ENS tokenholders approved and executed a proposal that turns the ENS Foundation into a staffed organization with a full-time executive director and a five-seat board, and hands it onchain control of the DAO's endowment.
The opposition centered on the keys. The executable swapped the sole owner of the Endowment Safe for a new timelock contract with a nine-day delay whose only proposer is the Foundation's 3-of-5 multisig, with the Security Council able to cancel queued transactions on five of eight signatures. Spending caps, budget bounds and conflict-of-interest recusals live in the proposal text and are not enforced by the code.
The endowment holds roughly $65 million in ETH and stablecoins. The nine-day delay covers the owner path only. Two pre-existing module paths survive the swap, according to a calldata review by governance security firm Blockful: karpatkey's Roles v2 module, which handles day-to-day investment management, and a Safe allowance module giving the meta-governance working group multisig 30 ETH every 25 days. The 1 million ENS transfer in the same proposal is also exempt.
The vote closed with 1,269,420 ENS for and 480,690 against, clearing a 1 million-token quorum, and executed early Tuesday. Votable ENS supply is 7.1 million tokens out of a 100 million total. Fire Eyes DAO cast the largest bloc against at 154,548 votes, followed by Van de Sande with 130,335 and brantly.eth, the ENS Foundation director the DAO voted to remove in 2022, with 93,835.
