Karpatkey DAO Has Been Appointed As The New Fund Manager By ENS DAO
Karpatkey DAO, the new fund manager, will administer ENS’s treasury and provide a sustainable fund to fuel development independent of overall economic conditions.
In the aftermath of crypto winter, the Ethereum Name Service (ENS) DAO has appointed a new fund manager to administer its money. In a vote that began last Wednesday, November 17, and ended Tuesday evening, November 22. Karpatkey DAO, a DeFi fund management organization founded by Gnosis Ltd, was chosen by the community.
Karpatkey was elected with 1.76 million votes. Notable addresses include ENS co-founder Alex Van de Sande (avsa.eth), Rotkiapp founder Lefteris Karapetsas (lefteris.eth), and ENS Steward Griff Green (griff.eth), who collectively had 468 thousand ENS voting power. With 1.3 million votes, “none of the above” came in second place.
Now that the community has chosen Karpatkey, the treasury management firm will manage the majority of ENS’s treasury, which is mostly made up of USDC and ETH. Karpatkey has more than two years of experience and currently manages over $397 million in non-custodial assets, excluding ENS.
The endowment’s goal is to create a long-term fund that can fuel continuous development regardless of macroeconomic conditions that may negatively impact revenue from ENS registrations and renewals.
According to Karpatkey’s proposal, “the funds would be managed transparently and completely on-chain via a non-custodial solution… Karpatkey’s non-custodial solution is built around the most battle-tested tooling for managing DAO treasuries: a stand-in The Zodiac Roles Modifier and the Management Safe.”
Gnosis Guild’s Zodiac is “a collection of tools built according to an open standard,” according to its Github page, while Safe, which secures nearly $40 billion in all of its Ethereum contracts, is one of the most popular ways to custody digital assets in a decentralized manner.
The initial size of Karpatkey’s proposal for the ENS Endaoment is $52 million, and the final stage of Karpatkey’s proposal is $69 million with a projected return of 5.83%. “The plan would employ low-risk, medium-complexity DeFi solutions such as liquidity provision to automated market makers.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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Karpatkey DAO Has Been Appointed As The New Fund Manager By ENS DAO
Karpatkey DAO, the new fund manager, will administer ENS’s treasury and provide a sustainable fund to fuel development independent of overall economic conditions.
In the aftermath of crypto winter, the Ethereum Name Service (ENS) DAO has appointed a new fund manager to administer its money. In a vote that began last Wednesday, November 17, and ended Tuesday evening, November 22. Karpatkey DAO, a DeFi fund management organization founded by Gnosis Ltd, was chosen by the community.
Karpatkey was elected with 1.76 million votes. Notable addresses include ENS co-founder Alex Van de Sande (avsa.eth), Rotkiapp founder Lefteris Karapetsas (lefteris.eth), and ENS Steward Griff Green (griff.eth), who collectively had 468 thousand ENS voting power. With 1.3 million votes, “none of the above” came in second place.
Now that the community has chosen Karpatkey, the treasury management firm will manage the majority of ENS’s treasury, which is mostly made up of USDC and ETH. Karpatkey has more than two years of experience and currently manages over $397 million in non-custodial assets, excluding ENS.
The endowment’s goal is to create a long-term fund that can fuel continuous development regardless of macroeconomic conditions that may negatively impact revenue from ENS registrations and renewals.
According to Karpatkey’s proposal, “the funds would be managed transparently and completely on-chain via a non-custodial solution… Karpatkey’s non-custodial solution is built around the most battle-tested tooling for managing DAO treasuries: a stand-in The Zodiac Roles Modifier and the Management Safe.”
Gnosis Guild’s Zodiac is “a collection of tools built according to an open standard,” according to its Github page, while Safe, which secures nearly $40 billion in all of its Ethereum contracts, is one of the most popular ways to custody digital assets in a decentralized manner.
The initial size of Karpatkey’s proposal for the ENS Endaoment is $52 million, and the final stage of Karpatkey’s proposal is $69 million with a projected return of 5.83%. “The plan would employ low-risk, medium-complexity DeFi solutions such as liquidity provision to automated market makers.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
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