A revised draft for the ENS Foundation proposal is up on the forum. Thank you to everyone who took the time to read the temp check, ask difficult questions, and share thoughtful feedback. ENS has always benefited from a community that cares deeply about its future, and the discussion over the past few weeks has helped make this proposal better. Several changes have been made in response. The DAO’s ENS operational wallet will remain under tokenholder control. DAO-held ENS will also continue to remain under tokenholder control, apart from a one-time transfer of 1M ENS restricted to Foundation employee compensation and administered under a published framework with multi-year vesting. Any further allocation would require a separate proposal. The Endowment will remain in its existing onchain safe. Transactions administered by the Foundation will be additionally subject to a timelock by default, and will give the Security Council the ability to cancel them before execution. This adds a new protection the current structure doesn't have: Endowment transactions pass through a timelock, and the Security Council can cancel any timelocked transaction before it executes. This is a safeguard conferred by the proposal itself; the Council's charter mandate is unchanged. Tokenholders will retain authority over protocol upgrades, pricing and fees, the root and registry, constitutional amendments, and the appointment and removal of Foundation directors. I continue to believe tokenholder governance is best suited to major protocol-level decisions, while day-to-day operations need a structure capable of making and executing decisions effectively. The revised proposal draws that line more clearly while keeping the Foundation accountable to the DAO. My hope is that the changes show that the concerns raised were heard and taken seriously. Please read the revised proposal here:(nick.eth)