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Introducing EP 5.18-21 into governance docs (#341)
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Co-authored-by: Greg Skriloff <[email protected]>
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estmcmxci and gskril authored Oct 30, 2024
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17 changes: 17 additions & 0 deletions app/local/config/navigation/protocol.ts
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Expand Up @@ -405,6 +405,22 @@ export const navigation: SectionData[] = [
{
title: 'Proposals Term 5',
links: [
{
title: '5.21 - [Social] Governance Security Bounty',
href: '/dao/proposals/5.21',
},
{
title: '5.20 - [Social] ENS Endowment Investment Policy Statement ',
href: '/dao/proposals/5.20',
},
{
title: '5.19 - [Social] Governance Distribution Pilot Program',
href: '/dao/proposals/5.19',
},
{
title: '5.18 - [Social] ENS DAO Steward Compensation Structure - Term 6',
href: '/dao/proposals/5.18',
},
{
// eslint-disable-next-line prettier/prettier
title: '5.17.3 - [Social] Funding Request: ENS Public Goods Working Group',
Expand Down Expand Up @@ -689,6 +705,7 @@ export const navigation: SectionData[] = [
href: '/dao/proposals/0.3',
},
{
// eslint-disable-next-line prettier/prettier
title: '0.2 - [Executable] Retrospective airdrop for accounts that owned another account\'s primary ENS 1',
href: '/dao/proposals/0.2',
},
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86 changes: 86 additions & 0 deletions docs/dao/proposals/5.18.mdx
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{/** @type {import('@/lib/mdxPageProps').MdxMetaProps} */}
export const meta = {
description: 'This proposal outlines the ENS DAO\'s steward compensation structure for Term 6, detailing monthly USDC payments for various roles, a new $ENS token distribution tied to annual USDC compensation, and terms for DAO approval.',
emoji: '📖',
contributors: [
'5pence.eth'
],
proposal: {
snapshot: '0x88de13f2f088390262d1d5e7db9ddff5a74d0b878fedf590a0448c32692078ba',
discourse: 'https://discuss.ens.domains/t/ens-dao-steward-compensation-structure-term-6/19739',
type: 'social'
}
};

| Status | Posted on Snapshot |
| ---------- | -------------------------------------------- |
| **Author** | [5pence.eth](https://twitter.com/5pence_eth) |

# [EP 5.18] [Social] ENS DAO Steward Compensation Structure - Term 6

## Background

The ENS DAO Working Group Rules place the responsibility for steward compensation on the Metagov working group.

**Working Group Rules:**
[[EP0.4] [Social] Proposal: Creation of Foundational Working Groups and Working Group Rules](https://docs.ens.domains/v/governance/governance-proposals/term-0/ep4-social-proposal-creation-of-foundational-working-groups-and-working-group-rules)
[[EP12][Social] Working Group Rules ](https://discuss.ens.domains/t/ep12-social-working-group-rules/12953)

With the passing of [this social proposal](https://snapshot.org/#/ens.eth/proposal/0x26a5c8dec547837495707e70446d1e7cd874a91f75753c602998f6e70083a266) in Term 4, these two rules were added:

> **10.4.** The Meta-Governance working group are responsible for defining standards for fair compensation ('Compensation Guidelines').
> **10.5.** The Compensation Guidelines shall be defined prior to the Nomination Window for each term and can only take effect for the following term.
## Summary

In accordance with rule 10.5, This post outlines the proposed compensation structure for ENS DAO stewards during Term 6. The structure builds upon previous compensation models but includes several important changes. Notably, this compensation proposal will be put to a DAO vote for approval.

## Proposed Compensation Structure

### USDC Compensation

The total USDC compensation is the same as Term 5. The base compensation structure remains similar to previous terms, with some adjustments:

| Role | Quantity | Per Steward Per Month | Per Steward Per Term | Total per Term |
| ------------ | -------- | --------------------- | -------------------- | -------------- |
| Steward | 6 | $4,000 | $24,000 | $288,000 |
| Lead Steward | 3 | $5,500 | $33,000 | $198,000 |
| Secretary | 1 | $5,500 | $33,000 | $66,000 |
| Scribe | 1 | $3,000 | $18,000 | $36,000 |
| **Total** | | | | **$588,000** |

([previous structure linked here for reference](https://discuss.ens.domains/t/ens-dao-steward-compensation/18063))

Key changes:

- The discretionary amount has been removed.
- The $3,000 previously allocated to each WG for discretionary compensation has been split evenly among the stewards of that working group.
- Regular stewards will now receive $4,000 USDC per month (up from $3,000).
- Lead stewards will now receive $5,500 USDC per month (up from $4,500).

