, execute any proposal, and surpass the total of the next 50 representatives. The proposal comes amid ongoing controversy over ENS DAO governance. Previously, ENS Labs proposed transferring the DAO's operational wallet, ENS holdings, and Endowment to a five-person board, sparking concerns of "treasury capture." Van de Sande stated that the entrusted tokens still belong to the DAO and participants cannot sell them. The proposal is seen as a direct response to the issue of excessive concentration of voting power in ENS.

ENS-2.17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned