Delegate DXdao's ENS Tokens to CaneyFork.eth

Tldr: Draft proposal discussion on delegating DXdao’s ENS tokens to CaneyFork to advocate for ENS builders

Background

The ENS Protocol is one of the most important pieces of infrastructure that DXdao relies on. It’s also one of the most promising non-DeFi pieces of digital infrastructure. DXdao’s use of ENS to own and govern its front-ends is a pioneering form of on-chain sovereignty.

The ENS DAO and token were launched late last year. In recognition of its use of ENS, DXdao was given 46,296 ENS tokens, which have a current USD value of $600k. Like most other projects, this token comes with governance rights over the ENS DAO. Token holders could participate in governance directly or delegate to an address to vote on their behalf.

Given its importance to DXdao and the broader Ethereum ecosystem, DXdao should be an active participant in ENS Governance. I’m proposing that DXdao delegate its ENS tokens to CaneyFork.eth to vote on its behalf and advocate for DXdao’s interests in ENS governance.

What should DXdao advocate for in ENS governance?

The ENS DAO is one of the largest DAOs on Ethereum (it’s #1 on Snapshot with 61k addresses). At the moment, the DAO is still nascent and does not have an established governance culture like DXdao. In its short existence, ENS DAO is perhaps most well-known for a contentious failed vote to remove Brantly from the ENS Foundation. That vote illustrated the contrast to DXdao and the lack of an established governance process, which could have grounded the heated conversation as it relates to the DAO itself.

Outside of that incident, ENS DAO has been focused during its first 6 months on developing and launching the DAO, ratifying the ENS constitution, creating and voting on working groups and funding TNL, the company that built the ENS protocol. ENS is very much a company in the process of trying to become a DAO. The ENS DAO does have some on-chain sovereignty already. It has voted to update the pricing oracle.

ENS Builders: DXdao’s priority in ENS governance should be advocating for those that build on top of ENS. Currently, ENS DAO and the ENS ecosystem more broadly are focused on development of ENS protocol, and less attention to projects that use ENS for hosting. In discussions with folks like @SydMead from @eth.limo and @neiman from esteroids, it’s clear not enough resources from ENS DAO are being allocated to projects trying to build a decentralized web. There is an opportunity for DXdao to lead an “ENS Builders” coalition that could provide support to projects building on top of ENS as well as represent builder interests in ENS governance as a unified block. Wolfram has already started an ENS Buiders guild discord.

As its delegate, Caney Fork would vote and advocate on behalf of DXdao’s interests. In addition to support for ENS websites, Caney Fork would also champion values that DXdao espouses, like decentralization, transparency and on-chain sovereignty.

Next steps

Feedback from DXdao governance on what would be DXdao’s first foray into another governance system. If well received, a proposal from Caney Fork outlining its platform and intentions would be submitted (and hopefully passed).

If it passes, the tokens would need to be delegated to CaneyFork.eth. In discussing with a few more technical folks, it seems not easy to delegate from governance directly, but should be relatively easy to send the ENS tokens to a multi-sig, delegate to Caneyfork.eth and then send the tokens back to DXdao. This process would be further researched and explained should the proposal move forward.

As a delegate, Caney Fork would provide a monthly summary on ENS DAO on DAOTalk as well as a monthly check-in on a governance call, where votes can be discussed and additional feedback on ENS governance can be voiced. It also may be interesting to explore polling/signaling of REP holders on contentious votes.

13 Likes

I believe ENS is one of the core Ethereum protocols, particularly outside of DeFi.

I think Chris would make a great delegate on behalf of DXdao to further decentralization and represent DXdao at ENS.

12 Likes

@Powers if you were delegate at the time, how would you have voted on this?

In its short existence, ENS DAO is perhaps most well-known for a contentious failed vote to remove Brantly from the ENS Foundation.

3 Likes

Hi @Caden, impossible to say without having consulted DXdao on the vote. Contentious ENS votes should be discussed in the DXdao community and I’d also be interested in employing some signaling system from REP holders/DXdao governance themselves.

In this particular situation, as I hinted in the original post, it didn’t appear that proper due process was afforded. That’s because it wasn’t clear what role the DAO and the Company have.

ENS governance will likely have some controversial governance decisions, particularly as it comes to censorship-resistance, and if approved as an ENS Delegate, Caney Fork would rely on DXdao’s values and community for input on those votes.

6 Likes