### $ENS Token Distribution

We are introducing a new structure for $ENS governance distribution to stewards:

1. Each steward will receive $ENS tokens equal in value to their total USDC compensation for the year.
2. The $ENS tokens will be distributed on July 1st, via 2-year linear vesting contracts.
3. The $ENS token price used to calculate the number of tokens each steward receives will be derived from the average daily price of the token between January 1st and July 1st of the term.
4. The vesting period will start from the beginning of the term (January 1st), meaning 6 months of vesting will have already occurred at the time of distribution.

Example calculation:

- A regular steward receiving $48,000 USDC for the year would also receive $48,000 worth of $ENS tokens.
- If the average $ENS price is $12 when calculated on July 1st, the steward would receive 4,000 $ENS tokens in a 2-year linear vesting contract.
- At the time of distribution (July 1st), 25% of the tokens (1,000 $ENS) would have already vested.

This structure ensures that stewards' token compensation aligns with their USDC compensation and incentivizes long-term commitment to the DAO.

### Success Criteria

For this social proposal to pass, the following quorum and voting requirements must be met:

1. **Quorum**: The proposal must receive a minimum of 1% of the total supply of $ENS (1 million votes) in the form of "Yes" and "Abstain" votes combined. "No" votes do not count towards quorum.

2. **Approval**: Once the quorum is reached, the proposal requires a simple majority (>50%) of "Yes" votes among the "Yes" and "No" votes to pass. "Abstain" votes do not count towards the approval calculation.

If approved, this structure will be implemented for Term 6. If not approved, the Metagovernance Working Group will reassess and propose an alternative structure based on feedback received.
117 changes: 117 additions & 0 deletions docs/dao/proposals/5.19.mdx
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{/** @type {import('@/lib/mdxPageProps').MdxMetaProps} */}
export const meta = {
description: 'This proposal outlines a pilot program to distribute ENS governance tokens to eligible contributors receiving grants, bounties, or payments from the DAO, aiming to engage them in governance by issuing tokens according to a quadratic distribution model, with the program’s budget to be determined by a ranked choice vote.',
emoji: '📖',
contributors: [
'avsa.eth'
],
proposal: {
snapshot: '0xfa54ff2b55f0495c96ec2d8645241bcff48ca6afe1f4925fb51f29c4667252df',
discourse: 'https://discuss.ens.domains/t/ep-5-19-social-governance-distribution-pilot-program/19759',
type: 'social'
}
};

# [EP 5.19] [Social] Governance Distribution Pilot Program

## Objective:

This proposal establishes a pilot program to distribute ENS governance to eligible DAO contributors who have been selected by the DAO to receive a grant, bounty, or other payment for services. The program would also serve as a pilot, and if successful, could become a long-term initiative, aiming to cover all DAO USDC and ETH recipients, while setting a policy for future governance distribution.

The intent is to engage contributors in governance. We believe governance distribution increases access to DAO governance, enhances the utility of the token, decreases the amount of tokens purely used in markets, increases delegation and the safety of the DAO, and helps align developers and other contributors who bring value to the DAO.

## Context:

- **Previous Distributions**:

- [90k ENS tokens to stewards](https://discuss.ens.domains/t/5-8-social-ens-steward-vesting-proposal/19059)
- [80k ENS tokens to service providers and security council members](https://discuss.ens.domains/t/distribution-of-80k-ens-tokens-to-service-providers-and-security-council-members/19541)

- **Proposed Distribution**:
- This vote is to determine if the program is approved and to select its budget within a range between 0 and 90k ENS.

