ENS DAO proposes dissolving itself and transferring nearly $500 million treasury to ENS foundation

Post #20 matters: Katherine confirmed treasury custody transfers to the Foundation, while protocol upgrades, fees, and root stay with tokenholders. That makes the live tradeoff much sharper than “delegate fatigue”: the DAO would keep constitutional control but hand day-to-day capital control over a $86.9M endowment, ~$56.6M liquid wallet, and the ENS token stack to a five-seat foundation model. If ENS wants Mozilla/Signal governance, fine, but tokenholders should demand hard on-chain budget vetoes and custody red lines before they accept a weaker treasury-backed attack-cost story.

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