{"id":15957,"date":"2026-08-11T17:35:50","date_gmt":"2026-08-11T17:35:50","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=15957"},"modified":"2026-08-11T17:36:00","modified_gmt":"2026-08-11T17:36:00","slug":"ens-dao-approves-major-foundation-overhaul-with-five-member-board","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2026\/08\/11\/ens-dao-approves-major-foundation-overhaul-with-five-member-board\/","title":{"rendered":"ENS DAO approves major foundation overhaul with five-member board"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">ENS DAO has approved a major governance restructuring that will turn the ENS Foundation into a full-time operating organization with professional staff, a five-member board, and oversight of an endowment worth roughly $65 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The proposal, called the <strong>\u201cNext Era of ENS DAO,\u201d<\/strong> has now completed its on-chain execution after receiving approval from ENS tokenholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the new structure, the ENS Foundation will take responsibility for many of the protocol\u2019s day-to-day operational, legal, staffing, grants, and institutional activities. However, ENS tokenholders will continue to control the protocol itself, including upgrades, fees, treasury tokens, and board appointments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ENS DAO has completed the execution of its \u201cNext Era of ENS DAO\u201d governance proposal.<\/li>\n\n\n\n<li>The ENS Foundation will be governed by five voting directors, including three independent board members.<\/li>\n\n\n\n<li>Around $65 million in endowment assets will fall under the foundation board\u2019s administrative oversight.<\/li>\n\n\n\n<li>The DAO will transfer 1 million ENS tokens to support long-term employee compensation.<\/li>\n\n\n\n<li>ENS tokenholders will continue controlling protocol upgrades, fees, DAO treasury tokens, and board appointments.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">ENS Foundation becomes the protocol\u2019s operating body<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The restructuring is designed to solve one of the biggest practical challenges faced by decentralized autonomous organizations: conducting real-world business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS DAO can make decisions through tokenholder votes, but the DAO itself is not a traditional legal entity. That makes activities such as hiring employees, signing agreements, holding intellectual property, dealing with government institutions, and participating in formal policy discussions more complicated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The newly expanded ENS Foundation will handle many of those responsibilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS, or Ethereum Name Service, allows users to replace complex blockchain wallet addresses with easy-to-read names such as \u201calice.eth.\u201d ENS names can also be connected with websites, profiles, wallet addresses, and other digital identity information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over the years, ENS has grown into one of Ethereum&#8217;s most widely recognized naming systems, with integrations across wallets, decentralized applications, and Layer 2 networks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As ENS expands, the project believes a professional operating structure will make it easier to handle responsibilities that are difficult to coordinate entirely through DAO governance votes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A full-time executive director will now oversee the foundation\u2019s daily operations, employees, and grants program while working within budgets approved by the board.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alexander Urbelis has been appointed executive director and will also hold one voting board seat.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS founder Nick Johnson will hold another board position, while Kartik Talwar, Brett Sun, and Anthony Leutenegger will serve as independent directors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Independent directors are expected to receive <strong>40,000 USDC annually<\/strong> and serve two-year terms that may be renewed by the DAO.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If an independent director chooses not to accept compensation, the funds can instead be donated to a nonprofit or public-good initiative selected by that director.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Importantly, ENS tokenholders still retain the authority to appoint or remove directors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The removal process includes several steps, including a written petition, supporting evidence, an opportunity for the board to respond, and a 30-day period between the petition and the final governance vote.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">ENS tokenholders keep control of the protocol<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Although the foundation will take over more operational responsibilities, the proposal draws a clear line between managing the organization and controlling ENS itself.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS tokenholders will continue to have authority over major protocol-level decisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These include smart contract upgrades, registration pricing, fee structures, constitutional changes, registry controls, the root key, and other core governance decisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In other words, the foundation will manage operations, but it will not gain independent authority to modify the ENS protocol.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS Labs will also remain a separate Singapore-based organization with its own board and management team.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the restructuring, the ENS Foundation will own trademarks, branding assets, and other intellectual property connected with the project. It will then license the necessary rights to ENS Labs, which will continue receiving funding through its existing grant arrangement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The separation is intended to give the foundation greater legal capacity without transferring protocol ownership away from tokenholders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1 million ENS tokens reserved for employee compensation<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Treasury protections were another major part of the proposal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS DAO currently controls approximately <strong>54.6 million ENS tokens<\/strong>, and those assets will remain subject to the same on-chain governance controls.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The foundation does not receive general authority to use or manage the DAO&#8217;s ENS holdings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, there is one significant exception.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The DAO will make a one-time transfer of <strong>1 million ENS tokens<\/strong> to the Foundation Safe. Those tokens are intended to support future employee compensation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transferred tokens will come with strict restrictions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Employee grants must follow multiyear vesting schedules. Compensation involving a director or the executive director will require approval from independent board members.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Until the tokens are formally granted, the foundation cannot use them for governance voting, delegation, lending, or collateral.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The foundation is also prohibited from transferring the tokens to ENS Labs or using them to compensate ENS Labs employees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the foundation shuts down, or if tokenholders approve a recall, unused ENS tokens must be returned to the DAO.