## Matching Program:

The distributions are calculated using a progressive ratio, meaning that the more you receive in dollar value from the DAO, the more you will receive in absolute values in ENS, but less relatively to the amount, following a quadratic formula. The process is as follows:

1. **Calculate all eligible transfers**: First, we list all transfers from the various DAO wallets into external wallets from January to September 2024. Data is collected from the [ENS Ledger app](https://ens-ledger.app).
2. **Exclude ineligible transactions**: Transactions to Stewards, ENS Labs, Service Providers, and other transactions that are considered refunds or payments for goods are not counted.
3. **Calculate the square root of the total value received**: The total weights are calculated to determine the percentage of the budget each recipient will receive. That calculation and further details can be seen in [this spreadsheet](https://docs.google.com/spreadsheets/d/1hnrBSPy5efi2W0b4hd4y2BnAmRIfI0M5y4NgYGjEPms/edit?usp=sharing).
4. **Decide the program's total budget**: The total budget will be determined by this vote.

## Voting Method:

The vote will use a ranked choice voting system with options of 0, 30k, 60k, and 90k ENS.

An Instant Run-Off will be calculated, and if the budget option of 0 wins, or if the total votes are less than 1 million, then the proposal will be considered rejected.

## Distribution Table:

The table below is from the [ENS ledger](https://ens-ledger.app), excluding Stewards, Service Providers, ENS Labs, refunds, and internal wallets. ETHGlobal Hackers are bounties given by ETHGlobal to hackathon winners. The final number of hackers is still being calculated, but here it is presented as a maximum of 100. If the final number is less than this, then more ENS will be distributed to other recipients, and if it is greater, it will be capped at 100. This proposal covers transactions from January 2024 to September 2024, and the final table may be subject to change upon legal or technical review.

