ENS DAO overhauls governance with new foundation

ENS DAO formed the ENS Foundation, granting it $65M and legal authority, while the DAO keeps protocol governance. The move boosts ENS's institutional presence and transparency.

ENS DAO has approved a significant governance overhaul, creating the ENS Foundation as a fully operational legal entity. The Foundation, based in the Cayman Islands, will be led by a full-time executive director, supported by professional staff, and overseen by a five-member board. It now holds administrative control over a $65 million endowment funded by .eth registration fees, and is responsible for managing grants, intellectual property, policy engagement, and brand protection. ENS Labs will continue to focus on protocol development, while the DAO retains authority over protocol-level decisions and the majority of ENS tokens. The Foundation is committed to transparency, publishing annual audited financial statements and quarterly grant updates. Board members, including independent directors, serve two-year terms with annual compensation, and a nine-day timelock is imposed on endowment transactions for added security. This new structure aims to provide ENS with legal standing and an institutional presence, enabling engagement with organizations like ICANN and participation in regulatory discussions, while preserving decentralized governance over the core protocol.