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS has previously relied on outside organizations to manage part of its treasury. In 2022, the DAO selected Karpatkey to manage an endowment that was initially worth about $52 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">$65 million endowment gets nine-day security timelock<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Another important part of the new structure concerns ENS&#8217;s endowment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Endowment Safe reportedly held approximately <strong>$65 million in ETH and stablecoins as of July<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Administrative control of the Safe will now sit with approved foundation board signers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the funds are not being moved to a new wallet, and the restructuring does not give directors, employees, or any other private party beneficial ownership of the assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To strengthen security, endowment transactions will normally be subject to a <strong>nine-day timelock<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During that period, the ENS Security Council can cancel transactions that are unauthorized, incorrect, malicious, or outside the foundation&#8217;s approved responsibilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The system uses an OpenZeppelin Timelock Controller alongside a Blockful Security Council contract.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Existing permissions provided to the investment manager will remain in place.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS DAO&#8217;s separate operational wallet will also continue operating under its existing structure. That wallet reportedly held around <strong>$16 million in ETH and stablecoins as of July<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Existing payment streams and financial commitments will continue under their current terms.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Foundation must publish its operating budget<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The proposal also introduces financial transparency requirements for the new operating structure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before receiving regular operational funding, the executive director must prepare a projected budget and submit it to the board.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A high-level version of that budget must also be published on the ENS governance forum.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before the disclosure takes place, transfers for initial setup costs cannot exceed <strong>$500,000<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The foundation&#8217;s first annual budget must be submitted within 60 days of the proposal&#8217;s adoption.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Existing grants, service-provider agreements, and active payment streams will remain in place until their scheduled completion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Future grants will gradually move under the ENS Foundation, including the Service Provider Program.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recipients will still be expected to meet existing reporting requirements.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">ENS Foundation to represent .ens in global standards discussions<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The restructuring also gives ENS a clearer legal entity that can represent the ecosystem before regulators, standards organizations, and other institutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The foundation&#8217;s mandate includes engagement with organizations such as the <strong>Internet Corporation for Assigned Names and Numbers (ICANN)<\/strong>, the <strong>Internet Engineering Task Force (IETF)<\/strong>, and the <strong>World Wide Web Consortium (W3C)<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One of its most important long-term goals will be seeking formal recognition and stewardship of <strong>\u201c.ens\u201d<\/strong> as a top-level domain through ICANN.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Achieving that status could help bridge the gap between blockchain-based naming systems and the traditional Domain Name System used by browsers, websites, and email services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The effort is part of a wider trend among Web3 naming providers seeking deeper integration with conventional internet infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS has already taken steps in that direction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The protocol previously integrated \u201c.box,\u201d an ICANN-recognized domain designed to work with both blockchain services and traditional internet applications.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS has also partnered with domain registrar GoDaddy, allowing users to connect conventional internet domains with ENS-compatible cryptocurrency wallet addresses without paying an additional ENS fee.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Legal structure could strengthen ENS in disputes and policy discussions<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Giving the foundation stronger legal standing could also help ENS deal with trademark disputes, impersonation cases, and regulatory matters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is particularly important in jurisdictions such as the United States, where legal disputes involving domains, intellectual property, or brand misuse may need to be handled through traditional courts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ENS has faced such situations before.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2022, an Arizona federal court granted ENS an injunction in a dispute involving the eth.link gateway domain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The broader challenge is that DAOs still have limited legal recognition in many countries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some U.S. states, including Wyoming, have introduced legal frameworks for decentralized organizations. However, an on-chain governance vote alone generally does not provide a DAO with all of the legal powers available to a traditional company or foundation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A legal entity can more easily hire employees, own trademarks, enter contracts, communicate with regulators, and participate in court proceedings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The new ENS Foundation structure is designed to provide those capabilities while preserving decentralized governance over the protocol.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conflict-of-interest rules added for ENS leadership<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The foundation will also introduce an interim conflict-of-interest policy covering directors and the executive director.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Potential conflicts will need to be publicly disclosed, while affected individuals may be required to recuse themselves from certain decisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Funding involving ENS Labs will require approval from a majority of eligible independent directors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A more detailed conflict-of-interest framework must then be presented to the board for approval within 90 days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall, the restructuring represents a significant shift in how ENS handles its operations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The DAO will continue controlling the protocol and its most important governance decisions, while the foundation takes responsibility for the legal, administrative, staffing, grants, and institutional work needed to support the ecosystem&#8217;s expansion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The model could give ENS a more professional operational structure without removing ultimate governance authority from ENS tokenholders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ENS DAO has approved a major governance restructuring that will turn the ENS Foundation into a full-time operating organization with professional staff, a five-member board, and oversight of an endowment worth roughly $65 million. The proposal, called the \u201cNext Era of ENS DAO,\u201d has now completed its on-chain execution after receiving approval from ENS tokenholders&#8230;.<\/p>\n","protected":false},"author":3,"featured_media":15958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[1798,1904],"class_list":["post-15957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-dao","tag-governance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ENS DAO approves major foundation overhaul with five-member board - Crypto News<\/title>\n<meta name=\"description\" content=\"ENS DAO approves a major foundation overhaul with a five-member board, $65M endowment oversight, professional staff, and new treasury safeguards.\" \/>\n<meta name=\"robots\" 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