| | $ Received jan-sep 2024 | 30k ENS | % | 60k ENS | % | 90k ENS | % |
| ---------------------------------------- | ----------------------- | ------- | ---- | ------- | ---- | ------- | ---- |
| ETHGlobal | $ 190,000.00 | 1,441 | 13% | 2,883 | 26% | 4,324 | 39% |
| Karpatkey | $ 187,149.13 | 1,430 | 13% | 2,861 | 26% | 4,291 | 39% |
| @UGWST_COM | $ 75,000.00 | 906 | 21% | 1,811 | 41% | 2,717 | 62% |
| Rotki | $ 53,973.38 | 768 | 24% | 1,536 | 48% | 2,305 | 73% |
| wslyvh.eth | $ 50,004.00 | 739 | 25% | 1,479 | 50% | 2,218 | 75% |
| gashawk.eth | $ 40,000.00 | 661 | 28% | 1,323 | 56% | 1,984 | 84% |
| buidlguidl.eth | $ 35,000.00 | 619 | 30% | 1,237 | 60% | 1,856 | 90% |
| borderlessafrica.eth | $ 30,000.00 | 573 | 32% | 1,145 | 65% | 1,718 | 97% |
| daemon.eth | $ 27,000.00 | 543 | 34% | 1,087 | 68% | 1,630 | 103% |
| Revoke.Cash | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| Onthis | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| ipns.eth | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| Fluidkey | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| Blockscout | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| beaconchain.eth | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| 1w3.eth | $ 25,000.00 | 523 | 36% | 1,046 | 71% | 1,568 | 107% |
| Firefly | $ 20,000.00 | 468 | 40% | 935 | 79% | 1,403 | 119% |
| EIP-7212 | $ 20,000.00 | 468 | 40% | 935 | 79% | 1,403 | 119% |
| Urbe Campus | $ 19,680.00 | 464 | 40% | 928 | 80% | 1,392 | 120% |
| ethdaily.eth | $ 14,797.60 | 402 | 46% | 804 | 92% | 1,207 | 139% |
| Discord Support | $ 13,000.00 | 377 | 49% | 754 | 99% | 1,131 | 148% |
| Dappnode | $ 12,500.00 | 370 | 50% | 739 | 101% | 1,109 | 151% |
| generalmagic.eth | $ 11,563.43 | 356 | 52% | 711 | 105% | 1,067 | 157% |
| Immunefi | $ 10,200.00 | 334 | 56% | 668 | 111% | 1,002 | 167% |
| Pugson | $ 10,000.00 | 331 | 56% | 661 | 112% | 992 | 169% |
| Juicebox | $ 10,000.00 | 331 | 56% | 661 | 112% | 992 | 169% |
| frolic.eth | $ 10,000.00 | 331 | 56% | 661 | 112% | 992 | 169% |
| ETHDenver | $ 10,000.00 | 331 | 56% | 661 | 112% | 992 | 169% |
| Drips | $ 10,000.00 | 331 | 56% | 661 | 112% | 992 | 169% |
| Lemma | $ 9,998.67 | 331 | 56% | 661 | 112% | 992 | 169% |
| Tally | $ 8,999.54 | 314 | 59% | 627 | 119% | 941 | 178% |
| pairwise.eth | $ 8,402.18 | 303 | 61% | 606 | 123% | 909 | 184% |
| @navad | $ 7,500.00 | 286 | 65% | 573 | 130% | 859 | 195% |
| apoorv.eth | $ 7,021.88 | 277 | 67% | 554 | 134% | 831 | 201% |
| leticiaferraz.eth | $ 6,949.32 | 276 | 67% | 551 | 135% | 827 | 202% |
| @Sagamore | $ 6,000.00 | 256 | 73% | 512 | 145% | 768 | 218% |
| Socket | $ 5,000.00 | 234 | 79% | 468 | 159% | 701 | 238% |
| Latin Hackathon | $ 5,000.00 | 234 | 79% | 468 | 159% | 701 | 238% |
| eth-mexico.eth | $ 5,000.00 | 234 | 79% | 468 | 159% | 701 | 238% |
| aynieducativo.eth | $ 5,000.00 | 234 | 79% | 468 | 159% | 701 | 238% |
| @adhd | $ 5,000.00 | 234 | 79% | 468 | 159% | 701 | 238% |
| ENS Fairy | $ 4,781.34 | 229 | 81% | 457 | 163% | 686 | 244% |
| glodollar.eth | $ 3,762.22 | 203 | 92% | 406 | 183% | 608 | 275% |
| weird3.eth | $ 3,000.00 | 181 | 103% | 362 | 205% | 543 | 308% |
| Event Support | $ 3,000.00 | 181 | 103% | 362 | 205% | 543 | 308% |
| daveytea.eth | $ 2,818.29 | 176 | 106% | 351 | 212% | 527 | 318% |
| @solidityhaxor | $ 2,500.00 | 165 | 112% | 331 | 225% | 496 | 337% |
| @haoce505 | $ 2,500.00 | 165 | 112% | 331 | 225% | 496 | 337% |
| @h4nt3rx | $ 2,500.00 | 165 | 112% | 331 | 225% | 496 | 337% |
| stephancill.eth | $ 2,367.89 | 161 | 116% | 322 | 231% | 483 | 347% |
| Scope.sh | $ 2,367.89 | 161 | 116% | 322 | 231% | 483 | 347% |
| Kiwi News | $ 2,367.89 | 161 | 116% | 322 | 231% | 483 | 347% |
| bloomnetwork.eth | $ 1,881.11 | 143 | 130% | 287 | 259% | 430 | 389% |
| modularcrypto.eth | $ 1,818.29 | 141 | 132% | 282 | 264% | 423 | 395% |
| aexek.eth | $ 1,750.00 | 138 | 134% | 277 | 269% | 415 | 403% |
| @austinoa012 | $ 1,000.00 | 105 | 178% | 209 | 356% | 314 | 533% |
| illuminated.eth | $ 940.56 | 101 | 183% | 203 | 367% | 304 | 550% |
| dhive.eth | $ 940.56 | 101 | 183% | 203 | 367% | 304 | 550% |
| pabl0cks.eth | $ 877.74 | 98 | 190% | 196 | 379% | 294 | 569% |
| iviangita.eth | $ 877.74 | 98 | 190% | 196 | 379% | 294 | 569% |
| easlabs.eth | $ 877.74 | 98 | 190% | 196 | 379% | 294 | 569% |
| 2118.eth | $ 877.74 | 98 | 190% | 196 | 379% | 294 | 569% |
| andrewpage.eth | $ 780.00 | 92 | 201% | 185 | 403% | 277 | 604% |
| ETHGlobal Hackers (max 100 participants) | $ 500.00 | 72 | 245% | 144 | 491% | 216 | 736% |
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