Ethereum Name Service Considers Starting Endowment Fund With $17 Million
Key Points:
- DeFi Treasury Manager Karpatkey has requested that the Ethereum Name Service (ENS) DAO take into account activating the DAO’s endowment fund with 10,766 ether ($17 million).
- Karpatkey’s $17 million capital request would serve as the fund’s initial seeding. There will be two more monthly payments until the $51 million financing target is reached for the fund.
According to a recent governance proposal, DeFi Treasury Manager Karpatkey has requested that the Ethereum Name Service (ENS) DAO take into account activating the DAO’s endowment fund with 10,766 ether ($17 million).
The ENS DAO established the endowment fund as a treasury management measure to maximize its reserves. Karpatkey was chosen by the DAO to oversee the fund in a governance vote that was completed last year. For the DAO, Karpatkey is tasked with overseeing $51 million in assets. The DAO’s treasury, which has assets totaling $1 billion, will provide these funds.
If accepted, Karpatkey’s $17 million capital request would serve as the fund’s initial seeding. There will be two more monthly payments until the $51 million financing target is reached for the fund.
40,959 ether ($64 million) are now held in the ENS DAO’s $1 billion treasury. All of the DAO’s ETH funds, less $16 million, will be in the endowment when it is completely seeded. The DAO’s expenses will have a two-year runway thanks to the leftover $16 million.
According to Karpatkey’s suggested strategy, the fund will retain 59% of its ether holdings. The proposal specifies that the remaining amount will be converted to USDC. Karpatkey will invest the money in a couple DeFi investment methods that are ether- and dollar-neutral. The stated objective is to generate annualized returns of up to 5.43%.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
Author
Ethereum
Ethereum Name Service Considers Starting Endowment Fund With $17 Million
Key Points:
- DeFi Treasury Manager Karpatkey has requested that the Ethereum Name Service (ENS) DAO take into account activating the DAO’s endowment fund with 10,766 ether ($17 million).
- Karpatkey’s $17 million capital request would serve as the fund’s initial seeding. There will be two more monthly payments until the $51 million financing target is reached for the fund.
According to a recent governance proposal, DeFi Treasury Manager Karpatkey has requested that the Ethereum Name Service (ENS) DAO take into account activating the DAO’s endowment fund with 10,766 ether ($17 million).
The ENS DAO established the endowment fund as a treasury management measure to maximize its reserves. Karpatkey was chosen by the DAO to oversee the fund in a governance vote that was completed last year. For the DAO, Karpatkey is tasked with overseeing $51 million in assets. The DAO’s treasury, which has assets totaling $1 billion, will provide these funds.
If accepted, Karpatkey’s $17 million capital request would serve as the fund’s initial seeding. There will be two more monthly payments until the $51 million financing target is reached for the fund.
40,959 ether ($64 million) are now held in the ENS DAO’s $1 billion treasury. All of the DAO’s ETH funds, less $16 million, will be in the endowment when it is completely seeded. The DAO’s expenses will have a two-year runway thanks to the leftover $16 million.
According to Karpatkey’s suggested strategy, the fund will retain 59% of its ether holdings. The proposal specifies that the remaining amount will be converted to USDC. Karpatkey will invest the money in a couple DeFi investment methods that are ether- and dollar-neutral. The stated objective is to generate annualized returns of up to 5.43%.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
Coincu News
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