ENS DAO Approves Transfer of $65 Million Control to New Foundation

The ENS decentralized autonomous organization (DAO) has passed a vote to transfer control of roughly $65 million in assets to the ENS Foundation. The foundation, which will have a director and a board, will be responsible for managing the protocol’s endowment and revenue streams.

As part of the restructuring, ENS Labs—the entity previously overseeing both development and treasury—will now concentrate solely on protocol development. This separation is intended to streamline operations and enhance governance.

Token holders will retain the authority to appoint and remove foundation directors, preserving community oversight. The change does not affect the core functionality of the Ethereum Name Service but marks a shift in how its financial resources are governed.