ENS Labs has pulled back from a proposal to shift the DAO's treasury into a new foundation, following resistance from delegates. The revised plan, posted Thursday by ENS Labs COO Katherine Wu, removes the transfer of the DAO's operational wallet to the new entity.
Why the plan was scaled back
The original proposal aimed to create a separate foundation to manage the treasury, but delegates raised concerns about governance and control. The opposition was strong enough that ENS Labs decided to revise the plan rather than push it through. The new draft keeps the operational wallet under the DAO's direct control, addressing a key point of contention.
What the draft proposal says
Katherine Wu posted an executable draft of the proposal on Thursday. The document drops the section that would have moved the DAO's operational wallet to the new foundation. Instead, the foundation would still be created but with a narrower scope — likely focused on non-treasury functions like legal support or brand management. The exact details of the foundation's new role are not specified in the facts, but the core change is clear: the treasury stays with the DAO.
What happens next
The draft is now available for review by ENS delegates. They will decide whether to approve the scaled-back version or push for further changes. The timeline for a vote has not been announced, but the move signals that ENS Labs is listening to its community. The question now is whether the revised proposal will satisfy the delegates who opposed the original plan.
