ENS Labs Abandons DAO Wallet Transfer in Revised Foundation Proposal

Revised ENS proposal retains 54.6M tokens and $16M operational wallet under DAO control, granting foundation only limited donation fund access with strict security locks.

Woofun AI reports that ENS Labs COO Katherine Wu published an updated draft for the ENS Foundation, removing the clause to transfer the DAO operational wallet to the new entity. The revision preserves control of approximately 54.6 million ENS tokens and an operational wallet containing roughly $16 million in ETH and stablecoins for token holders.

The proposal allows a one-time transfer of 1 million tokens for staff compensation with multi-year vesting. While the foundation board gains management rights over a $65 million donation treasury, all transactions require time locks, and the security committee has the right to cancel, ensuring token holders retain protocol control and director appointment powers.